A monumental rescue package from the EU has impacted the EUR USD chart and in our analysis we will talk about the upward momentum this has provided, as we go into June.
Positive sentiment around a potential coronavirus vaccine were also evident in the EUR USD chart analysis this week, even before news of the 750 billion in stimulus measures were announced.
The optimistic outlook saw EUR gain some momentum over the USD safe-haven in the EUR/USD chart on Tuesday. There was a pretty large-scale USD selloff that resulted in some rather hefty bids for EUR USD. And further aiding the EUR USD analysis is the Gfk German Consumer Confidence Index, which has seen some positive upwards movement over the last few weeks.
However, there are factors suppressing this upwards movement in the EUR/USD analysis, as well. Namely, tensions between the US and China have without doubt pulled the reins in on current EUR USD trading.
What will this all translate to for EUR USD in 2020 from here on? Watch the full video for our detailed EUR forecast and dissection of the current EUR USD chart.
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