The big picture: There is a downtrend signal for the EUR/USD pair.
Orders for durable goods in the USA came out unexpectedly strong at +2.7%.
This caused a new drop in the euro against the dollar.
Technically, the euro is ready for a big fall after a six-month treading in the range of 1.1200-1.1500 up to 1.0600 and even lower. The zero rate policy of the ECB adds pessimism against the euro.
We keep selling from 1.1223.
The first reading of US GDP for Q1 will be released on Friday at 13:30 London time (GMT+1). In case of strong data, the euro will continue to fall.
