|Day's Range||1.138 - 1.141|
|52 Week Range||1.1223 - 1.2558|
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 U.S. dollar tracks lower on Friday, following a cooler-than-expected jobs report and some dovish Fedspeak. Commodity-linked currencies strengthen after OPEC members and Russia agree to curb oil production.
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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The U.S. dollar weakened as risk appetite wanes during Thursday trading after the arrest of an executive of Chinese telecommunications firm Huawei Technologies, at the request of the U.S., sparks new worries about U.S.-China relations.
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.
With many of its supportive themes for the U.S. dollar dissipating as 2018 draws to a close, currency analysts are beginning to brace for a weaker buck in 2019.
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.
Investing.com - The safe haven yen was higher against the U.S. dollar on Thursday as the arrest of a leading Chinese executive in Canada threatened to escalate tensions between the U.S. and China, prompting investors to move out of riskier assets.
The pair hovered around the 1.1350 level mostly during the Wednesday’s session as the 1.14 level above continues to be massively resistive. The market is struck between the 1.13 and 1.15 range for quite some time now and rallies are proving to be a selling opportunity in the market. The market will continue to trade between this range until it breaks above the resistive 1.15 level with bullish momentum. …Read MoreGBP/USD
EURUSD locked inside short price range despite EU positive signs as risk appetite in financial market is down over bearish rout in global equity markets.
It’s a choppy start to the day and unlikely to get better, with a heavy set of stats out of the U.S, Brexit and Trade Chatter to drive the majors.
Major currencies retrace some of Tuesday’s action in early Wednesday trading, as investors digest President Donald Trump’s latest comments on China trade. Meanwhile, the Canadian dollar drops to a six-month low versus its U.S. rival, following the Bank of Canada policy update.
The Euro continues to go back and forth during the trading session on Wednesday, and what would have been a bit of a thin day in north America due to the observing of the death of President Bush. Ultimately, I think that we are close to fair value.
The European Commission published on Wednesday non-binding proposals to boost the role of the euro in international payments and its use as a reserve currency to challenge the dominance of the dollar. The European Commission called on companies and states to increase their use of the euro in energy contracts. It said it would study possible measures to promote the European Union currency in financial and commodity markets.
Based on the early price action and the current price at 1.1351, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the 50% level at 1.1345.