Market now is on the positive side. Eurozone heading towards recovery, says ECB boss Mario Draghi and this tendency is going to continue. After that there was a stock market rising on Wednesday and then rising of the all the risk-generating assets including currency.
Remarkably, main currencies had reached their support point just before that and were on that level for several days. The growth of the currencies was only due to the fact of today's positive news. Of course different currencies reacted in a different way to the news. So Currency pair EUR/USD did not show high level of growth it just compensated the previous fall on Tuesday. Most likely it is connected with the eurozone risks, which concern investors. Currency pair EUR/USD could face resistance at 1.2630.
The future behavior of the pair will determine the course of actions. The are some different possible scenarios. If the pair pushes then it can be said that the correction has finished and start to sell short. In another case the change of the trend might be ancipated and sell long. At the moment it is better not to speculate on the EUR/USD market.Social button for Joomla