Weak US Data Means Weaker Euro? The Story Of The Week!

Weak U.S. data means strong USD, at least that's how the market interpret economic data lately. Negative Retail Sales did not move a penny for the dollar. Core CPI came in as expected at 1.7% and it's been declining since who knows when. Alright, it's Technicals versus Fundamentals. DXY is poised to break above the downtrend line after having been tested for the 5th time (Will post it later on). So let's cut to the chart, ABCD.. Euro going down no matter what! Cheers!

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Support held strongly.