Trading signals

EUR/USD

EURUSD

The dollar remained in the driver's seat amid the upbeat US figures and the risk-aversion sentiment. Besides, the ECB started to talk about following the Fed’s approach in inflation. This news became negative for the European currency, moreover, the negative EU data added some pressure to the euro.

 

The main scenario is a move towards 1.1800.

An alternative scenario is a decline to the 1.1660 region.

 

Trading recommendations

 

Bullish traders are likely to remain in control in the coming days. However, they need to regain the level 1.1750 to be able to drive the euro upwards. If they manage to overcome the obstacle, the currency pair might visit 1.1800.

The euro won't be able to test 1.1660 until bulls break 1.1720.

 

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