EUR/USD retakes 1.2300 and beyond

13 February, 2018

EUR/USD retakes 1.2300 and beyond

Spot regained the 1.2300 handle. Broad-based USD-selling supporting the move. USD CPI, retail sales next of relevance. The European currency is extending its positive start of the week on Tuesday and is now lifting EUR/USD back above 1.2300 the figure.

EUR/USD up on risk-on rally

The generalized better mood around the risk-associated universe keeps weighing on the buck during the first half of the week, pushing spot further north of the 1.2300 limestone.

At the same time, the risk-rally is forcing the US Dollar Index (DXY) to break below the critical support at 90.00 the figure for the first time since February 2 despite some positive headlines from the US political scenario.

In the meantime, the pair appears to have carved a bottom in recent lows in the 1.2200 neighbourhood ahead of tomorrow’s key releases in the US docket: inflation figures tracked by the CPI and retail sales, both for the month of January.

EUR/USD levels to watch

At the moment, the pair is up 0.29% at 1.2328 and a breakout of 1.2351 (10-day sma) would target 1.2434 (high Feb.6) en route to 1.2524 (high Feb.1). On the flip side, the immediate support emerges at 1.2206 (low Feb.9) seconded by 1.2167 (50% Fibo of the 2014-2017 drop) and finally 1.2165 (low Jan.18).


Source link   Presented by HYCM

EUR constructive in the longer run

Following yesterday’s publication of the ECB minutes, Chief Analyst at Danske Bank Jakob Christensen expects the single currency to remain well...

Wave analysis for February 14, 2018

It is very likely that the development of a new ascending corrective wave of the ligament [X] (marked on the graph in green), which may take the form of...

EUR/USD drops to fresh 2-week lows

The EUR/USD pair quickly retreated around 60-65 pips from session tops and refreshed over 2-week lows in the last minute. The pair faded an early...


US Dollar in red, looks to retake 89.00

The US Dollar Index (DXY), which gauges the greenback vs. its main competitors, remains in the negative territory so far today although it has...

EUR well-supported by weak USD

A more protectionist and isolated US will always tend to be USD negative and Mnuchin's comments add to the weak USD policy the Trump...

Euro jitters appear after Spanish vote

The Euro jitters have appeared shortly before the new year if the Spanish polls are anything to go by, as the separatist movement in Catalonia...


The US dollar is stable

Last week, the US dollar strengthened against the basket of world currencies. On Friday, December 8, the US published an ambiguous report on the labor market...

EURUSD bouncing nicely, remain bullish

Price has touched our buying entry and bounced up nicely. We remain bullish above 1.1805 support (Fibonacci retracement, Fibonacci extension...

USD Languishes

USD continues to languish at 8-week lows against many of its peers, as the markets are concerned over possible delays to the US Tax Reform Plan. Senator John Cornyn, the Senate...

  


Share: