Euro / U.S. DollarShort
EURUSD weaker on the working USD bid
The RBA in Australia left rates alone with inflation at 6% making for the only major central bank in the news in the overnight session for today in the US. There is a lot of manufacturing numbers across Europe [French, Italian, Spanish & German] and most of this activity is not moving the currency much of support. The Fib measure from last Thursday's push higher into 1.1150 to the low on Friday, tagged the 50% retracement as shown on the chart and continues toward the 1.0895 profit target. Staying short this forex pair with a stop now just below breakeven should make for a manageable trade idea.
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