FOREX TECHNICAL & NEWS ANALYSIS:EUR/USD MAY NOT BE BULLISH AS MUCH AS EXPECTED

Finally, the industrial production data disappointed the investors. The EUR MoM industrial production come lower than expected but the EUR YoY industrial data came better than expected. EUR currently on oversold position, so the pair will not show any 50pips bullish trend. Small economic releases may make short term bullish trends.

The pair is waiting for the USD data releases, if the USD data are negative then the pair may show further bullish trend, otherwise the pair will show a strong bearish trend today.Remember the pair is oversold and at the highest rate over 29 months.I am observing the pair to go short.