$EURUSD Forex Signal: Stellar US Data Point to Higher Fed Hikes
Set a sell-stop at 1.0450 and a take-profit at 1.0350.The EUR/USD price retreated as concerns about the pace of Fed’s rate hikes continued. It pulled back to 1.0497, which was much lower than this month’s high of 1.0600. It remains substantially higher than November’s low of 0.9730.The EUR/USD price declined on Monday and Tuesday morning as investors reflected on a series of positive economic data from the United States.
The most important reading was on wages, which rose by 5.2% in November. Another important data published on Monday revealed that factory orders rose by 1.0% in October while the ISM non-manufacturing PMI rose from 54.4 in October to 56.5 in November. Economists were expecting the PMI to come in at 53.3.
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