One year ago, EURUSD was trading on a high of 1.23700, and the eurozone was celebrating the stability of their common currency. Then the Brexit circus came to town and rumors of other countries losing faith in the EU started to circulate. Euro sentiment weakened shortly after, and then a 12-month downtrend started that recently bottomed at 1.12000. Will the euro recover in 2019? FX News may well have the answer to that question, along with an incredible trading insight for all our readers.
So far this year, EURUSD has been a rollercoaster of twice-per-month highs and lows offering superb short-term trading conditions. But these two heavy hitting currencies seem locked in a specific range. Is it time for the euro to bounce back? Should you ‘Buy’ EURUSD?
For the euro to gain dominance, something striking must happen, but there’s nothing on the cards that could fire up a euro breakout. Fortunately, the banks seem to have a solution. If they are right, traders everywhere can expect to see a massive euro rally in the coming months.
Dozens of banks are already promoting the euro, including these heavy hitters:
“At some point, one must put the money where the mouth is!”
Martin Enlund, Chief Analyst at Nordea Bank Abp.
A striking statement from Nordea, but what if all the European banks are actually doing the opposite—putting their mouth where they want the money to go? Are these the first signs of an orchestrated euro rally in the making? If the banks get it right, currency traders will be riding the ‘Buy’ button for the rest of the year with a max leverage setting.
It’s not an uncommon practice for financial powerhouses to influence forex prices using strategic announcements. Hyping a news announcement or financial report is not illegal. It’s also not unfair, even though it can heavily influence or boost prices in a desired direction. Most importantly, you as a forex trader can take advantage of the foresight and ride the influences of a strategic news release.
When numerous big-name banks start throwing positive sentiment towards a particular currency, investment firms and hedge fund managers tend to react in favor of the forecast. They can’t all be wrong… right? See for yourself what the financial world is saying and make your own sentiment-based euro forecast.
Just check the most popular financial news sites every day. See which currencies are getting all the “love”, then open your trading platform and check the prices. If the world believes what the big banks in Europe are forecasting, then a EURUSD ‘Buy’ order might end up being the best trade you’ll make this year.
Follow the big bank forecasts and trade euro CFDs
Not sure how to get started? No problem. Follow this step-by-step guide.