EUR/USD eyes further gains towards the 1.13 – SocGen

EUR/USD advances for third day on tighter UST/Bund spread. Economists at Société Générale expect the world’s most popular currency pair to head towards the 1.13 level. 

EUR/USD forms a morning star

“The price action dovetails neatly with the narrowing UST/Bund spreads and swaps, led by the belly or 5y portion of the curve.”

“The morning star candlestick pattern in EUR/USD is bullish and points to a possible extension to 1.13.”