|Day's Range||0.856 - 0.862|
|52 Week Range||0.7963 - 0.8950|
The Euro rallied significantly after initially reaching towards the 1.15 level during the week and find plenty of buying opportunities. The 1.15 level has been very important in the past, as it was resistance for a couple of years. The fact that we found support here is somewhat bullish, as it was necessary to keep the market afloat after the initial surge.
The Euro has had a very bullish session on Friday, breaking above the 1.16 level significantly, and it looks as if the market continues to trying to recover from the mass selloff that we have seen after the ECB suggested that it was at least a year away from hiking interest rates.
Investing.com – The U.S. dollar was on track to post a weekly loss against its rivals as mixed U.S. economic data weighed on sentiment and ongoing euro strength curbed upside momentum.
The euro remained higher on Friday, as the U.S. dollar fell and trade concerns lingered. EUR/USD rose 0.26% to 1.1633 as of 11:24 AM ET (15:24 GMT) after French and German business activity in June came in higher than expected, easing concerns of a slowdown in the eurozone. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.19% to 94.36.
The pair shot higher during the yesterday’s session after reaching its major support level at 1.15 level. The British Pound shot higher during the yesterday’s session breaking above the 1.32 level and then continued towards the 1.3250 level. If it breaks above the 1.33 level, then it will be a very big development and could send the British Pound much higher.
Investing.com - The euro was steady on Friday, as the U.S. dollar fell amid trade war concerns.French and German business activity in June came in higher than expected, easing concerns of a slowdown in the eurozone.EUR/USD rose 0.57% to 1.1669 as of 5:18 AM ET (9:18 GMT) while the pound was higher, with GBP/USD rising 0.52% to 1.3308.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.42% to 94.14.Tensions between the U.S. ...
Based on the early price action, the direction of the EUR/USD on Friday will be determined by trader reaction to the downtrending Gann angle at 1.1611.
The Euro rallied significantly during the trading session on Thursday after initially dipping towards the 1.15 handle. That’s an area that has been important more than once, and it is a major level on the longer-term charts. Because of this, a bit of a relief rally is not much of a surprise.
The Philly Fed report said business activity fell from 34.4 in May to 19.9 in June, its lowest since November 2016. The index’s sharpest drop since January 2014.
Investing.com – The U.S. dollar gave up its early gains against its rivals following weaker Philadelphia Fed data and a rebound in sterling after the Bank of England's hawkish pivot.
Investing.com - The dollar eased after hitting the highest levels of the year on Thursday following the release of soft U.S. manufacturing data, while the pound was higher after the Bank of England laid the groundwork for an August rate hike.
Investing.com - The dollar rose to the highest levels of the year against a currency basket on Thursday, while the pound fell to seven month lows ahead of the conclusion of the Bank of England policy meeting later in the day.
Investing.com - The dollar rose to near eleven month highs against a currency basket on Thursday, supported by expectations for a faster pace of rate hikes this year, while the pound was at the lows of the year ahead of the Bank of England meeting later in the day.
The pair traded on a choppy note during the Wednesday’s session initially tried to move higher but pulled back. The market seems to be trying to form a base around the 1.1550 level using the strong support level at 1.15 level.
The EUR/USD went into a whipsaw mode yesterday after a comment from ECB member Nowotny, who was a bit dovish about the EUR strength vs Dollar. The EUR/USD quickly dropped, testing the lower range boundaries then spiked up again. We can see that this range has been holding the pair for a full week. At this point, the EUR/USD could drop from 1.1540-60 towards 1.1520 and 1.1510. Below 1.1510 we might see 1.1470 and 1.1436. However, if the pair get above 1.1645, it should provide bulls with new strength so next targets should be 1.1690 and 1.1780.
Traders looking to get bullish on the British pound ahead of Thursday’s Bank of England meeting might want to try taking the dollar out of the equation, analysts said. Sterling (GBPUSD) hovered around a 7-month low versus the dollar ahead of the central bank meeting, thanks in part to a nearly relentless rally by the U.S. currency that began back in April. To get around that, traders looking for a more hawkish tone from the Bank of England might look to the euro-sterling (EURGBP) pair, which is also seen as a more accurate Brexit risk barometer, analysts said.
Based on the early trade, the direction of the EUR/USD on Thursday is likely to be determined by trader reaction to this week’s low at 1.1531. Essentially, 1.1531 has to hold or the EUR/USD could start to collapse.
The Euro has been relatively choppy during early trading on Wednesday, as the market seems to be trying to form some type of basing pattern near the 1.1550 level. Below there, significant bids have been found near the 1.15 handle as it is structurally and psychologically important to the longer-term attitude of the market.
Investing.com – The U.S. dollar was roughly unchanged against its rivals Wednesday as softer U.S. economic data and a rebound in sterling kept a lid on upside momentum.
Investing.com - The pound was trading close to seven month lows on Wednesday as Prime Minister Theresa May’s government faced another crunch vote on Brexit.
Investing.com - The dollar edged higher against a currency basket on Wednesday in subdued trade amid a lull in an escalating trade dispute between the U.S. and China.
Yahoo Finance’s Seana Smith and Jared Blikre on the biggest stories moving the markets in midday trading Wednesday.