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  • EUR/USD Bulls Target $1.10 on China GDP and Euro Area Stats

    From fxempire.com

    It is a busy day ahead for the EUR/USD. ZEW Economic Sentiment figures for Germany and the Eurozone and euro area trade data will be in focus. The stats are EUR positive, with economists forecasting the euro area trade deficit to narrow from €30.6 billion to €11.9 billion. While a narrowing is EUR positive, the devil will be in the details. Trade terms with China, the US, and euro area member states will be focal points. However, we expect the ZEW economic sentiment figures to have more influence. Economists forecast the German ZEW Economic Sentiment Index to rise from 13.0 to 15.3 and the Eurozone ZEW Economic ... (full story)

"EUR/USD Bulls Target $1.10 on.........." Doesn't matter what they target.

What matters is where SM places their large sell orders. Maybe that high, but maybe not. Afterall, this is just a retrace move back upwards now that the Head & Shoulders pattern is in play (see H1 chart) since PA has already dropped thru the pattern Neckline.

Only the MMs know how high they intend to take it back up.........HTMRW.
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You like to use a lot of acronyms
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