Today’s weakness of the dollar can not only be seen in the rise of the precious metals which we have discussed earlier in the day, but in the recovery of the dollar’s peers as well. Through the day we have seen ups and downs, but for now a recovery for euro alike. Although it is more evident in the former at the moment.
Euro bounced just fine after having hit the lowest point in three weeks. Some even say that the currency is now on the verge of a breakout, which would be appropriate, given that USD might just step back a little bit more. But, we are now thinking that EUR/USD couple only depends on the greenback alone. But what about euro itself? Well, European currency is going to have a tough day tomorrow as among all of the other important things we are going to see European Economic Forecast tomorrow. Boy, will that be a spectacle. Economic forecast for the region that is about to lose one of its most important members. That is not something that is going to go by lightly for the currency.
So, if you want to trade USD in a relatively calm manner, then right now is the time for you. Plus, trading signals are going to help you navigate any kind of situation.