Morning review.
Monday was expected to be a sluggish trading day. On the other hand, trends remain strong which shows growth of other currencies against the dollar, as well as to the growth of the US market. Moreover, a lot of things happened and it is possible for a strong correction. Furthermore, a number of important releases are scheduled on Wednesday and Friday which includes news from the Fed, US durable good orders and US GDP for the 2nd quarter.
Logically, if markets can secure the consolidation during the afternoon, then it is possible to continue moving on the trends. Either way, the unexpected strong data from the Fed or the US economy will cause a strong correction.
Today at 17.00 London time, the US consumer sentiment index is predicted to decline from 118.9 to 117.0 which is opposed to the dollar.
EURUSD
It is more relevant to bet on growth like on purchases for breakdown at 1.1685 above. Alternatively, it appeared to be riskier but it's possible to sell for a breakthrough at 1.1625 down.
