EUR/USD: If 1.2050 holds, a new cycle high will be in sight – SocGen

EUR/USD down 13 pips to 1.2113 today

Societe Generale Research discusses EUR/USD outlook and flags a scope for a new cycle high for the pair over the coming weeks.

As for the euro, the key may still lie in Bund yields.
We are less concerned about the treasury/Bund yield difference here,
than the Bund yield itself. If that is rising, reflecting improving
economic confidence on this side of the Atlantic too, then the euro
uptrend should persist,” SocGen notes.

EUR/USD 1.2050 looks like important support now, and if that holds we’re on track for new cycle highs,” SocGen adds.

Invest in yourself. See our forex education hub.

Articles You May Like

EURUSD falls to NY session low
Arbitrage Basics for Forex Traders.mp4
Real FOREX trading strategy – Trade explained
Trade ideas thread – European session 13 May 2021
No winners in the major stock indices for the 2nd consecutive day

Leave a Reply

Your email address will not be published. Required fields are marked *