Trading volatility: EUR/USD around EU data on Tuesday
While many will be pinning hopes on all the US data in the coming week for some trading volatility, IGTV’s Jeremy Naylor picks Tuesday’s EU data as a potential trading highlight.
There’s preliminary GDP in Germany and the eurozone, German retail sales and jobs and French CPI. On the assumption the data will be the polar opposite of US, there’s a potential short trade on EUR/USD.
(AI Video Summary)
Weaker European data against stronger US data
Jeremy Naylor focuses on his predictions for volatility in the EUR/USD trade during the week starting 29 April. He highlights key economic indicators due for release, including inflation and GDP data from France, Germany, and the eurozone, as well as German job and retail figures. He contrasts weaker European data with stronger US figures, like the recent PCE data, suggesting a potential strengthening of the US dollar.
Potential volatility in the EUR/USD pair
The conversation includes technical analysis with specific attention to support and resistance levels in the EUR/USD exchange rate, proposing a trading strategy favoring a short position with a target at the 106 level, based on expected economic data outcomes affecting currency strength.
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