|Day's range||1.132 - 1.14|
|52-week range||1.1223 - 1.2558|
Investing.com - The U.S. dollar slid lower against a currency basket on Tuesday while the pound found some support after a steep selloff in the previous session in the wake of a shock decision by British Prime Minister Theresa May to delay a key vote on Brexit.
Following Theresa May’s decision to delay the parliamentary vote scheduled for later today, Brexit and U.S – China trade chatter will be in focus.
The Euro continues to witness a lot of selling pressure above the 1.14 level and on Monday’s session, it pulled back significantly after reaching the 1.1450 level above. The GBP has broken the major support level at 1.27 level in the yesterday’s session, reaching down towards the 1.25 level. The AUD hovered just above its important support level at 0.72 level in the yesterday’s session as a lot of headlines crossing the market suggesting US and China struggle on inking any trade pacts.
EUR/USD is trapped in a symmetrical triangle as brexit woes and French protests hurt Euro’s upward price momentum.
Investing.com - The dollar rose against its rivals Tuesday, helped by a plunge in the pound to 21-month lows after UK Prime Minister Theresa May called off a vote on a Brexit deal expected Tuesday, raising further uncertainty about the country's exit from the European Union.
The Euro initially rallied during the trading session on Monday to kick off the week but continues to find resistance above the 1.14 level. Because of this, it looks like we are getting a bit exhausted yet again, and this tells me that we will probably continue to stay within the overall range.
Investing.com - The U.S. dollar was flat against a currency basket on Monday after drifting lower overnight amid worries about trade war tensions and the health of the global economy, while the pound was on the back foot ahead of this week’s Brexit vote.
Today is the 8th day up from the closing price reversal bottom at 1.1267 from November 28. This puts it in the window of time for a potentially bearish closing price reversal top. We’ve already had the higher-high, now all we need is a lower close to form the chart pattern.
The pair initially found resistance at the 1.14 level in the Friday’s session but after the weak US job numbers were posted later in that day, the pair started showing signs of strength and broke above the 1.14 level. By doing so, the market is now likely to reach towards the 1.15 level and move eventually higher. With the latest job figures, the Fed is likely to be more dovish which will support this pair going higher. …Read MoreGBP/USD
Broad based weakness surrounding US Greenback that carried over from last week’s close was further boosted by headlines from weekend resulting in Euro gaining upper hand as trading session began for the day.
A shift in sentiment towards FED monetary policy and trade war jitters pin back the Greenback as the markets prepare for the next Brexit saga.
Investing.com - This week investors will look to data on consumer prices and retail sales for the latest update on the health of the U.S. economy.
A busy week ahead will see Britain’s fate become all the more clear, with the ECB delivering on policy. On the risk front, U.S and China will be in focus.
The Euro rallied a bit during the week but remains in a relatively tight range. The 1.15 level above is massive resistance, and if we can break above there it could free the Euro to go much higher. However, we have a lot of issues when it comes to this pair.
The Euro rallied a bit during the trading session after the jobs figure but continues to find a lot of resistance above the 1.14 handle. Because of this, I don’t think much has changed in ultimately this market is still looking for some type of directionality.
Investing.com - The U.S. dollar was lower on Friday as the latest jobs report lowered the chances that the Federal Reserve will raise rates in 2019.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.08% to 96.68 as of 10:14 AM ET (15:14 GMT).Nonfarm payrolls rose by 155,000 in November, which was lower than expected but still consistent with a strengthening job market. The data puts less pressure on the Fed to raise rates. ...
The pair failed to rally higher during the Thursday’s session as the 1.1350 level is attracting a lot of attention and also providing support to the market. The market today will remain choppy because of the job figures ahead and if the numbers come out positive, then it could break the market lower towards the 1.13 level and much lower. …Read MoreGBP/USD
Based on the early price action, the direction of the EUR/USD today is likely to be determined by trader reaction to the 50% level at 1.1370. The EUR/USD has been trading inside a series of retracement levels for 11 sessions. This tends to indicate investor indecision and impending volatility. Because of this chart pattern, investors should look for volatility when the NFP report is released.
EURUSD trades range bound as investors remain cautious ahead of US NFP data which has potential to boost US Greenback that has been subdued so far this week.
Can U.S NFP and wage growth numbers come to the market’s rescue? Some will be hoping for soft numbers to dial back expectations of a December hike.
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Investing.com - The U.S. dollar was lower on Thursday as the arrest of a Huawei executive spooked investors and disappointing jobs data dampened sentiment.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.46% to 96.56 as of 10:35 AM ET (15:35 GMT).Meng Wanzhou, the chief financial officer at the Chinese smartphone company Huawei was arrested in Canada on an an extradition request by the U.S, which had been investigating whether or not she violated sanctions against Iran. ...
The Euro initially dipped during trading on Thursday but then turned around to rally slightly. However, I would not expect much as we get the jobs figures coming out Friday morning in the United States, and of course the market will be paying attention to that.
Based on the current price at 1.1353, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the short-term 50% level at 1.1345.