Lloyds Bank: the bullish trend of the euro is not broken yet

The euro managed to stabilize above 1.1660, which encouraged bulls to counterattack, but it did not go beyond 1.1750 / 60, and although the single European currency has recently been bought with reckless persistence in recessions, on the whole, the pair’s dynamics indicate the preservation of risks of development of a downward correction . Analysts at Lloyds Bank do not rule out a depreciation in the short term, but note that while EURUSD remains above 1.1625 / 00, where the trend line runs from April, it’s too early to talk about the beginning of the corrective phase. The bank notes that while the consolidation of the pair looks like a pause before the new stage of the uptrend with targets in the area of ​​1.20 / 1.23.

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