“However, we have been arguing for a while that there is a disconnect between the strength of investor confidence and the vulnerability of the global economic climate… As is stands both the Eurozone and Japan are mired in recession and the Eurozone may not grow at all this year”, the analyst added.
“Although it is currently difficult to specify both the trigger and the exact timing for a correction lower in EUR/USD, we anticipate on a 3-6 mth view EUR/USD could fall sharply back towards the 1.30 area before resuming the current uptrend”, Foley concluded.
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 securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.