The EURUSD will begin this week slightly above the uncomfortable lower price levels seen on Friday- Forex Trading
mirrored the broad market and saw the currency pair move lower in a rather steady manner as it made support levels look vulnerable. After reaching a high of nearly 1.09060 on Tuesday of last week and potentially igniting optimism that the EUR/USD would again challenge higher levels, the opposite occurred as the currency pair began to sell off in a rather progressive fashion.
Manufacturing and Services PMI numbers will come on Tuesday from the U.S. and Europe too. Global financial institutions remain nervous regarding economic outlooks because of stubborn inflation and recessionary fears. The U.S. will also publish Gross Domestic Product numbers this Thursday.is trading at one-month lows and the 1.08000 support level should be watched early this week.
The Fed may also take into consideration the result of U.S Banks' Stress Test results as they worry about the mid and small-size corporate banking sector.Traders who were looking for a strong reversal upward last week certainly were disappointed.
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