|Day's Range||1.118 - 1.119|
|52 Week Range||1.1110 - 1.1842|
The Euro pair seesawed throughout the day. Greenback rivals benefitted out of its fall. Crude Oil plummeted around 6% today, allowing the Loonie to continue the upward movement.
The Euro got hammered during the trading session on Thursday as more fear enter the marketplace. At this point, it’s obvious that the market is hanging on by a thread at any given moment when it comes to risk appetite.
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 Gann angle at 1.1136. The main bottom at 1.1109 is very important because the next major support is way down at 1.0300. Crossing to the weak side of the downtrending Gann angle at 1.1104 will put the EUR/USD in a bearish position.
Data on Thursday showed that the labor market is gaining strength, even as the economy slows. Initial claims for unemployment benefits fell for the third-straight week to a seasonally adjusted 211,000, the Labor Department said.
EUR/USD is seen attempting to break to a fresh monthly low in early European trading on Wednesday. Will the pair confirm a break today or bounce higher from support?
Based on the early price action, the direction of the June U.S. Dollar Index on Thursday is likely to be determined by trader reaction to yesterday’s close at 97.881. Better-than-expected data could spike the Euro higher and the U.S. Dollar Index lower. The index could make a new high for the year if the data comes in weaker than expected.
The Euro pair remains under due pressure from all major fronts viz the EU Elections, Brexit and robust growing Greenback. Traders look north ahead of German May Markit PMI.
MPs might reject May’s new improvised deal for the fourth consecutive time. Oil prices dropped over huge crude stockpiles as per EIA report. Trump eye on more Chinese Survellience firms.
The Euro went back and forth yet again during the trading session on Wednesday, as we are hanging about the 1.1150 range. There is a larger consolidation area that we are involved in, so at this point we need to pay attention to a couple of levels.
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 uptrending Gann angle at 1.1157.
Sterling slumped on Wednesday after reports that U.K. Prime Minister Theresa May could resign as soon as today amid Brexit chaos caused a sell-off of the pound. The U.S. is looking at similar restrictions on other companies, including Chinese video surveillance company Hikvision, according to Bloomberg and the New York Times.
The Euro pair bows down in the Asian trading session, lingering near 1.1153 low levels. Positivity developed around May’s “new improvised deal” was short-lived. Investors eye FOMC minutes.
UK Inflation and European politics to whipsaw the Pound ahead of the FED monetary policy meeting minutes later today.
Investing.com - The U.S. dollar was hovering near one-month highs against a currency basket on Wednesday, supported by higher U.S. Treasury yields after the U.S. temporarily eased restrictions on Chinese telecommunications giant Huawei.
Crude Oil WTI Futures continued to climb the ladder amid OPEC-led supply cut fears. PM May stated that she will give MPs last chance to back her “new improvised deal”. EUR/USD pair uplifted on USD plunge.
The Euro fell slightly during the trading session on Tuesday, as we continue to simply meander around the 1.1150 level. This is essentially “fair value” in the consolidation area, so I’m not necessarily interested in trading quite yet but I do have levels that I am paying attention to.
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 an uptrending Gann angle at 1.1155.
Based on the early price action and the current price at 97.900, the direction of the June U.S. Dollar Index the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at 97.950.
Economic Calendar stays lighter amid lack of EUR-specific events. Meanwhile, Greenback traders staying bullish over the upcoming US Housing Data.
May is definitely an interesting month on the market. It is hard to generally say if this is a month of a USD, or safe heavens or for example Bitcoin.