EUR/USD had a more moderate week, ending on lower ground. Will it continue falling or is it only a correction? A speech by Draghi and inflation figures are in the limelight. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.
Both the IFO and ZEW German business surveys disappointed and so did euro-zone PMIs. The forward-looking figures still point to growth though. In the US, the FOMC Meeting Minutes showed a relatively hawkish stance, boosting the US dollar and setting the tone for the week. The greenback’s recovery continued, but the moves somewhat cautious.
Updates:
EUR/USD daily chart with support and resistance lines on it. Click to enlarge:
