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Daily Strategy - The dollar may lose again today

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  • Daily Strategy - The dollar may lose again today

    EURUSD (1.2461)
    Trend: Neutral/Upward
    Support/Resistance: 1.2330 - 1.2490
    The dollar recovery against the Euro for a short time after yesterday reports for CPI and Retail Sales.
    But it was temporary and the dollar losses continue few hours after the key U.S. data. For today the key events are at 8:30 AM Eastern Time is Initial Claims, Continuing Claims, PPI, Core PPI, Empire Manufacturing and Philadelphia Fed. Later at 9:15 AM ET expects Industrial Production and Capacity Utilization.
    The fundamental events from United States may push the dollar losses higher. trading strategy today is to continue with long EURUSD position or open long at any correction down. We expect to see levels close or above the key resistance at 1.2490.

  • #2
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