Forex Strategy Video: Will the EURUSD and Euro Crosses Tumble Continue?
• The euro was the biggest mover Thursday by far with a uniform collapse among its crosses
• Establishing whether this is a mere correction or reversal requires an understanding of its drivers
Sign up for John’s email distribution list, here.
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.
Find help with your trades and trading strategy from DailyFX analysts with DailyFX on Demand.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.