Trading signals

EUR/USD

EURUSD

The last week US data offered some support to the dollar yesterday. Nevertheless, the euro found strength to start a correction. Traders are waiting for the ECB's meeting on Thursday. Markets would like to know how long the European rates will remain negative.

 

The main scenario is a growth to the 1.1120 resistance.

An alternative scenario is a bounce off 1.1100 downwards. 

 

Trading recommendations

 

A clear break above 1.1100 might force the pair to resume its upward trajectory towards 1.1120.

If the euro does a bearish rebound off 1.1100, the rate may ease to 1.1080.

 

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