The pair is at war. US is trying to contain the value of USD against EUR otherwise US will loose an importante competitivity.
On the Other hand, EUR was loosing ground because of the situation concerning Greece. Since the Tension with Greece appear to be not over but at least in a more relax environment, EUR is gaining power against US
However, bare in mind that ECB has this unbelievable QE ttol in hand and yet the Central bank is spreading 60 Bio € in the market. Where as FEd has just and only the interest rate as a leverage and it is already very low. So short term the upside may be until 1.0978, but on the long run, it is still 1045 and bellow.
On the Other hand, EUR was loosing ground because of the situation concerning Greece. Since the Tension with Greece appear to be not over but at least in a more relax environment, EUR is gaining power against US
However, bare in mind that ECB has this unbelievable QE ttol in hand and yet the Central bank is spreading 60 Bio € in the market. Where as FEd has just and only the interest rate as a leverage and it is already very low. So short term the upside may be until 1.0978, but on the long run, it is still 1045 and bellow.
