EUR/USD Forecast - U... dari FatGor

EUR/USD Forecast - Uncertainty Remains US Retail Sales soared in May, while Fed's chief Powell cooled down corporate bond-buying expectations. EUR/USD retreated from highs, with increased bearish potential in the short-term. German ZEW Survey showed that Economic Sentiment improved in June, as the German index came in at 63.4 while for the whole EU, it resulted in 58.6. Inflation in the country met the market's expectations.

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Equity markets fell under pressure in early trading on Tuesday, leading to a bounce in the dollar and a further decline in EUR/USD which peaked ahead of the 1.1400 price point on Friday. Support for the pair is seen at 1.1232, and considering the recent upward momentum, buyers are likely to defend the level. In the event the pair breaks below it, the next level of downside interest falls at 1.1176.

FatGor

Sellers are back in near-term control on a break under the key hourly moving averages, and notably driving price below some near-term support around 107.34-40. That has seen the yen accelerate gains against the dollar, with 10-year Treasury yields also slumping to session lows - down by nearly 3 bps to 0.662%. The risk tones in the market are looking more cautious/defensive and has seen quite a turn of events following the announcement by US president Trump here yesterday. All eyes will be on that now but the dollar in general also isn't faring too well ahead of European trading, so that is adding to the softness in USD/JPY here.

FatGor

ECB announced €600 billion worth of bond buybacks, and the Euro tried to break out during the trading session on Thursday. While normally bad for a currency, the initial reaction was very bullish. Since then, the markets have calmed down a bit and it looks as if the 1.1250 level is going to continue to offer a bit of a barrier. With that in mind, I do think that if we break down below the lows of the Thursday session, we can begin the correction that is so desperately needed in this market. At this point, only fools are buying after a move like this. Yes, it can extend it but that only adds more fuel to the fire when we pullback. If you wanted to get long of this market, you need to do it after a significant pullback so that we can gain the necessary momentum to do that.

FatGor