Thursday 19 May 2016

Does it worth to buy euros?

Once we have lived through FOMC minutes, it's time to pay attention to Europe. The fact that the whole market strongly believed in the UK and started buying pounds, is good for the euro in log term, but at the current time the dynamics of euro/pound can also put pressure on the EUR/USD. Thus, for short-term traders it makes sense to use every correction to enter the market with short EUR/GBP. But for those who are willing to wait, it makes sense to choose long EUR/USD at current levels. The protocol of the last ECB meeting, which will be released today can support the demand of the euro, if the market will find a confirmation for a longer period of inactivity from the regulator. As it appears, the ECB has made the maximum that could, and now it is waiting for the results. This position will be the main factor supporting the euro over the next few months.


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