The EUR/USD has been in a controlled downward channel for the last 3 months. Showing strong respect for the 50-day moving average. price has rallied to the top of our trends resistance for the first time since April first, will this strength continue by the Euro? or will we see another rejection of the resistance level and continued respect towards the 50-day moving average? We wait to confirm the possible direction of market price to look for an entry.
Personal income, as well as personal spending figures, are due to be released for the U.S within the next 3 hours. Forecasts show a possible negative growth in spending, which can prove negative for the dollar and U.S GDP growth. This may add to the overall Bullish sentiment for the pair and see the market price rise. We await the release of these figures as well as the direction of a higher time frame close outside of our resistance channel and the possible challenge of the 1.0800 level
Personal income, as well as personal spending figures, are due to be released for the U.S within the next 3 hours. Forecasts show a possible negative growth in spending, which can prove negative for the dollar and U.S GDP growth. This may add to the overall Bullish sentiment for the pair and see the market price rise. We await the release of these figures as well as the direction of a higher time frame close outside of our resistance channel and the possible challenge of the 1.0800 level