Apparently, Yellen and her team still believe that the economy and the labor market are growing fast enough to warrant preemptive interest rate hikes. On the other hand, the ECB is still not budging from its easy monetary policies despite the strong inflation in the region.

Another consideration of mine is the CFTC COT reportwhich shows non-commercial traders have been long EUR for 7 straight weeks.

If you squeeze the chart a bit, you can see that the trend line was part of an ascending triangle pattern. As you can see on the daily chart, the bounce from 1.

EUR USD News - FXStreet

What do you think? Or should I wait for a bit more momentum before shorting the oil forex trading companies in singapore currency against the Greenback? This content is strictly for informational purposes only and does not constitute as investment advice.

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