EURUSD stabilised at 1.12 ahead of ECB

10 April, 2019

On Tuesday the 9th of April, trading on the euro closed slightly down. On the back of Brexit rumours and the rising crosses, the EURUSD pair jumped to 1.1284 during the first half of the European session. Ahead of the ECB’s monetary policy meeting, the pair returned to the 1.1255 support.

The pair returned to the support and the balance line from which it has rebounded upwards. The pair is now trading at 1.1272. The ECB’s meeting and subsequent press conference with Mario Draghi are at the centre of attention today, along with the FOMC minutes and the EU summit, where officials will discuss moving the UK’s date of exit to the 30th of June.

The UK parliament has approved Theresa May’s plan to move the date of departure from the EU from the 12th of April to the 30th of June. Today, Theresa May will meet with the heads of state of Germany and France. Brexit is already factored in by markets, although individual headlines can still have short-term effects on day traders.

Now everyone is looking at the increased trade tensions between the EU and US. The US is planning to impose import tariffs on the EU to the tune of 11b USD, including on civilian aircraft and agricultural products. This is bad for the euro. I think that markets will start to factor in these trade tensions after Mario Draghi’s speech. On the daily timeframe, yesterday’s candlestick closed with a long tail; a bearish signal.


Source link   Presented by Alpari

EURUSD moving towards balance line

The EURUSD pair is currently trading at 1.1142. Since we got a false breakout of the channel's lower boundary, we expect the pair to inch upwards...

EURUSD: reversal expected

On Tuesday the 13th of August, trading on the EURUSD pair closed down. Volatility was high during the European and US sessions. Trading...

EURUSD: correction to the trend line

On Tuesday the 6th of August, trading on the euro closed slightly down. The stock market, along with the US dollar, was propped up by the strengthening...


EURUSD taking a breather at 1.12

On Monday the 5th of August, trading on the EURUSD pair closed up. The day's dominant theme was the ongoing trade dispute between the...

Bulls run out of steam at 90th degree

Trading on the safe haven currencies closed up last week, with everything else losing ground. The biggest loser against the US dollar was the pound...

EURUSD looking to revisit 1.1287 high

On Wednesday the 17th of July, trading on the euro closed up against the dollar, recovering about half of the losses incurred on Tuesday...


EURUSD: euro decline continues

On Monday the 15th of July, the euro declined against the dollar, with trading closing slightly lower than the Asian session's opening price...

Euro pressured by rampant Dollar

The Euro was trampled by the Dollar today as investors re-evaluated whether the Federal Reserve will cut interest rates in July...

A test of 1.1181 looks likely while at 1.1258

EUR/USD remains under pressure at the beginning of the week and is flirting with the 55-day SMA in the 1.1230 zone. In the meantime, another...

  


Share it on:   or