M/M Seasonally adjusted Retail sales grew 1.2% in November, the strongest showing in 8 months. Y/Y posted a decline of 0.9%, but still better than the -1.6% forecast.
5 Min Chart
EUR did not respond favorably, with EUR/USD continued heading lower after hitting 1.305 ceiling. Interim floor of 1.302 was also broken following the news, underlining the shift in tide as USD gained tremendous strength following a much Hawkish FOMC Minutes.
From a Daily Chart perspective, failure to hold levels above 1.33 is a concern for bulls, with price potentially forming 3 Black Crows candlestick pattern should current remain until today’s close. Yesterday’s bearish candle could also be interpreted as a confirmation for the Dark Cloud Cover 2 candles back, similar to GBP/USD
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