The Euro-dollar exchange rate rose above 1.20 for the first time since Jan 2015

The Euro against the dollar for the first time since Jan 2015 exceeded the mark of 1.2000. Due to performance above the located stops quotations in Euro/dollar (EURUSD) soared to 1.2028. The cause of this movement was a new surge of geopolitical tensions around the Korean Peninsula. Despite the fact that technical indicators point to short the Euro is overbought, further upward movement in EURUSD is not ruled out. On the contrary, the trend of increasing demand for safe assets during the next trading days only to gain momentum. Technical chain reaction in the form of reducing medium-term long positions on the dollar is in fact breaking the 1.2000 level may stimulate the continued growth to 1.2130/50 area. Only in this region, you can count on the first correction.

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