Yesterday, manufacturing PMI and inflation (HICP) data from Germany, France, and the EU were mostly in line with expectations, so the market showed little reaction.
At the EU Forum, ECB Vice President De Guindos said that the euro’s current level is not a concern but warned that if it rises above $1.20, it may become harder to manage policy. ECB President Lagarde also said the euro’s strength reflects the strength of the eurozone economy, showing acceptance of the stronger euro.
However, because $1.20 is seen as an important level, it is likely that many people will start selling euros before it reaches that point.
Ahead of the U.S. jobs report at the end of the week, the recent dollar selling may take a break. So in the short term, it may be better to sell euros when the price goes up.
EUR/USD Expected Price Range: 1.1740 – 1.1830
Note: The information above does not guarantee any profit. Please make your own decisions when trading.