EUR/USD: Weekly Forecast 13th August - 16th August

The drive higher didn’t last long, however, and the reversal lower grew stronger. The 1.10000 level again became a battlefield and later on Thursday the EUR/USD was not able to sustain momentum above this ratio. On Friday there were a few attempted moves upwards and the 1.10000 mark was challenged, but values could not be sustained and the selling which intensified, began to test important support levels as the weekend approached.Economic data from the E.

Traders who believe the EUR/USD has been oversold may be proven correct eventually, but jumping in front of the current bearish path could be expensive and dangerous. The EUR/USD is trading in a healthy manner and is certainly correlating to the broad Forex market as risk-adverse trading has heightened on rating agency downgrades of U.S Treasuries and some mid and small-size banks the past two weeks. U.S. inflation numbers were mixed last week, and it is likely the U.S.

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