While the dollar is on a downtrend this week and against a basket of currencies, the USD dipped 0.1% to 93.180; it now sits at a crossroads: flat for the month after a roughly 10% slide. As the greenback is now set for a rebound we’d like to sell EURUSD at 1.1775 with SL at 1.1875 (or higher for more safety) with TP1 at 1.1630 and TP2 at 1.1500

Chart

The weekly charts point to a stronger USD which seems more likely after the recent push higher. We will also be looking at the U.S. consumer confidence figures at 14:00 GMT for further guidance as to the relative performance of the US economy.

Risk Warning: CFDs are complex instruments and come with a high risk of losing your invested capital due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

The content of this material and/or any information provided by BDSwiss Group should not be in any way construed, either explicitly or implicitly, directly or indirectly, as investment advice, recommendation or suggestion of an investment strategy with respect to a financial instrument and it is not intended to provide a sufficient basis on which to make investment decisions, in any manner whatsoever. Any information, views or opinions presented in this material have been obtained or derived from sources believed by the BDSwiss Research Department to be reliable, but BDSwiss makes no representation as to their accuracy or completeness. BDSwiss Group accepts no liability for losses arising from the use of this data and information. The data and information contained herein are for background purposes only and do not purport to be full or complete.

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