What would be more important for EUR/USD couple – a bunch of economic data from all over Eurozone like unemployment rate from Italy/budget from France/Eurozone inflation data or the greenback that is getting weaker and weaker as we go? What would be a primary choice for the direction of the couple? Well today is the day that we can answer a question – what is more important – dollar value or inner factors? And it seems that the greenback is more important in this equation that euro. How is that possible? Well it seems that traders have more faith in euro only when dollar is letting them down.
We see that the chart for EUR/USD is a perfect opposite for today’s USD chart. Here is the USD chart, by the way.
See the resemblance or for that matter lack of thereof. Of course! The assets are moving away from each other which can’t help but help us make the right decision for trading on all of our accounts.
And even though the situation and the answers seem pretty clearly cut out we still need to confirm our hunches with trading signals.
