EUR/USD: European participants could counter Asian movement
On Monday the euro/dollar closed down. After a fall in the rate to 1.0579, the pair switched into a correctional phase. Market participant activeness and trading volumes during the American session were low due to it being Martin Luther King Day in the US. The price spent nine hours at 1.0600.
EUR/USD trades on Friday closed up. Due to a revival of the euro/pound cross, the buyers managed to raise the rate to 1.0673. After the publication of American stats the rate crumbled to 1.0596, covering the day’s growth. By trade close the price had bounced from the session minimum, but during Asian trading it returned back to it.
On Thursday the euro closed slightly up against the USD. The dollar was under pressure in the first half of the day, but was able to win back a large part of its losses in the second. The USD managed to head into the plus zone against the GBP after news about a planned announcement from UK PM May set for next Tuesday. She is set to speak about Brexit and this news caused a pound sell off throughout the market yesterday. Due to this, the euro/dollar traded for a few hours at around 1.0660, from where it fell to 1.0611 by the end of the day after the growth of the euro/pound ended.
EUR/USD: Possible update of the maximum before a downward correction
On Wednesday the euro closed the day up against the dollar, despite the serious fall in the first half of the day. The euro rose 170 points after Trump’s press conference. During the Q and A session with journalists, relations with Russia and the country’s influence on the outcome of the elections dominated. Trump said nothing about his future plans for the economy. What he did say had a positive effect of state bonds, but a fall in their yield had already negatively affected the USD.
On Tuesday the euro/dollar closed down. The weakening of the euro against the dollar was caused by a correctional phase for the euro/pound. The euro pound fell 98 points to 0.8665. The price corrected by 38.2% upwards from 0.8517 to 0.8763. The euro rate fell from a maximum of 1.0627 to 1.0556 (-71 points) against the dollar. In Asia the pair’s fall hastened to 1.0536.
On Monday the euro/dollar closed up. The price revived from a 1.0511 minimum to 1.0583. The yield for US bonds had a negative effect on the rate, as did the correctional movement after Friday’s strengthening on the back of the NFP (Friday against Monday). It’s also worth noting that there was a growth in the euro/pound cross which offered support to the euro bulls over the course of the trading day. The pound suffered due to concerns about a hard Brexit.
On Thursday euro trading closed up. After a correctional movement to 1.0483, the euro rose to 1.0615 against the USD. The dollar was under pressure after the release of employment data for the private sector and a sharp fall in the yield of American bonds.
The year of the rooster has begun with a fall for the euro against USD and GBP. Over the course of two days the euro/dollar fell 185 points. After the publication of positive US data, the price fell to 1.0341, from which a new phase of revival began. In 34 hours the pair rose 200 points to 1.0540.
On Thursday the euro/dollar closed up. Trader activeness on the Forex market remains low. Trading robots are doing the work for them. If yesterday the price fluctuations for the euro were less than one figure, then today we’ve already seen the euro rise 166 points against the dollar (to 1.0653) and 115 points against the pound (to 0.8664).