EUR / USD: Euro Dollar tries to stay above 1.20 after the ECB but will it be able to resume its upward trend?

The EUR / USD pair rose after Draghi's speech and is still above 1.20.

Indeed, a mixed speech on behalf of the ECB President supported the Euro on the Forex, sending EUR / USD towards the 1.2060.

While Draghi mentioned the Euro as the reason for the downward revision of inflation forecasts, which could have weighed on EUR / USD, the President of the ECB also delivered several messages of confidence and optimism.

Draghi has indeed welcomed the solid growth and consumption of households in the euro area which is expected to continue. The GDP forecast for 2017 has been revised upward.

On inflation, despite some disappointment and a downward revision of forecasts for 2018 and 2019, Draghi was optimistic about the underlying pressures and a rise in inflation over the medium term.

In addition, Draghi clearly reported an EQ announcement at the October meeting.

source: www.Professeurforex.com