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EUR/USD Slight Correction

July 3, 2007 (Last updated on November 30, 2009) by

Today EUR/USD retreated from its yesterday levels of 1.3630 down to 1.3600 level (with a failed try ground below 1.3600). Factory orders macroeconomic data for May came out better than expected but it still showed a decrease in this important indicator — manufacturers orders decreased by 0.5% (against 1.2% expected). But this data didn’t affect Forex at all — the major bearish bars were seen four hours before it came out. It looks like EUR/USD will remain bound in 1.3600 — 1.3650 range for some time.

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