Euro to Trade between 1.2180-1.2235 on Thursday

In analysts’ opinion, the EUR/USD pair will continue strengthening and will trade in the 1.2150 and 1.2265 range in the near-term.  

Yesterday, analysts’ prognosis was that the euro will trade sideways in the 1.2195 and 1.2240 area. But the currency did not live up to their expectations. It dipped to 1.2162, though later on, it managed to climb back. Although analysts are divided on the euro’s progression in the near-term, they foresee that it will trade somewhere between 1.2180 and 1.2235 on Thursday.

In the longer term, the EUR/USD pair is foreseen to trade between 1.2150 and 1.2265. As mentioned, the shorter-term outlook is mixed. In the future, the euro needs to close below 1.2150 or above 1.2265 before it makes a sustained move in any direction. 

The EUR/USD pair traded 0.1% lower at 1.2196 at the European open.