The pair EUR/USD is traded upward at the Forex currency market on Thursday morning, continuing upsurge which started last night.
By 10.25 Moscow time the Euro is at 1.3869 against closing session level of 1.3864 yesterday.
Investors’ optimism today is based on the old foundation – market expects that in the result of the meeting of the European Central Bank which is scheduled for Thursday, the head of the regulator Mr. Trichet will give allusion on the time when monetary tightening policy will start in Eurozone.
In addition German statistics this morning was very positive: retail sales rose by 1.4% in January against the forecast of increase by 0.5%.
Therefore, the Euro is only by 0.3% below the highs of November, and it has touched the level of 1.3890 yesterday.
Worth noting that in advance of the ECB meeting, players can take wait –and- see policy.
Most likely the pair EUR/USD will not go beyond the range of 1.3780-1.3930 at the trading session on Thursday.