Open trading account
As the dollar absorbed the effect of FED´s policy decision, it continued to strengthen against all major currencies today. This couldn´t even be stopped by Prelim UoM Consumer Sentiment announcement, which was significantly worse than expected. At this stage, currency market seems to have absorbed all the important fundaments and it another major price movement in all major currencies is unlikely until Tuesday.
Source: investing.com
Then, important data will be released, likely having impact on both EUR and GBP currency pairs. As those results are expected to beat the consensus, it is not improbable that we will see a slight growth in EUR and GBP pair in the next two trading days.
On the technical side, the vast majority of indicators are sending mixed signals, underpinning the argument that the momentum in EURUSD growth is weaker than yesterday. My overall recommendation would be to close all your positions and wait till Monday. Should EURUSD continue depreciating, I will make a contrarian trade, with a modest SL following the logic of the paragraph above.
Source: investing.com
Then, important data will be released, likely having impact on both EUR and GBP currency pairs. As those results are expected to beat the consensus, it is not improbable that we will see a slight growth in EUR and GBP pair in the next two trading days.
On the technical side, the vast majority of indicators are sending mixed signals, underpinning the argument that the momentum in EURUSD growth is weaker than yesterday. My overall recommendation would be to close all your positions and wait till Monday. Should EURUSD continue depreciating, I will make a contrarian trade, with a modest SL following the logic of the paragraph above.
