On the eve, the euro showed growth on the positive statistics on GDP in the eurozone, but the actions of the US Treasury to place bonds in the amount of $63.1 billion interrupted the trend. I would like to note that the next substantial auction by the Ministry of Finance is scheduled for March 1, when the Treasury will place securities for $139 billion.
Therefore, the euro has a week and a half to demonstrate the growth of quotations. I would like to note that in March the Ministry of Finance will raise $412.9 billion through the bond issue, which is 2 times more than in February and 6 times more than in January. Therefore, in March, especially in the second half, I expect a decline in the quotes of this currency pair, and before a strong fall, the market is usually “driven” to maximum.
Investment idea: Buy 1.2082/1.2060 and take profit 1.2168.