U.S. retail sales news gave
the EUR/USD the boost it
needed to break the 1.38
psychological level and make a
new all-time high, but the
weekly R3 pivot point held its
ground as resistance to limit
the upside move. Better than
expected consumer sentiment
news, and the anticipation of
some week-ending profit
taking, then re-sh
moreU.S. retail sales news gave
the EUR/USD the boost it
needed to break the 1.38
psychological level and make a
new all-time high, but the
weekly R3 pivot point held its
ground as resistance to limit
the upside move. Better than
expected consumer sentiment
news, and the anticipation of
some week-ending profit
taking, then re-shaped our
bias toward the downside. The
crossing of the 5 ema and 8
sma was the final signal we
needed to justify a short
trade entry.
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