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Hello traders,
What happened today?
As usual Monday is very ranging day. But today was extremely volatile due to strong expectations and 1 big event.
EUR/USD started strongly bearish falling under 1.09 and soon after that recovering all the loses. All the participants were waiting for the big event - the ISM manufacturing which came better than expected and ruined the recovery of the Euro. The cable followed the same pattern and is on the way to the bearish trend continuation. This week are expected interest rate decisions and of course the NFP so everything is possible but for now it seem that the dollar index is the one we must watch carefully, because level 100 is again our target.
Good luck traders
What happened today?
As usual Monday is very ranging day. But today was extremely volatile due to strong expectations and 1 big event.
EUR/USD started strongly bearish falling under 1.09 and soon after that recovering all the loses. All the participants were waiting for the big event - the ISM manufacturing which came better than expected and ruined the recovery of the Euro. The cable followed the same pattern and is on the way to the bearish trend continuation. This week are expected interest rate decisions and of course the NFP so everything is possible but for now it seem that the dollar index is the one we must watch carefully, because level 100 is again our target.
Good luck traders
