Canadian positive data and Donald Trump criticism of the FED made all currencies surge against the dollar. The greenback lost ground to euro making price enter again the 1.17x area. A bearish pennant, however, is a possible outcome on the daily chart, and breaking 1.15 would bring traders at least 250 pips to the south.
It is a new week where data figures will play a significant role. Most forecasts signal negative EU data and keep a positive outlook over US data. The most important event is ECB decision over interest rates on Thursday which are to be left unchanged. The judgement I made, therefore, is to short to 1.125.
It is a new week where data figures will play a significant role. Most forecasts signal negative EU data and keep a positive outlook over US data. The most important event is ECB decision over interest rates on Thursday which are to be left unchanged. The judgement I made, therefore, is to short to 1.125.
