During September, the Euro has weakened broadly. Economists at Nordea analyze EUR/USD outlook. Downward momentum in EUR/USD unlikely to last From a te
From a technical perspective, a 14-day Relative Strength Index below 30 points to a USD that is overbought against the EUR, which means that further downside should be limited.
While the USD could continue to do well in the very short term, we still are inclined to think that the USD fortunes will reverse next year as it is unlikely that the US economic outperformance will last.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.EUR/USD lost its bullish momentum and retreated below 1.0500 in the American session on Wednesday. Although the data from the US showed a loss of momentum in the service sector's activity, the cautious market stance helped the USD find demand and limited the pair's upside.GBP/USD reversed its direction and declined toward 1.2100 after rising to a daily high of 1.
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