FOREX TECHNICAL & NEWS ANALYSIS:IS EUR/USD SUITABLE TO GO SHORT

Investors looking for a suitable price level to go short on EUR/USD. The pair showed strong bullish trend, after the ECB Conference statement in March. The pair is now at the highest level of  2 year. The pair is waiting for the USD Retail Sales, Import Price Index (MoM), and Initial Jobless Claims data.

The pair is expected to be bearish, if the USD economic data come better than expected. Better than expected data may lead the pair to decline 100pips today.