The EUR/USD traded slightly lower on on Monday, but this fact should be connected with any kind of returning dollar strength, as we had a bank holiday in the US yesterday. The markets seem to be dominated by Brexit fears. Support is set at 1.0600, resistance at 1.0800.
EUR/USD seems to be consolidating before taking another attempt to move higher. No signs of returning dollar strength may be seen and doubts if it would come back anytime soon get stronger in some parts of the market. Support is seen at 1.0600, resistance at 1.0800 as we enter the third week of January.
The EUR/USD pair managed to break out of its last range which was holding it back, as the dollar continued to weaken for a second day in a row. The mentioned weakness was caused by the conference of Donald Trump, which upset the markets as no detailed information on future policies were given. We have a new strong resistance at 1.0870, which is a December high and the support has moved to 1.0600.
As expected, yesterday’s news of the day was the conference of Donald Trump. The dollar tried to rally before the media meeting, but failed to hold as the President-elect hasn’t revealed any specific information on future U.S. policies. Dollar bulls had to step off, and the euro regained strength among good economic data from the EU. Support and resistance stay on the same levels, respectively 1.0500 and 1.0700.
The last 24 hours were challenging for short-term traders.The EUR/USD tried to rally, touching the 1.0626 level, but reversed it gains after U.S. JOLTS report showed a rise in jobs openings. The 1.0700 level still offers a signifficant resistane, with support at 1.0500.
The EUR/USD pair had a bullish day yesterday with some signs of euro strength. Hawkish comments from Fed members couldn’t help the U.S. dollar and we are back near the highs from last week. The pair managed to break above the 1.0500 level which should once again set as a solid support. Resistance is seen at 1.0700.
The EUR/USD pair fell on Friday, testing the 1.0500 level again. The move was caused by the release of jobs data which came out mixed, but still good enough to bolster the U.S. dollar, which seems to be regaining strength at this point in time. The support is seen at 1.0420, resistance at 1.0700 as the pair consolidates.
The EUR/USD pair rallied on Thursday, breaking above the 1.0500 level. The euro seems to be strong at this moment, as it touched 1.0615 yesterday, but sellers could return to the market after the unemployment data from the U.S. Support is seen at 1.0420, while resistance is set at 1.0700.
As we expected, traders reacted to FOMC minutes, which surprised the markets by coming out less hawkish as expected. The dollar got hit badly and the pair managed to break above the 1.0500 level. Stronger than expected European PMI readings helped buoy the pair. It seems that the dollar strength has vanished and the pair has gained ground. Resistance is seen at 1.0650, while support is near the 10-day moving average at 1.0460.
Volatility and liquidity returned to the markets after the holidays and that was clearly seen on the EUR/USD pair, which fell quite significantly on Tuesday at first, but managed to rebound during the U.S. session. The drop, which came despite better than expected German jobs, generated new lows at 1.034, near the support at 1.0300. Resistance is seen around the 10-day moving average at 1.0460.