The trend in the EURUSD has been problematic for bullish speculators. Get the EURUSD forecast for the new week here:
finished last week’s trading near the 1.10096 mark; this after starting last Monday’s trading around the 1.10250 ratio.
However, on weaker-than-expected Non-Farm Employment Change data, the EUR/USD did climb on Friday and touched a high of nearly 1.10420 before incrementally selling off the final handful of hours before the weekend began. The U.S. will publish its Consumer Price Index data this Thursday and the inflation numbers from the States will be watched closely. Some analysts are expecting a slight rise in inflation due to higher energy costs. If the outcome doesn’t prove too strong this might be welcome by financial institutions and spark a reason to pursue buying positions of the EUR/USD.After touching a high of nearly 1.12775 on the 18of July, the EUR/USD has faced definite rounds of downward momentum.
Cautious traders should be careful about the opening of the EUR/USD this week, because of the reversal higher briefly seen on last Friday.
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