|Day's range||1.103 - 1.103|
|52-week range||1.0882 - 1.1514|
The Euro initially tried to rally during the trading session on Friday, but then gave back some of the gains yet again. Ultimately, this is a market that looks as if it is going to go looking towards the major figure underneath.
The Euro initially tried to rally during the week, but then broke down rather significantly. It looks as if we are trying to test the bottom of the recent consolidation.
Based on the early price action and the current price at 1.1039, the direction of the EUR/USD is likely to be determined by trader reaction to the Fibonacci level at 1.1045.
The U.S. has long criticized EU trade policies, such as its restriction on U.S. farm exports. With the U.S. and China signing a trade deal, Washington can now focus on the EU, and that could spell bad news for Brussels.
EUR/USD rallied in the early day after German and French PMI data pointed to growth. However, the pair struggles to hold gains as the rest of the euro area showed signs of weakness.
It’s a busy day ahead, with private sector PMIs for January to set the tone. Expect retail sales figures from Canada to also drive the Loonie.
Christine Lagarde, the new head of the European Central Bank, has announced a comprehensive review of ECB of its monetary policy. The review is scheduled to take one year, and Lagarde has said that she will be listening carefully as she attempts to modernize the ECB.
The Euro initially tried to rally during the trading session on Thursday but gave back the gains to break lower yet again. As the ECB keeps interest-rate at zero, they sound extraordinarily dovish.
Based on the early price action and the current price at 1.1090, the direction of the EUR/USD the rest of the session on Thursday is likely to be determined by trader reaction to the major 50% level at 1.1096.
The range in EUR/USD has been narrowing through the week but volatility is expected later today as the European Central bank meets to discuss monetary policy.
Caution reigned supreme today in markets as Wuhan went into shutdown and those that were unfortunate enough to have China risk to cover were forced to do so amid dwindling liquidity on both the Yuan and SHCOMP.
Employment figures give the Aussie a boost as the focus shifts to the ECB. Will Lagarde follow the BoC with a dovish outlook to sink the EUR?
Based on the early price action and the current price at 1.1085, the direction of the EUR/USD into the close on Wednesday is likely to be determined by trader reaction to a downtrending Gann angle at 1.1093 and an uptrending Gann angle at 1.1071.
The Euro went back and forth during the trading session on Wednesday, as we continue to hang around the 50 day EMA. This is a market that remains very choppy so there isn’t much to do here other than range trade.
During the trading session on Tuesday, we have seen the Euro rally significantly to break above the top of the hammer from the Monday candlestick. This was facilitated by a stronger than anticipated German ZEW.
IMF attributes ‘the lion’s share’ of downward revision to ‘more subdued growth forecast’ for India. Asia’s third-largest economy, is expected to grow by 5.8% in 2020, a 1.2 percentage point markdown from the organization’s October forecast.
EUR/USD is showing strong bearish price action after breaking below the support trend lines. Price action looks ready for a decisive breakout below 1.1090.
More stats due out of the UK could test the Pound further this afternoon. Earlier in the day, the BoJ held rates steady.
The Euro rallied a bit during the trading session on Monday but ran into a ton of trouble at the 1.11 handle, and then dropped. However, we have seen to try to recover since then as well.
Based on the early price action and the current price at 1.1085, the direction of the EUR/USD the rest of the session on Monday is likely to be determined by trader reaction to the main Fibonacci level at 1.1080.