According to Jinshi Data on August 21, ING Bank said that the euro may continue its recent rise against the US dollar before the Federal Reserve's upcoming interest rate cut, especially if the euro breaks through the resistance level, it will rise further rapidly.
Analyst Chris Turner said in a note that the U.S. presidential election in November is likely to limit any rebound in EUR/USD, but if EUR/USD does manage to break through resistance on a sustained basis, it could rise sharply given the very low levels of realized volatility.
We are reluctant to fight the EUR/USD bull trend until the US economy slows and the Fed cuts interest rates for the first time in September.
