EURUSD: We are waiting for a new wave of decline.
At the end of last week, the EURUSD pair showed a full downward turn. The movement is not complete.
A new wave of decline is possible on Monday, perhaps it will be on an important report on the consumer income/expenditures in the US at 11:30 London time - the report will provide new data on inflation. The market expects inflation in the US - the inflation forecast for the RFE index is only at 1.4% However, we expect the indicator to be higher than the forecast.
Since the market has already gone down a considerable distance, we sell with a rebound upwards:
Selling from 1.1660 to 1.1700. The minimum goal is to repeat the lows around 1.1580. The target is 1.1500.
No comments:
Post a Comment