According to the recent article published by Der Spiegel, the ECB considers the possibility of reconsidering the bond yield of risky eurozone economies. This was a bullish sign for currency speculators. However, the Germany authorities said they didn’t know anything about it. This news release disappointed the market. As a result, the Euro showed some weakness.
According to HSBC Holdings PLC, a range of disappointing news releases made investors risk-averse. Citigroup reports that last week’s trading range of EURUSD was one of the lowest in 5 years.
According to Commerzbank, traders and investors will be focused on the eurozone crisis once again in the near future.
According to , EURUSD recovering against the recent downswing. If the shortened wave C H4 is completed, we may see a price rally, especially if it breaks above the 1.2382 high. If this is the case, the price may encounter resistance around 1.2385 and 1.2441-43. A break below 1.2255 will start a bearish move А down to 1.2240.
