The surplus of dollar liquidity in the interbank lending markets in New York and London is still high and during such periods it is difficult to count on the strengthening of the US dollar. Earlier, the ECB announced the results of its meeting on monetary policy, where it raised the forecasts for inflation and GDP for this year, and also announced an increase in the volume of buybacks in the coming months.

This is a mildly negative factor for the euro, inasmuch as investors expected such an outcome and there were no surprises. Generally, I expect growth in the quotes of this currency pair, insofar as the surplus of dollar liquidity in the banking system will outweigh all the negative factors from the ECB.

Investment idea: Buy 1.1945/1.1930 and take profit 1.2000.