Euro puts up a white flag. Forecast as of 28.04.2022

Weekly fundamental forecast for euro
An energy crisis and fears of another economic recession worldwide have turned the EURUSD bulls into whipping boys. The main currency pair came close to the level of 1.05. Its breakout will increase the risk of reaching parity for the first time in 20 years. But first, sellers need to update the minimums of 2017 and December 2020 at 1.034 and 1.02.

Cutting off natural gas supplies to Poland and Bulgaria was interpreted differently in Europe. Someone called this step the Kremlin's "adventure" and "bluff," while someone believed it was the beginning of gas wars. Other countries from the "unfriendly list" may follow Poland and Bulgaria soon. Even if the gas price has not reached March's peaks yet, its 11% growth amid halting supplies to Warsaw and Sofia speaks loud and clear. The situation is getting worse against the backdrop of the euro's fall because gas prices are expressed in dollars in global markets. The countries that depend on Russian gas supplies the most are seriously at risk.

Key buyers of Russian gas, bcm

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