In this less, We learn about "EUR/USD Price Forecast: Battered Euro May Be in for More Pain". Let's Go!
EZ CPI report shows soft headline inflation with core remaining stick.
EUR/USD DAILY CHART:
Daily EUR/USD price action is necessary channel support (black) after a success of long upper wicks cans (blue) Current fundamentals are in favor of further dollar strength short term and with no high impact economic data to speak between now and Jackson Hole, traders will be Cautious as the symposium historically brings about large volatile market reactions
50 day moving average (yellow)
IG CLIENT SENTIMENT DATA: BEARISH
IGCS shows retail traders are currently both on NET LONG EUR/USD, with 61% of traders currently holding long positions (as of this writing) Download the latest sentient guide (below) to see how daily and weekly positional changes affect EUR/USD sentient and outlook.