EURUSD - BEARISH BIAS

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MARKET OUTLOOK
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EURO - Weak Bearish
1️⃣ A comment from European Central Bank policymaker Panetta says that it may be too early to discuss a reduction in emergency bond purchases.

USD - Strong Bullish
1️⃣ Fed vice chief Randal Quarles signals the FED’s central bank plans to open talks on easing the U.S. bond -buying program
2️⃣ New jobless claims in the US fell more than expected.
3️⃣ Index Personal Spending (PCE) for April is forecast to rise due to the increase of wages in April.
4️⃣ The latest U.S. budget plan could result in stronger spending as well as faster growth.

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TECHNICAL
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- We're shorting this pair on SMA50 area + SBR level + pivot point level on H1 chart.

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RISK TO THIS TRADE
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- This trade will hit stop loss if U.S PCE data print lower.