The currency pair fluctuated in a tight range last week and went upwards on Friday. The main reasons for this uptrend were the ongoing US-China trade conflict and the comments of the US President about the FED activities.
Eurozone’s data was positive last week, but German Manufacturing PMI still remains below 50. Eurozone’s Manufacturing PMI remains below 50 as well.
The US President continues to criticize FED’s activities. He believes that the Interest Rates should be lower in order to provide faster economic growth. However, according to the latest FOMC Meeting Minutes, the central bank awaits for data to take any further decisions.
EUR/USD has got momentum currently due to the fears of further US-China trade conflict escalation. We expect some fundamental growth. Technically, the currency pair is able to reach 1,1285.
