The battle for a strong dollar is not over yet.
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.
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