The EURUSD traversed over the 1.10000 ratio for the first time since April 2022: Forex Trading
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Bullish traders could not have been faulted for believing the lower move in the EUR/USD was a natural market reaction based on the belief some financial institutions may have concluded the currency pair had been overbought in the short term Suddenly financial institutions and traders were given economic statistics showing the U.S. economy may be quite vibrant and that inflation remains a legitimate danger
Contrarians who are day traders and continue to believe the bullish movement will reignite in the EUR/USD should be cautious early this week and use solid risk management.Having sustained a solidrun over the mid-term, the sudden selloff in the EUR/USD likely delivered costly losses for traders caught betting in the wrong direction.
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