Whatever it takes. And it does take very little from ECB to keep the EUR strengthening: just a do nothing with Draghi’s philosophical “if the time ever comes” for the new measures. And if the exchange rate is not a policy target at 1.36s…it is not a policy target at any levels. Stronger currency is no worry with most data improving: this week industrial data from the euro zone will likely show a modest improvement from last month, with the usual country-suspect in the lead. Take profit on ½ of EURUSD long (1.3450), keeping the rest for new highs, with SP at 1.3480. The 1.3690/1.3711 is crucial resistance area, on the way to 1.3835.
Read the full report: FX Research
Nordea