Closed: Discuss EUR/USD News with a DailyFX Analyst
This thread is dedicated to the EUR/USD and will be moderated by a real DailyFX Analyst who will post news, research and anything else that pertains to this pair. Please feel free to express your opinion about what direction you believe the market will take and what you think about the research presented.
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Is this the week for Dollar to rebound?
In our weekly trade or fade we argue that this week may see a rebound in the dollar if for nothing else then for technical reasons alone. The currency is grossly oversold with sentiment widely bearish and in these type of instances even a small upside surprise could trigger a powerful move.
Today we have Consumer Sentiment and Existing Home Sales. If we get better than expected results we may see a test of the 1.3500 figure as shorts try to push the pair lower and probe for the many stops scattered at that level.
What do you think will happen today?
Weak US Data Changes the Game
Weak existing homes sales and consumer confidence changes the game this week. The EUR/USD has broken higher and even though we could see some retracement over the next few hours, if the German IFO number prints strongly tomorrow morning, we could see the EUR/USD hit a fresh all time high.