EUR/USD: Outlook for the week ahead
The EUR crosses remain quite heavy overall, with EUR/JPY definitely turning bearish and EUR/GBP also losing its bullish momentum, and this sentiment is making it hard for the EUR/USD to make any significant bounces. More losses look possible from a technical perspective, but remember that this pair has been entrenched in range-trading mode so the market is lacking confidence and therefore we will see nasty dips and spikes against the short-term trend. Overall, I prefer the sell-rally strategy here but we could be trading 1.24/1.30 for the rest of the year.
The German ZEW survey and industrial production data, as well as EU CPI and the FinMin meeting will be the main risk events during European trading sessions.