With improvement in risk condition there is a huge likelihood for the pair to be heading back to the pre-crisis levels.
With increase in risk environment we are likely experience build up of risk-on sentiment which will surely benefit the strength of EUR against USD
With improvement in risk environment, we expect the DXY to weaken which will imply the Dollar might experience a sell-off against majors (EUR, GBP, AUD, NZD and emerging markets (MXN and ZAR)
There is an increasingly Risk-on sentiment that is gradually building up which is likely result to strength of NZD, AUD against USD.
In line with promising PMI numbers, vaccine hopes, reconstruction plans might start to put hopes to Germany and Euro economy and ultimately lead to good performance of the stock markets across Euro zone. However, there has been number of mixed signals which might pull the index to the region around 10,700. But, i am still optimistic that the index is potentially...
The Bitcoin price is currently on a very important technical level which position it for a rapid price change in the near future. If the price manages to break the current level, there is a possibility for it to retest $13,000 level. But the chart patterns identified, suggested a more bearish move is much expected within the short horizon to the level around $ 6,500
The pair has found a very strong support which will likely hold back the bearish trend that started to build up early.
NZDUSD technical suggests the pair might be positioning for a medium term bullish rally.
A break of 23.45 could see the pair going to the level around 23.00
Gold's rally to multi-year highs is likely weighing over the US dollar and can push the EUR/USD higher to levels.
With a potential Risk On condition owing to improving containment of Covid-19, Aussie is expected to improve against USD for the coming week.