EUR/USD – Week 3 – Heading below 1.20?

The Euro lost some momentum last week as U.S. industrial production increased strongly in December, providing some strength for the U.S. economy as consumer spending and employment gains slow. This might be the start of a complex correction that we’ve been expecting in the past couple of weeks for this particular pair and the price could drop below 1.20 levels. Keep an eye on Thursday’s ECB’s Interest and Deposit Rate decision as we might get some nice volatility prior and after the data release.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.

Trade closed: target reached