Over the last months, we are observing an ongoing fall of the dollar pass from 1.1570 to 1.2472 in EUR/USD. After 2017, the dollar had a significant depreciation, and this may continue in 2018 too. According to statistical data, the European economy presents a recovery. This combined with the overheating of the US economy may indicate that the EURUSD may continue rising.
The last speech of Mario Draghi has indicated that the Euro is almost in the right place to stop the stimulus and confirmed that there wouldn’t be there anymore. This could be interpreted as a positive signal for the Euro Zone. On the contrary, based on the last NFP data, the US economy seems to be overheated. Based on this, investors may expect further depreciation.
On Thursday, 26th of April, new interest rate data will be released. Therefore, the market may shape new expectations towards EURO. Moreover, on Wednesday, 2nd of May, Jerome Powell will have his second meeting. Following this meeting, we may see interesting market reactions.
In a more short-term view, it could be noticed that EURUSD seems to be in a flat trend, a fact that may give some remarkable opportunities to enter the market. The price seems to move between 1.2393 and 1.2227. In a daily chart, we may observe a triangle which may show us when more or less the EURUSD movements.
GBPUSD seems to present a bullish trend for several months. The price seems to have reached the pre-Brexit levels.
Despite the fact that cryptos are presenting a fall, some bullish movements seem to indicate that Bitcoin is getting out of the bearish trend which has started at the beginning of this year. It could be said that currently there are some good opportunities to enter the market.
Good luck with your trades!
About the author: Dércio Pires is Senior Manager and Market Analyst at TeleTrade. Dércio is an experienced Trader. He has 8 years of trading experience in Forex and other financial instruments. According to Dércio, Fundamental Analysis of various financial assets combined with the respective Technical Analysis is essential.
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