EUR/USD bulls face more problems because of a decline in the euro-area PMI, growing political risks in Italy and ECB dovish comments
The University of Michigan’s U.S. consumer sentiment plummeted to a seven-month low in August has a little discouraged the EURUSD bears but hasn’t made them give up their plans. The weakness of the euro-area economy, the ECB willingness to ease its monetary policy, as well as the growth of political risks put quite a strong pressure on the single European currency. Therefore, the chance of the euro’s fall to a level of $1.1 has increased to 49%. Just…
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