During the last week the Euro currency showed stable growth. EURUSD came close to 1.4500.
The common currency is growing as the US dollar is showing some weakness. The ECB has already increased the key interest rate in order to curb the inflation pressure and is probably going to keep toughening its monetary policy, which definitely favors the strengthening of the common European currency.
Today there is no significant macroeconomic news:
For today’s Euro session the Department of Volume Analysis of has defined the following trends:
The mid-term trend of EURUSD is upward
The short-term trend of 6EM1 (EURUSD futures) is the following:
The way the price will react to 1.4416, Friday’s max volume cluster (9800lots), will determine the future succession of events. On breaking below the level the price will probably go further down. If the level remains unbroken the current uptrend will continue.
