|Day's range||1.108 - 1.111|
|52-week range||1.0882 - 1.1514|
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.
Monday is a day off in the American markets due to the Martin Luther King’s Day. Because of the holiday, trading on other markets also promises to be muted.
Investing.com - The U.S. dollar was largely flat in European trading Monday, with the U.S. holiday providing little incentive for traders to take risks. That said, the greenback still looks strong against its main competitors.
The PBoC left LPRs steady this morning, with some time likely needed to asses the impact of recent cuts and the phase 1 agreement.
The Euro tried to rally during the week but ran into a lot of trouble at the 50 week EMA. At this point, the market looks very likely to continue to drift a little bit lower, as we are in the middle of a larger range.
Based on the early price action, the direction of the EUR/USD the rest of the session on Friday is likely to be determined by trader reaction to the 50% level at 1.1110.
EUR/USD was dragged lower by yesterday’s US retail sales report and is holding near lows, threatening a break of support.
The Euro rallied a bit during the trading session on Thursday but giveback quite a bit of the gains to show a sluggish reluctance to break towards the top of the overall range.
Investing.com - The U.S. dollar is largely unchanged in European trade early Thursday, as a degree of calm prevails following the signing of the Sino-U.S. trade deal.
Based on the early price action and the current price at 1.1159, the direction of the EUR/USD into the close is likely to be determined by trader reaction to the 50% level at 1.1162.
The Euro rallied a bit during the trading session on Wednesday, breaking above the 200 day EMA, which of course is a bullish sign. I have been talking about these moving averages for some time, and now it looks like we are trying to make a move.
Invesing.com – The U.S. dollar fell Wednesday on data showing inflation remained muted, while the conclusion of the U.S.-China phase one trade deal had a muted impact on the greenback.