|Day's Range||1.103 - 1.103|
|52 Week Range||1.0882 - 1.1620|
The Euro has done a lot of back-and-forth trading during the session on Monday, as traders are trying to figure out what to do next after the US/China trade talks produce so little. Essentially, we are right where we started.
Based on the early price action and the current price at 1.1023, the direction of the EUR/USD the rest of the session on Monday is likely to be determined by trader reaction to the Fibonacci level at 1.1022.
Investing.com -- The dollar was slightly higher and the British pound stumbled at the start of the week, on lingering doubts about the outlook for the world economy as the market takes a closer look at the much-hyped breakthroughs on the U.S.-China trade dispute and on Brexit.
The Dollar found strong support early, as the markets considered the implications on existing tariffs on the economic outlook. Brexit chatter also weighed.
It is a big week ahead, with corporate earnings, trade talks, Brexit and economic data in focus. There’s also the IFM meetings and the EU Summit.
The Euro rallied significantly during the week, as we have seen the lot of positive headlines come out involving the Brexit. Ultimately, this is a market that is going to be influenced by a lot of external factors, and of course the occasional rumor/headline.
The Euro has rallied significantly during the trading session on Friday, breaking above the 50 day EMA before finding sellers again. Ultimately, the market is going to continue to be very choppy but it looks as if a bit of hope entering the Brexit situation could send money back into the Euro.
Based on the earlier price action and the current price at 1.1055, the direction of the EUR/USD the rest of the session on Friday is likely to be determined by trader reaction to a downtrending Gann angle at 1.1060 and an uptrending Gann angle at 1.1039.
On Monday, my MarketWatch colleague Barbara Kollmeyer reported that noted investor Jim Rogers, chairman of Rogers Holdings, declared in an interview that despite “horrible” fundamentals, he’s buying the U.S. dollar anyway. “Nobody in his right mind would buy the U.S. dollar (XX:BUXX) but I own a lot…because I’m not in my right mind,” said Rogers, who turns 77 this month and has been bearish on the dollar since at least 2004. This is the same Rogers who told an interviewer in 2008: “I’m trying to get all of my money out of U.S. dollars.
Investing.com - The pound jumped to an intraday high on Friday after U.K. Prime Minister Boris Johnson said he thought there was a way forward for a Brexit deal with the European Union, adding that “there is work to be done.”
EUR/USD made a sharp push higher yesterday to trade above the 1.10 level for the first time in two weeks. The pair has lost a bit of upside momentum but continues to trade above the psychological 1.10 handle.
As US-China trade negotiators are about to order the last call at the Last Chance Saloon, the fog of trade war is beginning to lift giving way to an air of trade optimism sweeping through global capital markets.
The Euro has rallied quite significantly during the trading session on Thursday, breaking the back of several shooting stars from earlier in the week. That is a very significant sign, but at this point it’s very likely that the market still has a lot of weight upon itself. At this point, it does look likely that we could continue to see a lot of choppiness more than anything else.
The Dollar index (DXY) fell by about 0.38 percent before paring back losses, as the 98.4 support level kicked in.
Based on the early price action and the current price at 1.1026, the direction of the EUR/USD the rest of the session on Thursday is likely to be determined by trader reaction to the price cluster at 1.1019 to 1.1022.
Investing.com - The U.S. dollar fell on Thursday after consumer prices rose less than expected in September, increasing the chances of the Federal Reserve cutting rates before the end of the year.
EUR/USD was boosted by a weaker dollar in early trading on Thursday, resulting in a bullish break above a notable resistance confluence.
While economic data will bring the EUR, GBP, and USD into focus, a resumption of U.S – China trade talks is the main event of the day.
The Dollar index (DXY) continues to pare losses seen earlier this month, as investors await the minutes from the September FOMC meeting as well as the September CPI reading.
The EUR/USD pair has rallied again during the trading session on Wednesday, as the 1.10 level continues offer significant resistance. There is also a downtrend line that should be paid attention to as well, so there are couple of different reasons to think that this market may fail.
A no-deal Brexit could weaken the U.K. stock market by 15% and send the pound plunging a further 10% against the U.S. dollar, index provider MSCI has warned.
Based on the early price action and the current price at 1.0975, the direction of the EUR/USD the rest of the session on Wednesday is likely to be determined by trader reaction to uptrending Gann angle at 1.0939 and the uptrending Gann angle at 1.0999.
Investing.com - The U.S. dollar was weak despite reports that China is open to a partial trade deal despite the U.S. blacklisting Chinese firms earlier in the week, as traders await the Federal Reserve latest meeting minutes for clues on the direction of interest rates.
EUR/USD fell under pressure in North American trading on Tuesday as investors brushed off weak US data. However, the pair has regained some momentum in the early day and has wiped most of yesterday’s loss.