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EURO Slumps


Breed

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It seems the euro is having crises at this time and might continue like this for sometime, as it took fire from different directions at the start of the week, suffering heavy losses against the U.S. dollar amid risk-off sentiment and broad-based DXY strength. At midday, the EUR/USD was down 1.1% to 1.0069, but earlier in the day it fell as much as 1.3%, flirting with exchange rate parity for the first time since late 2002.

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On 7/11/2022 at 11:32 PM, Breed said:

It seems the euro is having crises at this time and might continue like this for sometime, as it took fire from different directions at the start of the week, suffering heavy losses against the U.S. dollar amid risk-off sentiment and broad-based DXY strength. At midday, the EUR/USD was down 1.1% to 1.0069, but earlier in the day it fell as much as 1.3%, flirting with exchange rate parity for the first time since late 2002.

The energy crisis appears to be avoided now it's time for recovery especially after hawkish ECB message and quite dovish Fed updated in December. I guess the price has good chances for upside targeting 1.10 level.

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