Euro Is on the Crossroads
I believe the banking instability has raised fears about a broader financial crisis and this has resulted in a significant shift in the Federal Reserve’s (Fed) monetary policy expectations. This factor is the most powerful driver for the EURUSD. We can’t be positive about forecasts predicting that the Dollar will go down or up because of this. That’s why it’s important to pay attention when the Euro will approaches the 1.09-1.10 area for the second time this year. There are no short signals so far, but technical resistance and volatility may send the pair down to 1.06. If the pair jumps above 1.10, it may continue to surge up to 1.15 over the coming weeks.
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