EUR/USD pair trimmed some of its early gains and has now retreated around 20-25 pips from the vicinity of the 1.1800 levels.
A sharper-than-expected retracement in German ZEW economic sentiment index, coming in at 17.4 for Dec'19 as compared to previous month's 18.7, was further seen weighing on EUR/USD today.
Focus is on the highly-anticipated FOMC decision, which along with the ECB announcement on Thu'17, would help investors determine the pair's next leg of directional move.
My personal view is that the events will lend temporary strength to the USD before the EUR turns bullish and return to the 1.2 levels before the end of 2017.
A sharper-than-expected retracement in German ZEW economic sentiment index, coming in at 17.4 for Dec'19 as compared to previous month's 18.7, was further seen weighing on EUR/USD today.
Focus is on the highly-anticipated FOMC decision, which along with the ECB announcement on Thu'17, would help investors determine the pair's next leg of directional move.
My personal view is that the events will lend temporary strength to the USD before the EUR turns bullish and return to the 1.2 levels before the end of 2017.
