© Dukascopy Bank SA
Community members were strongly bearish on the pair as 60% of all positions were long. That goes in line with the previous week's forecasts of 66% of all participants which were bearish on the pair. The consensus forecast suggests that the couple will end this trading week at 1.113, up from the last week's close at 1.089. "Jignesh" who mostly uses technical analysis in his trading thinks that the EUR/USD to be sold off on the back of USD strength after a strong NFP number last week. Also, he expects rallies to be sold throughout the week as the USD is once again trending positive. "past" believes the pair is going to reach resistance at 1.145 and stay there till the end of next week.
Speaking about the fundamental data, market participants can pay attention to Germany's data on industrial production, on Monday while the next day the Euro zone is going to announce revised data on first quarter economic growth. Among American news, reports on initial jobless claims and retail sales are expected to be published on Thursday. Moreover, US is to round up the week with data on producer price inflation and consumer sentiment.
© Dukascopy Bank SA