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- EUR/USD: 1.10 to keep being the anchor for the pair this week – ING
EUR/USD: 1.10 to keep being the anchor for the pair this week – ING
Economists at ING analyze EUR/USD outlook for this week.
EUR/USD faces some stretched positioning in the near term
“Net long positions are now worth 22% of open interest, the highest since January 2021 and not far from 27% five-year highs. This mostly has implications for the near term, so, while we remain resolutely bullish on EUR/USD in the longer run on the back of US-Eurozone (and Fed-ECB) divergence and pronounced undervaluation, we flag positioning as one reason to be cautious on the short-term outlook.k.”
“We expect 1.10 to keep being the anchor for EUR/USD this week.”
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