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03.01.202311:40 Forex Analysis & Reviews: Euro dips after the New Year

Exchange Rates 03.01.2023 analysis

EUR/USD

Exchange Rates 03.01.2023 analysis

Dollar index, daily chart.

Euro's growth was weak and unstable so it was not surprising that it fell to 1.0545 as soon as the European trading session started.

However, this does not mean that market players should immediately buy the pair as it could still fall to 1.0300-1.0250.

Unfortunately, euro did not try to rise before it fell so there was no good point to start selling.

The reason why euro fell is the weaker EU economy and lower yields than in the US.

Look for selling points if the euro turns sharply upwards.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Jozef Kovach,
Analytical expert of InstaSpot
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