Flood Of Data Coming

The EUR/USD currency pair continues to trade sideways this week. Traders hope to get some traction today as the US releases a flood of data. The list includes CPI, initial jobless claims, real earnings, housing starts and building permits. We will all try to digest that data at 13:30 GMT. Intraday studies are reversing from oversold territory and we will try to go long.  We've been faked out earlier this week, so we will set the trigger at 1.2997. Negative surprises in the upcoming data can push the EUR/USD pair below 1.2900 again, but that would only present a scalping opportunity.