After the ECB expanded its emergency bond buying program on Thursday, the European single currency continued its nine-day growth (this is the longest series of positive sessions since 2011). EUR/USD reached a three-month high of $1.1362. Thus, from May 25, EUR strengthened against USD by 4.5%.
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Currently, the Euro rally, caused by the ECB, is running out and looks overbought against the US dollar. The upward momentum may decline in the next sessions, when the pair approaches its maximum level for the year, which is $1.1495.
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Trade with the Fibo Group!
#fibogroup #forex #forexnews #economy #finance #trader #EURUSD #euro #rally #ECB
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Currently, the Euro rally, caused by the ECB, is running out and looks overbought against the US dollar. The upward momentum may decline in the next sessions, when the pair approaches its maximum level for the year, which is $1.1495.
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Trade with the Fibo Group!
#fibogroup #forex #forexnews #economy #finance #trader #EURUSD #euro #rally #ECB
