Trading signals

EUR/USD

EURUSD

Powell failed to impress traders. However, the dollar remained strong amid the upbeat data. Traders shifted the focus to EU GDP and Fed’s representatives.

 

The main scenario is a growth to the area of 1.1030.

An alternative scenario is a decline to the 1.0980 level. 

 

Trading recommendations

 

Buy the EUR/USD pair to 1.1030 if the spot returns above 1.1000. 

A break below 1.0990 would likely accelerate the decline leading to a test of 1.0980.

 

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