|Day's Range||1.122 - 1.122|
|52 Week Range||1.1110 - 1.1815|
It’s a big week ahead for the markets. Earnings, economic data, Iran, trade war chatter, and the ECB are all in focus.
The Euro continues to go back and forth overall for the week, as we are essentially in a 100 point range. This has been the case for two weeks now, as the market has no idea what to do next.
The Euro has fallen again during the trading session on Friday, as we continue to see significant resistance at the 1.13 handle. However, this is a market that also has significant support, so at this point in time I feel that we are simply floundering, looking for direction.
Based on the early price action and the intraday downside momentum, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the pivot at 1.1240.
Investing.com - The U.S. dollar was higher on Friday, even as expectations rose that the Federal Reserve will cut interest rates by half a point at the end of the month.
A speech from New York Fed President Williams yesterday has stirred expectations of aggressive easing and sent the dollar sharply lower.
Investing.com -- The U.S. dollar was consolidating at lower levels Friday morning in Europe and was on track to end the week roughly where it started, after a speech from New York Federal Reserve President John Williams revived hopes of a large interest rate cut at the Fed’s next policy meeting.
The Euro went back and forth during the trading session on Wednesday and followed the same path during the day on Thursday. Quite frankly, we just don’t have anywhere to be at this point, and therefore it’s probably a short-term scalping type of market.
Based on the early price action, the direction of the September U.S. Dollar Index the rest of the session is likely to be determined by trader reaction to the pivot at 96.740.
Based on the early price action and the current price at 1.1225, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the uptrending Gann angle at 1.1208.
Investing.com - The U.S. dollar was flat on Thursday after data showing that business activity in the Mid-Atlantic jumped to its strongest level in a year.
The euro felt pressure after Bloomberg Television reported that the staff of the European Central Bank was studying whether to revise its inflation target, which currently is below, but close to, 2% over the medium term. The euro was trading at $1.1207, vs $1.1230 before the report.
A cautious attitude is returning to investors. President Trump put pressure on stock markets, recalling the readiness to impose tariffs on Chinese goods worth up to 325 billion, which returned to market fears over the consequences of trade conflicts.
It was a mixed bag on the data front in Asia as Japan sees exports tumble. Corporate earnings also disappointed as trade war angst returns…
Today, Prime Minister Theresa May broadcasted a piece of advice to her successor. The drowning Fiber finally found a stoppage near 1.1200 level on Wednesday.
The Euro fell a bit initially during the trading session on Wednesday but then turned around to show signs of life again. Ultimately, this is a market that is trying to find support at a large, round, psychologically significant figure, as we continue to chop around.
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 long-term uptrending Gann angle at 1.1205.
Investing.com - The U.S. dollar dipped slightly on Wednesday but still remained near one-week highs after the International Monetary Fund said the greenback is overvalued.
EUR/USD is getting lifted from the psychological 1.1200 handle with aid of better than expected CPI data out of the Euro area.
Markets continue to receive conflicting signals, but a wary mood prevails. Charles Evans from the Fed pointed to the possibility of reducing the rate immediately by 50 points in July, citing the risks of a global slowdown
It’s a quiet day on the economic calendar, which will leave the Pound in the spotlight. Brexit woes continue to trouble the Pound, which is on the slide this morning…
Investing.com -- The British pound fell to its lowest in more than two years in early trading in Europe Wednesday as fears over a “Hard Brexit” and a possible general election exacted a higher risk premium for all sterling assets.
The RBA Meeting minutes revealed that the Bank would keep the doors open for further ease in the monetary policy by a quarter-point soon. The Euro pair and Cable suffered some huge pullbacks today.