EUR/USD losing momentum ahead of important US reports
The EUR/USD pair is printing an indecisive candlestick after a bull run last week, signaling that market participants are taking a break to assess latest news from the Fed.
The USD consolidation phase may not last long as important US reports are scheduled for tomorrow: US retail sales, core retail sales, and Fed's Powell is delivering a speech.
The pair will likely continue to trade sideways until markets get a clearer picture of the future US monetary policy.
We're overall neutral/bullish on the pair. The price made consecutive higher highs and higher lows since May, and we've already traded the recent wedge breakout combined with a hidden bullish RSI divergence.
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The USD consolidation phase may not last long as important US reports are scheduled for tomorrow: US retail sales, core retail sales, and Fed's Powell is delivering a speech.
The pair will likely continue to trade sideways until markets get a clearer picture of the future US monetary policy.
We're overall neutral/bullish on the pair. The price made consecutive higher highs and higher lows since May, and we've already traded the recent wedge breakout combined with a hidden bullish RSI divergence.
Like our analysis? Please support us by hitting the "LIKE" button. Thanks!
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