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Forex Strategy Video: Will the EURUSD and Euro Crosses Tumble Continue?

Forex Strategy Video: Will the EURUSD and Euro Crosses Tumble Continue?

John Kicklighter, Chief Strategist

Talking Points:

• The euro was the biggest mover Thursday by far with a uniform collapse among its crosses

EURUSD dropped more than 1 percent - highly unusual - but EURCAD presented the most remarkable slide

• Establishing whether this is a mere correction or reversal requires an understanding of its drivers

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EURUSD plunged 1.1 percent this past session - a move that some euro-based majors outpaced. This aggressive move sticks out like a sore thumb when we look at the general trend of the Euro these past months. That leaves us to determine whether this is a temporary correction or a general shift in trend. That answer must come from fundamentals as much as technicals. The spark this past session was a record unemployment rate and collapse in Eurozone inflation. That revives an overlooked fear for the euro: a renewed stimulus drive from the ECB. Will this concern extend the euro's reversal or will it dry up quickly? We discuss this currency and its key fundamental theme in today's Forex Strategy Video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.