The effect of U.S. Economy support and Dollar gains is about to end.
The Dollar already generated the news about the new stimulus for the U.S. Economy. The effect of the $1.9 trillions plan supports the Dollar wins and gains of about 330-380 pips against the Euro in the last 10-days.
EURUSD reached the lowest level of 1.1835 today that is the lowest level since November 23rd 2020. In the last couple of days the fundamental data did not take a mind in the trading so after the strong stimulus the investors may go back to the fundamentals.
One of the fundamental focuses is U.S. CPI (Consumer Price Index for February) expecting to raise to 0.4% from 0.3%.
Also the investors will focus on Europe and ECB Interest rates decisions and news about schedule for Thursday this week.
World-Signals.com trading strategy is to stop with short positions and turn into corrections up to 1.1960. If the downward movement continues we may see a tiny attack below the current lowest level of 1.1853 to level of 1.1805 and then correction up to expecting 1.1960.