EUR/USD Forecast August 8-12

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EUR/USD was trading in a more volatile manner, climbing above range, but this did not hold, and eventually the pair fell. It certainly enjoyed a wider trading range. German GDP stands out this week. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD. German factory orders disappointed with a drop, casting worries about the strength of the largest economy in the euro-zone. PMIs were more or less in line with projections. In the US, data was quite mixed, with PMIs slightly missing expectations, until the NFP came. The US gained 255K jobs, and other components of the report were also positive. ... (Read the full story)