Mazen Issa, Senior FX Strategist at TD Securities, warn that the EUR/USD pair is approaching a key resistance level. He sees some similarities between the current rally and the one it took place during mid-2017. Key Quotes: “EURUSD’s ascent may be reminiscent of the mid-2017 melt-up before peaking around 1.25. While some say that history doesn’t repeat itself, it sure does rhyme. At that time, Euroscepticism was high ahead of the French elections. Macron’s victory offered another lifeline to the EU project, however. We may now be in a similar situation. EURUSD’s lift-off comes on the heels of the EU Recovery Fund (ERF) proposal in May. Some think this puts it one step closer to a fiscal union.” “EURUSD’s ascent since the ERF has been relentless. We are wary as the pair nears multi-year daily downtrend resistance ~1.18+. We see this as a litmus test over the durability of EURUSD’s surge, and where skewed tactical positioning and valuations (on our dashboard) begin to bite.” FX Street 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 Post By FX Street FXStreet News share Read Next USD/BRL forecast at 5.25 by year-end – Rabobank FX Street 3 years Mazen Issa, Senior FX Strategist at TD Securities, warn that the EUR/USD pair is approaching a key resistance level. He sees some similarities between the current rally and the one it took place during mid-2017. Key Quotes: “EURUSD’s ascent may be reminiscent of the mid-2017 melt-up before peaking around 1.25. While some say that history doesn't repeat itself, it sure does rhyme. At that time, Euroscepticism was high ahead of the French elections. Macron's victory offered another lifeline to the EU project, however. We may now be in a similar situation. EURUSD’s lift-off comes on the heels of the EU… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
