Home EUR/USD to recover to 1.1650 and then consolidate – Societe Generale

EUR/USD to recover to 1.1650 and then consolidate – Societe Generale

Updated: 15 Jun. 2018 | 08:21

Societe Generale’s Head of FX and Money market sales in Tokyo, Kyosuke Suzuki, offers his view on the EUR/USD pair following yesterday’s European Central Bank (ECB) monetary policy outcome.

Key Quotes:

ECB’s pledge to keep rates low through the summer of 2019 was the biggest surprise of the outcome yesterday.

Support for EUR/USD is seen around 1.1500.

USD strength helped to magnify EUR selling but the latter is expected to eventually be underpinned by ECB’s direction towards an exit.

EUR/USD may recover to 1.1650 and then consolidate.

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.