Daily Strategy - The dollar may lose again today

World-Signals Team World-Signals

EURUSD (1.2461)
Trend: Neutral/Upward
Support/Resistance: 1.2330 - 1.2490
The dollar recovery against the Euro for a short time after yesterday reports for CPI and Retail Sales.
But it was temporary and the dollar losses continue few hours after the key U.S. data. For today the key events are at 8:30 AM Eastern Time is Initial Claims, Continuing Claims, PPI, Core PPI, Empire Manufacturing and Philadelphia Fed. Later at 9:15 AM ET expects Industrial Production and Capacity Utilization.
The fundamental events from United States may push the dollar losses higher.
World-Signals.com trading strategy today is to continue with long EURUSD position or open long at any correction down. We expect to see levels close or above the key resistance at 1.2490.

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World-Signals Team

World-Signals

EUR/USD turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.