Why You Should Sell the U.S. Dollar and Buy the Euro Instead

Core Viewpoint - March Euro currency futures are presenting a buying opportunity due to recent price strength, with prices reaching a 2.5-month high, indicating a bullish trend for the Euro against the U.S. dollar [1]. Group 1: Technical Analysis - The March Euro currency futures have a resistance level at 1.1800; a breakout above this level would empower bullish traders and create a buying opportunity [2]. - The upside price objective for the Euro is set at 1.2050 or higher, while technical support is identified at 1.1700, where protective sell stops should be placed [2]. Group 2: Fundamental Analysis - A lukewarm U.S. economy and recent Federal Reserve interest rate cuts are bearish for the U.S. dollar, which supports a bullish outlook for the Euro [1]. - The European Central Bank's cautious stance on future interest rate cuts is also favorable for the Euro's price [1].