|Day's Range||1.134 - 1.135|
|52 Week Range||1.1186 - 1.2478|
The ongoing Brexit saga has global implications. Yahoo Finance’s Adam Shapiro and Julie Hyman join EU Parliament Member representing the West of Ireland Marian Harkin and Manulife Managing Director & Chief Economist Megan Greene to discuss what's next for Brexit.
The U.S. dollar adds to the previous week’s losses on Monday, trading weaker against many of its rivals as traders look ahead to a Federal Reserve policy meeting later this week.
Dubiousness Arise Over May’s winning in the third Meaningful vote; USDJPY settles neutral; Commodity-linked-CAD surge later the day
The Euro rallied significantly to kick off the week, breaking above a couple of long wicks on the daily chart from last week. This of course is a good sign, and it looks as if we are going to continue to the next resistance level.
Investing.com – The U.S dollar was flat against its rivals Monday as a wobble in sterling helped offset losses and data showing the U.S. housing market continued to stutter.
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at 1.1360.
The Euro initially rallied during Friday’s session but witnessed strong resistance at the 1.3333 level and pulled back a bit. As ECB not considering on any rate hikes for at least a year or even longer, the pair will continue to experience pressure on every rally. Given this case, the market will continue to consolidate and if the pair get a massive break down, then 1.12 level underneath will offer strong support. …Read MoreGBP/USD
EURO trades positive owing to two-year spread between US-German bond yield hitting lowest since April 2018 while weak USD ahead of FOMC update adds strength to EURO’s rally.
It’s risk-on through the early part of the day, which sees the Dollar on the defensive once more, A light economic calendar put the FOMC in focus.
Investing.com - As investors continue to wait for a breakthrough in U.S.- China trade talks they will get an update on Federal Reserve rate hike projections this week and the central bank could also announce plans to end the wind-down of its balance sheet.
The U.S. dollar weakens slightly across the board in Friday trading, reversing Thursday’s move higher that had snapped a four-day losing streak and heading for a loss on the week.
GBP remains silent ahead of the Third Meaningful Vote in the next week; Better than expected US Consumer Sentiment Index; AUD & NZD rebounds losses
The Euro rallied significantly during the week, reaching above the 1.13 level above. By doing so, the market has shown a proclivity to stay within the overall range that we have been in.
Investing.com – The U.S. dollar fell against its rivals Friday and was set to post a weekly loss after anemic U.S data added to concerns of an economic slowdown.
Based on the early price action, the direction of the EUR/USD is likely to be determined by trader reaction to the uptrending Gann angle at 1.1297.
Euro zone inflation edged higher as expected in February, the European Union's statistics office confirmed on Friday, mainly because of more expensive services, food, alcohol an tobacco. Eurostat confirmed its earlier estimates that consumer prices in the 19 countries sharing the euro rose 0.3 percent month-on-month for a 1.5 percent year-on-year gain, accelerating from 1.4 percent year-on-year in January. The European Central Bank wants to keep inflation below, but close to 2 percent over the medium term, but inflation has been well below that target since 2013.
The Euro rolled over during Thursday’s session, soon after reaching towards the 50 Day EMA slope, as it offered plenty of resistance. Given ECB’s loose attitude towards monetary policy and slow down in growth, the pair is expected to find extreme difficulty breaking above. There is a lot of resistance upside built near the 1.14 and 1.15 level with strong support placed near the 1.12 level. …Read MoreGBP/USD
Increased risk appetite underpins EURO bulls on positive momentum ahead of Euro area macro data update.
Optimism on trade and the Brexit delay supported risk appetite early on. Economic data out of the U.S will need to be good to reverse early losses.
The pair is witnessing strong buying at the lower levels, which helped it break above the 1.13 level in Wednesday’s session, reversing much of the bearish sentiment. If the pair breaks above the 50 Day EMA, which is currently offering a bit of resistance, then it can reach much higher.
The Euro rolled over at the 50 day EMA to kick off the Thursday session, as we continue to see plenty of resistance, but we are within a major consolidation area.
Based on the earlier price action, the direction of the EUR/USD on Thursday is being controlled by the Fibonacci level at 1.1327. Taking out 1.1298 could trigger a further decline into the uptrending Gann angle at 1.1277.