In the last few weeks we’ve talk about a correction on the US dollar, we had a short corrective pharse but looks like that the dollar is ready to grow again agains all currencies. USD had a perfect week, and I’m expecting to see this movement also next week. The gold has declined this week, this is a bullish sign for the US dollar.
EUR/USD is trading below the support from 1.1052 and if will stay below this level then the outlooks is bearish on short term, the next dowside target is at 1.0848. The pair is back below the 61.8% retracement level and maybe will try to continue the long term downside movement but my feeling is that we’ll have an extended range.