|Day's range||1.1 - 1.102|
|52-week range||1.0882 - 1.1571|
Based on the early price action and the current price at 1.1009, the direction of the EUR/USD the rest of the session on Wednesday is likely to be determined by trader reaction to the support cluster at 1.0996 to 1.0994.
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EUR/USD dropped to levels not seen since the middle of October but was last seen bouncing higher from the psychological 1.10 level.
The RBNZ held rates steady, leading to a surge in the Kiwi, while the Greenback was under early pressure following Trump’s Tuesday speech…
The Euro initially tried to rally during the trading session on Tuesday but gave back the gains in order to show signs of weakness again. We are sitting at the 1.10 level, which of course is a large, round, psychologically significant figure, and attracts a lot of attention.
Based on the early price action and the current price at 1.1018, the direction of the EUR/USD the rest of the session on Tuesday is likely to be determined by trader reaction to the resistance cluster at 1.1029 and the downtrending Gann angle at 1.1016.
Investing.com - The U.S. dollar was slightly higher on Tuesday, but traders remained cautious as they waited for an update on a trade deal with China from U.S. President Donald Trump.
EUR/USD posted a small gain on Monday to end a five-day losing streak. The pair was firmly bid from a horizontal support level yesterday which looks to be once again holding the downside in today’s early day trading.
The Euro rallied a bit during the trading session on Monday, bouncing from the 1.10 level. At this point, the market is still very negative, and perhaps this bounce is a bit needed but ultimately, we are going to continue the longer-term downtrend.
Investing.com - The U.S. dollar was lower on Monday as investors remained cautious after U.S. President Donald Trump denied he would roll back tariffs on Chinese goods.
The US dollar is paring some of its recent gains to start the week as equity markets in Asia and Europe are coming off their recent highs.
The EUR/USD bears are fully in control at the moment. The bearish breakout below the support line (dotted green) is expected to make an extension towards the 78.6% Fibonacci retracement level of potential wave 2 (purple).
Based on Friday’s close at 1.1020, the direction of the EUR/USD on Monday is likely to be determined by trader reaction to the short-term 50% level at 1.1030.
It’s a big week for the markets. UK politics and trade are in focus on the geopolitical front, with the RBNZ also in action. Stats will also influence.
The Euro continues to fail at the first signs of trouble, as the European Central Bank has been extraordinarily accommodative with monetary policy and looking very much like they are going to continue to do the same.
The Euro tried to rally during the trading session, but then broke down below the 50 day EMA during trading on Friday. Ultimately, this is a market that has been negative for quite some time, and at this point it looks like more of the same is coming.
On Thursday, US markets updated their historic highs, while the European EuroStoxx50 traded near 2015 highs after reports of US and China readiness to phase down tariffs as they sign a trade agreement. These comments also lead to increased sales of the bonds and gold – traditional safe-havens for investors.
Based on the early price action, the direction of the EUR/USD the rest of the session on Friday is likely to be determined by trader reaction to the downtrending Gann angle at 1.1039 and the 50% level at 1.1029.
Investing.com - The U.S. dollar was higher on Friday as U.S. President Donald Trump confirmed that he plans to sign a trade deal with China, but had not yet decided if he would roll back tariffs.
EUR/USD is attempting to post a fifth consecutive day of losses and has fallen below an important support level to trigger a bearish technical pattern.