EUR/USD peaked today at 1.1789 following the positive momentum after FOMC minutes and the jitters around Trump ‘s advisors , but this seems was not enough for the pair to hold around this level.
The single currency recorded a decline against the US dollar on Thursday. The currency pair lost 44 pips at a closing price of 1.1722. Daytime extreme values were reached at 1.1789 and 1.1662 respectively. The couple continues its move in range. Breaking its lower limit at 1.1700 will contribute to negative expectations.
The euro rose against the US dollar on Friday. By the close of US trading, EUR / USD was trading at 1.1761, gaining 0.32%. I believe that support is now at around 1.1661, Thursday's low, and resistance is likely at 1.1840, Monday's high.
In the Friday session, the single currency returned 40 pips to the US dollar. The currency pair opened the session at 1.1722 and at the end of the day one euro was exchanged for 1.1762 US dollars. Daytime extreme values were reached at 1.1707 and 1.1773 respectively. The couple continues to move in range.
The EUR/USD pair moved higher today and marked a weekly high at 1.1827 backed up by the weak US dollar and the lack of important fundamental news. Bulls are aiming higher in the short term. Immediate resistance is seen at 1.1845 and in case of breaking it, next target is seen at 1.1880.
A positive data on the ZEW survey today may support the euro bulls and send the EUR/USD pair back above 1.18. In case of disapointing results, the price will continue to correct lower around 1.1750 area.
On the first day of the week, the euro-dollar currency pair rose by 59 pips. The day was opened at 1.1755, and the first hours were strong for the bears. That's why at noon they recorded their bottom level at 1.1730. The response of the bulls led us to the peak of a near figure above the bottom, or 1.1827. At the end of the day one euro was exchanged for $ 1.1814.
The German ZEW servey today showed that the business sentiment has dropped beyond the expectations, which influenced the EUR/USD pair and it fell down to 1.1744. The short term outlook is neutral according to the technical readings on the four-hour time frame.
On Tuesday, the single currency lost 53 pips against the US dollar. The day was dominated by the bearish players, because once the day was opened at 1.1814, the bulls recorded a peak at only 9 pips higher. For bears, the best level they achieved during the session was 1.1744. At the end of the day one euro was selling for 1.1761 dollars.
EUR/USD is hovering around the 1.18 handle today amid the light macro calendar. Tomorrow’s speeches of Mario Draghi and Janet Yellen will set more clear direction for the pair.
EUR/USD extended the rally on post-Yellen gains and jumped to a fresh 20-month high at 1.1912 after Draghi’s speech. Now the major resistance at 1.20 is a great challenge for euro bulls.
After having crazy two days, the EUR/USD is going to calm down today and awating for the next catalyst. Today the macro agenta is not offering much, but Friday we have the NFP from USA.
EUR/USD is facing first supprot at 1.1814, followed by 1.1710 and 1.1662. Looking to the upside, a break above 1.1905 would enforce bulls towards 1.2069 and higher at 1.2167.
Last week the EUR/USD pair did an amazing rally and hit a two year high at 1.2070, but afterwards sharply dropped to 1.19. The greenback sank on Friday after Bloomberg dropped headline that the ECB will probably delay tapering QE beyond September, which is responsible for the rally and thus the expectations of the market participants were poured with cold water.
The key support area for next week is locatd at the 1.1790/1.1820 area, while first resistance is seen at 1.1920, next at 1.1960 and higher at 1.2030.70 region.
It seems that the week ahead will be very intersting amid the political turmoil today from North Korea and Trump’s response on twitter. From Europe we have ECB monetary policy meeting. Anyway my favourites will be the Swiss Franc and Gold.
During the last two days the bulls calmed down and the EUR/USD pair is seen in conslidation around 1.1890 level. All eyes on ECB today with no positive expecations for the single currency.
The start of Draghi’s press conference skyrocketed the EUR/USD pair to a new fresh high at 1.2059. However later the pair retreated and the current market price is 1.2003. Upside remains capped by 1.2040 while dowside is limitted by 1.1980.
