The EURUSD provided bullish speculators of the currency pair plenty of opportunities to feel optimistic last week- Trading Forex
went into the weekend near the 1.09410 level after producing a high on Friday near the 1.09725 ratio, before a slight reversal lower.of May. However, this time the rather strong value was produced after a week of solid gains and central bank confirmations from the ECB and Federal Reserve which seemingly have made financial institutions more confident about anticipated outlooks. The value near 1.09725 seen in the second week of May occurred as the EUR/USD was starting to ebb lower.
The EUR/USD was able to trade near a high of around 1.10920 in late April and early May, and there is no doubt some traders are eyeing these values as targets. However, day traders without deep pockets should remain realistic in their pursuit of higher prices, and be willing to cash out bets when profits have been registered. There still are questions ahead regarding U.S Federal Reserve policy which could cause some volatility for the USD in the days and weeks ahead.
However, the trend upwards is attractive for speculators who continue to perceive that there is additional upside momentum to be found. Yet, shadows do lurk regarding the potential of the U.S. Fed to raise rates in July.
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