EUR/USD has finally closed on a daily basis above 1.0870.
I covered my short at 1.0840 this morning after USD PMI print was just slightly better than expected but still in contraction territory.
The Euro zone PMI print last night, however, had moved it over the expansion level although German manufacturing(surprisingly so for the economic engine of Europe) was disappointing.
I have already moved my stop up to just below 1.0870 and will keep a very close eye on German IFO later tonight
BUT ultimately the USD GDP and PCE on Thursday and Friday will influence EUR/USD.
Initial target is 1.0926(spike high) 1.0936(previous weekly break higher, then lower) 1.0944(50% retracement and weekly low)
Microsoft kicked off earnings season with an increase in revenue and slightly lower EPS which on a whole is positive but despite that US Indices futures are lower at the moment.
In conclusion, the markets are on a hair trigger at the moment until the Federal Reserve interest rate decision next Wednesday 2/1/23
I covered my short at 1.0840 this morning after USD PMI print was just slightly better than expected but still in contraction territory.
The Euro zone PMI print last night, however, had moved it over the expansion level although German manufacturing(surprisingly so for the economic engine of Europe) was disappointing.
I have already moved my stop up to just below 1.0870 and will keep a very close eye on German IFO later tonight
BUT ultimately the USD GDP and PCE on Thursday and Friday will influence EUR/USD.
Initial target is 1.0926(spike high) 1.0936(previous weekly break higher, then lower) 1.0944(50% retracement and weekly low)
Microsoft kicked off earnings season with an increase in revenue and slightly lower EPS which on a whole is positive but despite that US Indices futures are lower at the moment.
In conclusion, the markets are on a hair trigger at the moment until the Federal Reserve interest rate decision next Wednesday 2/1/23
Trade closed manually:
Exited long from 1.0842 at 1.0910 and took a small short that was exited at 1.0870.
Bought at 1.0860 and exited again at 1.0910 this morning.
Now short at 1.0908 with eye on USD GDP and PCE print on Friday.
However, I won't be surprised to see a spike up to the 1.0946 level prior to these risk events.
Bought at 1.0860 and exited again at 1.0910 this morning.
Now short at 1.0908 with eye on USD GDP and PCE print on Friday.
However, I won't be surprised to see a spike up to the 1.0946 level prior to these risk events.