Week: 11-15.01.2021
Key event: USD. Retail Sales
The measure of the total receipts of retail stores. Changes in Retail Sales are widely followed as an indicator of consumer spending.
We expect slightly better data than last month.
Until Friday, we can expect a little strengthening of the USD against other currencies. It would require a positive surprising release for the USD to strengthen against other currencies. This data will not likely change the actual bearish trend for the USD.
Key Levels:
-
Resistance 1.2300, 1.2400
-
Support 1.2150, 1.2070, 1.2000
Trend EUR/USD:
Bullish
The price tested 1.2300 resistance level. Last week, the price closed with a bearish correction, approaching important support levels.
Call to Action/Trade Idea
We will look for any opportunity to join the bullish trend. We might see a retracement to support levels. From there we will look for buying opportunities.
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