EUR/USD Daily Signals – September 12, 2017

Time for some correction

The pair is pressured towards the south with strong USD across the charts and had an exhaustion from last week’s gain. The price fell to the lowest since last Thursday and continues its path of being corrected. The price had dropped more than 100 pips this far. The pair is heading towards the lower trend line which may provide support and bounce off this area. Traders are looking for another opportunity to go long on EUR/USD. The pair is enjoying this up leg since the start of this year, but the strong Euro had begun to worry the European Banks and Mr. Draghi, but they could do little to halt the strength in Euro.

The week’s data has very little to offer with low and medium impact news and Euro will remain a technically corrected pair this week. On the U.S data front, the consumer prices and retail sales will drive the dollar based on the outcome.

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