Previous Close | 1.114 |
Open | 1.114 |
Bid | 1.114 |
Day's Range | 1.113 - 1.115 |
52 Week Range | 1.0882 - 1.1571 |
Ask | 1.114 |
Based on the early trade, the direction of the EUR/USD the rest of the session on Wednesday is likely to be determined by trader reaction to the short-term Fibonacci level at 1.1102 and the downtrending Gann angle at 1.1104.
The Euro has initially fallen during trading on Wednesday but turned around to show signs of life again as we continue to look towards the 1.11 handle above.
Even without interest-rate changes, the first meeting of the Christine Lagarde era will be closely watched for clues as to how it will differ from that of her predecessor, Mario Draghi, who never once lifted interest rates.
Invesing.com – The U.S. dollar was flat on Wednesday, shrugging off data showing stronger-than-expected inflation as traders awaited a Federal Reserve interest-rate decision later today.
French Prime Minister Edouard Philippe said the minimum retirement age will remain 62, but workers will have to work until 64 to get a full pension.
EUR/USD has erased a bulk of the losses that followed Friday’s jobs report and is closing in on December highs ahead of today’s Fed meeting.
In the race for Number 10, the massively awaited poll from YouGov predicts a majority Tory victory, although the race has tightened considerably.
Geopolitics and the FED will keep the markets busy today.
The Euro has rallied a bit during the trading session on Tuesday, reaching towards the 1.11 level. That’s an area that is more thought of as a “fair value” area than anything else right now.
Invesing.com – The U.S. dollar edged lower on Tuesday, as uncertainty over whether the U.S. would delay planned tariffs on imporrts from China continued to weigh on sentiment.
Based on the early price action and the current price at 1.1076, the direction of the EUR/USD the rest of the session on Tuesday is likely to be determined by trader reaction to the short-term 50% level at 1.1079.
The ZEW indicator of economic sentiment in Germany turned positive in December, rising to the highest level in 21 months. The ZEW registered a reading of 10.7 points, up from -2.1 in November. "This hope results from a higher than expected German foreign trade surplus in October, alongside relatively robust economic growth in the EU in the third quarter and a stable German labor market. The rather unfavorable figures for industrial production and incoming orders for October, however, show that the economy is still quite fragile," said ZEW President Professor Achim Wambach in a statement.
EUR/USD is catching a bid after testing a support confluence derived from a confluence of the 50 and 100-day moving averages.
Investing.com -- When it comes to the U.S.'s prospective 'phase-1' trade deal with China, substance is more important than timing, Commerce Secretary Wilbur Ross told Fox News on Tuesday.
We can expect economic data to take a back seat once more today as the market focus remains on geopolitics.
In Thursday’s elections, Boris Johnson has a decent shot at winning a workable majority in Parliament to pull the U.K. out of the European Union. This could be a turning point for Europe—rather than enabling consolidation of the continental bloc, Brexit will provide the contrast that blows it apart. The Conservative Party is running on a platform to push through a transition agreement to leave the European Customs Union and accomplish simple free trade.
The Euro rallied a bit during the trading session on Monday, showing signs of life at the 50 day EMA. At this point, the market remains relatively range bound, but likely to pull back a bit.
Invesing.com – The U.S. dollar fell on Monday amid uncertainty over whether the U.S. and China will be able finalize a partial trade deal and avoid a ramp-up in trade tensions before a deadline set for the end of this week.
Overcoming 1.1079 will indicate the buying is getting stronger. This could trigger a further rally into a price cluster at 1.1101, 1.1102 and 1.1109. The inability to overcome 1.1079 will signal the presence of sellers. This could trigger a break into the uptrending Gann angle at 1.1041.
EUR/USD is showing a small gain in early trading on Monday but Friday’s price action was firmly to the downside and this momentum might keep recoveries rallies short-lived.
With stats on the lighter side, we can expect geopolitics to be in focus. Trade and the UK General Election are likely to be the talking points…
Investing.com - The U.S. dollar and the euro were little changed on Monday in Asia as traders await central bank meetings due later this week.
It’s a big week ahead, with the ECB, the FED, trade, and the UK General Election in focus. Expect the stats to play second fiddle in the week.
The Euro has shown signs of exhaustion after initially rallying during the week but pulling back yet again. At this point, the 1.10 level is support.
The Euro fell during the trading session on Friday, as the US jobs number came out much stronger than anticipated. This sent money flowing towards the US dollar, so this point is very likely that the market should continue to favor the downtrend.