The week was positive for the greenback. The US dollar index managed to set new highs near $93.50.
EUR/USD: forecast for May 1-5
EUR/USD opened the week with a bullish gap on the news that a pro-European candidate Emmanuel Marcon won the most votes in the first round of French presidential election. In the second round of the vote on May 7 Macron is expected to win against the Eurosceptic Marine Le Pen. Already at this point, many think that the European political risks have diminished. This is a bright spot for the euro.
This is Forex trading plan for Thursday, May 24…
It seems like the rally of the greenback has ended. On Monday, the US dollar index tested levels near $94, however, closed below $93.50.
Last week was highly positive for the US dollar, so, it managed to end the Friday’s trading above 93.50.