US Dollar Stablizies

The EUR/USD currency pair stalled short of our target yesterday as it rallied to 1.4240. We expect further consolidation this morning ahead of the US PPI and retail sales data to be released at 12:30 GMT. The consensus is looking for a rebound in retail sales which could bolster the US dollar even further.Our indicators are currently neutral with a slight negative bias. We’ll wait for the data release to look for trading opportunities. And the US retail sales data are one of the best times to use the strategy found in the Institutional FOREX System.