# EUR/USD Short-term Trend Play (June 27, 2013)

Source: https://www.tradersway.com/resources/market-info/eur-usd-short-term-trend-play-june-27-2013/
Language: en
Updated: 2013-06-27

There’s a potential short-term retracement on EUR/USD’s 1-hour time frame which could come into play today.



There’s a falling trend line connecting the pair’s recent highs while the 50% Fib is in line with a former support around the 1.3070 area.



A few medium-tier euro zone reports are on tap for today, the biggest of which is the German unemployment change report. After posting a 21K increase in joblessness for April, only a 7K rise is expected this time. A higher than expected figure would mean that the jobs sector is still unstable in euro zone’s largest economy, which could be bearish on the euro.



![EUR/USD Short-term Trend Play (June 27, 2013)]



As for the US, the core PCE price index and personal spending and income reports are due. The price index could show a small improvement in inflation while personal spending is expected to be up. If that’s the case, the dollar could draw support from good data.



A stop above the 1.3100 major psychological level would yield a good reward-to-risk when shorting this pair.



*By Kate Curtis from Trader’s Way*