The EURUSD dove on Friday; this after the currency pair had already experienced plenty of selling on Thursday- Forex Trading
Get DailyForex analysis to your emailThe EUR/USD slid towards lows not seen since the middle of April, nervous sentiment on Thursday and Friday erupted as Forex conditions reacted to troubling economic data globally.dove on Friday; this after the currency pair had already experienced plenty of selling on Thursday.
Suddenly the price velocity of selling on Thursday got stronger, and then on Friday support levels for the EUR/USD became even more vulnerable. While the U.S. produced rather poor consumer sentiment numbers, stubborn inflation in the U.S. remains a worry for U.S. Federal Reserve watchers who fear another potential interest rate hike in June.While the stubborn U.S.
Monday’s opening in the EUR/USD should be monitored closely for reactions, and traders who have bullish inclinations will want to see the currency pair first regain some stability.CPI data will come from the E.U on Wednesday and this will also factor into the EUR/USD.Having traded to highs early last week may have made bullish speculators of the EUR/USD feel as if new price levels would certainly be seen as the week progressed like the 1.11000 target.
Behavioral sentiment will be important this week and speculators will react to broad market conditions
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