Daily analyzes of EURUSD - Dollar regains lost positions

6 ต.ค.

Among the important fundamentals from Monday is Factory Orders for the month of August in Germany from 8am GMT. It is very likely that we will see another contraction that will negatively affect the Euro. In general, the industry in Germany has started to shrink and there are no chances for growth.
The other important news is related to retail sales in the Eurozone at 11am GMT. Although we expect levels around zero or very little growth in retail sales.
Among the world events that affect the currency markets are the escalation of the conflict in the Middle East, where mainly the Euro may suffer due to disrupted supplies of both goods and fuels.
Overall, the Dollar will be in a stronger position this week and we at World-Signals.com expect the Dollar to strengthen against the Euro.
In the last week, the Dollar has taken about 200 pips on the Euro. In retrospect, the Dollar had 3 losing weeks, and only in the last one did it regain some of the lost positions.
Use the 1.1010 levels to open short positions with a 6-8 business day closing target.