The euro marked successful session against the US dollar on Wednesday. The single currency broke the two-day negative series and recovered some of the losses. In the early trading hours today the EUR/USD surpassed the resistance at 1.0537 and the current market price is 1.0554. Next resistance is located at 1.0583 and in case of breaking it, we may expect test of 1.0600.
Fed’s minutes presented high uncertainty and set the US dollar under selling pressure. The EUR/USD pair hit highest level for the week at 1.0614. The trend remains bullish in the short-term with next target 1.0652.
The NFP data showed weaker than expected numbers and the EUR/USD pair immediately was seen uplifted. The pair marked high at 1.0622 but shortly afterwards retreated as focus was set on the increase on wages. The current market price is 1.0533.
Following the moderate momentum from yestreday, the EUR/USD pair marked a daily high at 1.0626 earlier today. The pair failed to hold on that line and moved lower to currently trade at 1.0565. Immediate support is located at 1.0550 and should the pair cross it, 1.0500-1.0450 will be the area, where the pair will settle in the near term.
The single currency marked a modest decline against the US dollar on Tuesday. The euro lost only 19 pips to close at 1.0553. The price continue to move over the moving averages, while RSI remain at neutral territory. If the bearish trend continues, we may expect testing the first support at 1.0550.
The US Presidential Elect Donald Trump’s press conference set the US dollar under pressure and trigggered sell-off. The EUR/USD pair is pushing higher and is aiming 1.07 level with technical indicators supporting the bullish tone.
This is interesting - the Trumps situation - in my opinion, Trump is the first so ragefully attacked president. I haven't seen eur/usd to move 300 pips for 24 hours FOR YEARS! May be the guy mixed up some plans...
The single currency marked a modest increase against the US dollar on Thursday. The price continues to move above the moving averages, while RSI remains on neutral territory. If the EUR/USD pair continue to push higher, the next target is the resistance located at 1.0815.
The mixed US data released today supported the US dollar for shortly. Anyway the EUR/USD pair is on track to close its fourth consecutive week with gains. While the pair is staying above 1.0600, the bias remains bullish.
During the European session the EUR/USD pair fell to 1.0578, mostly due to hard Brexit fears. Later on the pair returned back above 1.06 mark, as the single currency was well supported by Euro Zone’s trade figures.
During the early Asian session the EUR/USD escaped from the consolidative mode and rallied higher. The pair marked a daily at high at 1.0650 and the current market price is 1.0645. Today are expected German ZEW numbers, UK PM’s Brexit speech and US manufacturing index, which will bring significant impact on the pair.
The euro marked strong increase against the US dollar on Tuesday session. The EUR/USD pair reached intraday high at 1.0718 and the euro gained 115 pips. The resistance at 1.0682 was broken and the pair closed above this level. If the positive momentum continues, the next key level at 1.0742 will be tested soon.
The single currency marked decrease against the US dollar on Wednesday session and the EUR/USD pair closed lower at 1.0680. The upcoming ECB’s monetary policy meeting today is going to set the pair under pressure. Technically the pair remains bullish, but a surprisingly dovish tone by Draghi can push the pair to downside.
With the start of the 45th President of USA era the EUR/USD pair is seen uplifted and reached a six week high, climbing above the 1.07 handle. Looking at a weekly chart the technical indicators are recovering from oversold territory but yet are placed below the mid-lines. Expecting an upward correction around 1.08 level.
