EUR/USD was was initially pressured to the downside but then reached new highs in another volatile week. What’s next for the pair? Forward looking indicators stand out now. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.
Euro-zone GDP figures were mixed, with stronger than expected numbers from France and Italy but slower growth from Germany that eventually led to a small miss in the overall growth numbers. Draghi dragged the currency down once again by reiterating that QE will be fully implemented. But the pair has two sides and yet another disappointing retail sales report hit the dollar hard. Better than expected jobless claims and other figures only partially compensated.
Read the rest of the article EUR/USD Forecast May 18-22