A Contrarian Case for EUR/USD

Trading Discussion Currencies
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EUR/USD has come under immense bearish pressure this year, and given the EU’s economic backdrop, especially relative to the US, it’s not hard to imagine why.

A number of factors have caused the pair’s downtrend to accelerate this year, and as result, finally break back below parity for the first time in 20 years. However, is there a chance that all of this negative news has been priced into the market?

With the major US economic data for the month behind us, EUR/USD could be in for a countertrend rally as the greenback’s strength eases, and this may help fuel a retest of the all-important 1.0000 level

Check out this market commentary for a deeper analysis on EUR/USD:

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It is more likely that it will retest previous lows as winter is coming when energy problems start to flourish. Still holding my short EURUSD position at Hotforex and will double down the bearish bet if it recovers to parity.