$EURUSD Forex Signal: Sell-Off Has Room to Run Before Rebounding
The main focus among investors is the ongoing budget ceiling issue in the United States. In a sign of hope, the head of the National Economic Council, Lael Brainard, said that talks between Democrats and Republicans were going on well. This is a signal that the two sides will reach a deal that will see the US avoid a default.
The other key data to watch will be the bloc’s industrial production and Spanish consumer confidence. At its peak, the pair was up by ~16.47% from the lowest level this year. It has now pulled back and moved slightly below the 50% Fibonacci Retracement level.
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