British pound breakout soon?
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
EUR/USD ran into an obstacle
2019-11-11 • Updated
Trade idea
SELL 1.1327; TP1 1.1305; TP2 1.1275; SL 1.1340
EUR/USD ran into a bunch of resistance levels between 1.1375 and 1.1420. On D1, there are two pinbar candlesticks with long upper wicks. This is a sign that traders are actively selling the euro on its attempts to recover. There’s nothing overly surprising in that: the single currency awaits the ECB meeting on Thursday and dovish comments are expected from the regulator’s head Mario Draghi.
The pair closed this week's bullish gap very fast. The dip below 1.1330 will make it vulnerable for the decline to 1.1305 and 1.1275. The short-term resistance is located at 1.1350.
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