|Day's Range||1.222 - 1.228|
|52 Week Range||1.0497 - 1.2321|
The pair has been locked in a range between the 1.22 and 1.23 regions over the last couple of weeks as we enter into the second half of the month
The EUR/USD pair rallied significantly during the week, but gave back some of the gains, to form a candle that looks almost like a shooting star. I believe that sends this market looking for lower pricing, but that should only offer more bullish pressure in the end.
After hitting a three-year high against the dollar, the strong euro is likely to preoccupy global markets and European Central Bank policymakers in particular in the coming week. The ECB, whose Governing Council meets on Thursday, last expressed concern over the single currency in September, when it said exchange rate volatility was an uncertainty that required "monitoring". Then the euro had only briefly nudged beyond $1.20.
Based on the early price action, the direction of the EUR/USD the rest of the day is likely to be determined by trader reaction to the steep uptrending Gann angle at 1.2235.
The EUR/USD pair rallied significantly during the trading session on Thursday, reaching towards the 1.2250 region. I expect that the 1.23 level will continue to offer resistance, and it looks as if we are starting to roll over again.
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 50% level at 1.2166.
The EUR/USD pair initially tried to rally, but then pulled back to reach towards the 1.22 handle. This is an area that looks likely to be supportive going forward, as we have seen a lot of bullish momentum to the upside, so I think short-term, we could be looking at a bounce.
Based on the early price action and the downside momentum, the tone of the market today is likely to be determined by trader reaction to yesterday’s close at 1.2260.
VIENNA (Reuters) - The euro's recent strength against the U.S. dollar is 'not helpful', European Central Bank policymaker Ewald Nowotny said on Wednesday when asked about the currency's recent gains. Speaking ...
The EUR/USD pair dropped a bit during the trading session on Tuesday, as the Americans came back from the Martin Luther King Jr. holiday. The 1.22 level is offering a short-term support, but if we break down below there, I think will go looking towards even more significant support. In other words, the buyers seem to be in control longer term.
The European Central Bank is unlikely to ditch a pledge to keep buying bonds at next week's meeting as rate setters need more time to assess the outlook for the economy and the euro, three sources close to the matter said. The ECB signalled last week a growing appetite for revising its policy message in "early" 2018, and specifically a promise to continue its 2.55 trillion euro money-printing programme until inflation heads back to target. This has led investors to bring forward to December 2018 their expectations for the first ECB interest rate hike since 2011 and fuelled a rise in the euro (EUR=) to a three-year high against the U.S. dollar.
The European Central Bank must keep an eye on the euro exchange rate because of the downward pressure it puts on inflation, ECB governing council member Francois Villeroy de Galhau said in an interview published on Tuesday. Villeroy told German newspaper Boersen Zeitung that ECB remained confident that euro zone inflation was moving towards its target of close to two percent even though underlying inflation has held steady for three months at 0.9 percent.
Based on the early price action, the direction of the EUR/USD today will be determined by trader reaction to 1.2296 and 1.2187.
As I explained yesterday during my Live Trading Session Recap webinar, the EURUSD was due for a retracement. And it happened exactly as planned. The pair dropped to the POC zone and we could see some profit taking now. At this point 1.2210-2220 is the zone which could spike the price up but the break below 1.2190 could target 1.2155 POC2 zone. There is a lot of confluence there and 1.2145-55 could be good for new buyers and fresh longs. If the pair gets to 1.2295 look for a continuation up towards 1.2325 and 1.2365.
The EUR/USD pair has rallied a bit during the trading session on Monday, showing signs of strength yet again. This is a strong “anti-US dollar bias” that we are seeing in the Forex markets, and I think this continues to benefit this pair.
The trade surplus in the 19 countries sharing the euro expanded in November to its highest point in eight months, as a rise in exports of goods outpaced increasing imports, despite a stronger euro, official estimates released on Monday showed. The European statistics office Eurostat said the euro zone's surplus in goods trade rose in unadjusted terms to 26.3 billion euros in November, up from 18.9 billions in October. The November trade expansion, which coincided with a new rise of the euro against the dollar, brought the bloc's surplus to its highest monthly level since March when it stood at 28.7 billion euros.
Sarah Hewin of Standard Chartered Bank says there is pressure on the ECB's Mario Draghi from hawks who want a tighter policy stance.
Peter Kinsella, senior FX and rates strategist at the Commonwealth Bank of Australia, speaks about potential moves in major currencies this year.
Macquarie's Gareth Berry says euro is set to benefit from Europe's economic recovery even though the ECB's plan to tighten policy is still tentative.