Euro currency has ride a rising wave which pushed it back to 2011 highs. The first half of last week was calm, but the second half brought some interesting market moves. The ECB press conference has triggered the rally for the single currency. Beside the fact that the ECB maintained the interest rate unchanged, Draghi kept its optimist tone at the press conference.
After EURUSD reached a multiannual high it was helped to retreat back under 1.3900 on Friday when the NFP was published above analyst’s expectations. The 175K published for the Non-Farm Employment Change and the 6.7% unemployment rate pushed the dollar a bit higher, but the EURUSD did not fell lower than 1.3850.
Keep on reading our article to see what to expect for this week and also what our technical view are for the short and medium term for the EURUSD price action.