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EUR/USD: ‘Things Dont Matter Until They Do’; Rallies A

EUR/USD has hardly been reacting to political events but this does not mean that things cannot change as we’ve seen with the crisis in Catalonia. Here is the view from Nordea.

Here is their view, courtesy of eFXnews:

Nordea FX Strategy Research notes that  EUR/USD recent price action reflects how things don’t matter until they suddenly start to matter, as evidenced by the market recently having to digest the political events surrounding Catalonia.

Further escalations cannot be ruled out, such as a formal declaration of independence (which would be short-term EUR-negative). We also think these events serve as a reminder that several strong centrifugal forces remain at work across the West,” Nordea argues.

While EUR/USD trades at our Q4 forecast of 1.17, we think a sell-on rally stance makes sense for now,” Nordea advises.

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Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.