Could we see a bigger correction?
Bullish rally of dxy may persist due to robust indicators of the U.S. economy, contrasted with a weaker Eurozone economy. Additionally, the possibility of Republican candidate Donald Trump winning the upcoming U.S. presidential election is further supporting the dollar.
However, the mixed macroeconomic data releases from the US limit the US Dollar's strength, while the strong inflation readings from Germany support the Euro, helping the pair push higher.
EUR/USD rises sharply as the US Dollar falls after US ADP Employment and Q3 GDP data.
The Eurozone economy grew faster-than-expected and the German economy returns to growth.
Meanwhile, the 200-day EMA near 1.0900, and the psychological figure of 1.1000 emerge as key resistances.
In addition, Trump’s victory in the US presidential election could have an adverse impact on the Eurozone growth in the longer term.
However, the mixed macroeconomic data releases from the US limit the US Dollar's strength, while the strong inflation readings from Germany support the Euro, helping the pair push higher.
EUR/USD rises sharply as the US Dollar falls after US ADP Employment and Q3 GDP data.
The Eurozone economy grew faster-than-expected and the German economy returns to growth.
Meanwhile, the 200-day EMA near 1.0900, and the psychological figure of 1.1000 emerge as key resistances.
In addition, Trump’s victory in the US presidential election could have an adverse impact on the Eurozone growth in the longer term.
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