EURUSD is moving within a smaller range than last week, between 1.3570 – 1.3650 zone. The June FOMC meeting just can held Euro break 1.3585 and 1.3670 zone is still a strong resistant level. This week, although the US GDP Q1 was bad but the reaction of Euro was also very limited.
Although EURUSD is consolidating in a higher range as compare with last week, ourview on Euro is still bearish. There is some second tier report today but we dont think that it can make Euro move out the range.
Next week will the busy week for the forex market and we expect the direction of Euro will be set clearer.
Our strategy today is to continue looking for selling opportunities below 1.3670 zone with tight stop and small profit target.
Forex Trading Signal:
+1.3970 – 1.400
+1.3585 – 1.3600
Forex Signals 247