FOREX TECHNICAL & NEWS ANALYSIS:IS EUR/USD SUITABLE TO GO SHORT

Investors looking for a suitable price level to go short on EUR/USD. The pair showed strong bullish trend, after the ECB Conference statement in March. The pair is now at the highest level of  2 year. The pair is waiting for the USD Retail Sales, Import Price Index (MoM), and Initial Jobless Claims data.

Source:metatrader4.com

The pair is expected to be bearish, if the USD economic data come better than expected. Better than expected data may lead the pair to decline 100pips today. 

Published @ 10:02 AM ,Thursday, March 13, 2014