JoeChampion

EURUSD:A potential retrace of an important weekly zone

Long
FX:EURUSD   Euro / Dollar Américain
Hey Traders, EURUSD is trading in an uptrend above an important weekly zone of 1.083 if we manage to get a pullback i will be watching a potential retrace of the weekly zone towards more highs. Fundamentally USD data continue to print soft which signals an upcoming cut of rate hikes from the fed and a weak dollar environment. i will be watching the next week CPI data to confirm so if it comes soft that would be a good indicator for a less restrictive monetary policy.
Trade safe, Joe.

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