EUR/USD 2023 Outlook: The Euro's reversal vs. a return to parity
in the coming months should reduce expectations of a rate hike for the central bank concerned. Conversely, if central bank action does not appear to be sufficient to bring inflation back toward its target, rate expectations could rise.
The war in Ukraine is also a potential double-edged"wild card" that should not be overlooked. A possible end to the conflict in 2023 could be a powerful bullish factor for EUR/USD. The 50-day moving average crossing above the 200-day moving average is a major bullish technical signal known as a"golden cross". The last time this signal was recorded, at the end of June 2020, the EUR/USD subsequently recorded a gain of about 1150 pips in the following 6 months.
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