Euro May Pave the Way to Parity
Brutal August and September for the EUR/USD already sent the major currency pair from its previously comfortable nest at 1.10 to the levels below 1.05. Further suffering of the single currency looks highly likely, so that it may even hit parity with the Greenback in the months ahead. Further Dollar strength could be based on the U.S. Federal Reserve's (Fed) course for its interest rates to be held higher and for longer. The USD index wrapped up its 11th straight weekly win. U.S. Treasury yields are near their highs in the 21st century. The Aussie slid to its lows since October 2022 due to another halt in interest rates by the Australian central bank. ECB’s chairlady Christine Lagarde might be dovish as well this Wednesday (when her pre-recorded welcome address at "2023 ECB Conference on Monetary Policy: bridging science and practice" in Frankfurt, Germany is expected), this may contribute to the interest rate differential hopes of the Euro bears.
I would increase my personal stakes on EURUSD decline to below 1.00 area, with a proper stop-loss orders above 1.0736 highs of September 20, which was the day of the last meeting of the Federal Reserve.
Disclaimer:
The comments, insights, and reviews posted in this section are solely the opinions and perspectives of authors and do not represent the views or endorsements of RHC Investments or its administrators, except if explicitly indicated. RHC Investments provides a platform for users to share their thoughts on financial market news, investing strategies, and related topics. However, we do not guarantee the accuracy, completeness, or reliability of any user-generated content.
Investment Risks and Advice:
Please be aware that all investment decisions involve risks, and the information shared on metadoro.com should not be considered as financial advice. Always conduct thorough research, seek professional advice, and exercise caution when making investment decisions.
Moderation and Monitoring:
While we strive to maintain a respectful and informative environment, we cannot endorse or verify the accuracy of all user-generated content. We reserve the right to moderate, edit, or remove any comments or posts that violate our community guidelines, infringe on intellectual property rights, or contain harmful content.
Content Ownership:
By submitting content to metadoro.com, users grant RHC Investments a non-exclusive, royalty-free license to use, display, and distribute the content. Users are responsible for ensuring they have the necessary rights to share the content they post.
Community Guidelines:
To maintain a positive and respectful community, users are expected to adhere to the community guidelines of Metadoro. Any content that is misleading, offensive, or violates applicable laws and regulations will be subject to moderation or removal.
Changes to Disclaimer:
We reserve the right to update, modify, or amend this disclaimer at any time. Users are encouraged to review this disclaimer periodically to stay informed about any changes.
