Euro began tumbling as the big flurry of data to flash during US session.
As the euro has been falling Euro bears vested interest was on major US data release which is likely to be out shortly.
We project a 1.9% MoM gain in total retail sales, a 1.4% gain excluding autos, and a 0.5% increase in the "retail control" group. The Euro/USD bears are desperate for this data flash.
The high impact data are as under:
- US Retail sales
- US jobless claims
- Export price index MoM
- Import price index MoM
Overbought scene on stochastic (%D line 15.7670 & %K line 42.2091).
14 day RSI converging with upward price swings.
Buy one touch binary OTM calls for targets about 25-30 pips before retail sales data announcements.
