EUR/USD sinks to session lows

5 June, 2017

The single currency is now losing the grip vs. the buck, sending EUR/USD to test the area of daily lows in the 1.1240/30.

EUR/USD attention to US data, EUR/GBP

Spot met extra downside pressure following the deep pullback in EUR/GBP, as the Sterling found fresh buyers in response to latest ICM election polls, showing Tories stay on the lead by 11 pts, widening the gap vs. previous polls.

In addition, the better tone in the greenback at the beginning of the week is also collaborating with the pair’s downside, sustained at the same time by the positive performance in US money markets.

On another direction, EUR stays well underpinned by the speculative community, with net longs continued to climb in the week on May 30 according to the latest CFTC report, this time to levels last seen in late December 2011.

EUR/USD levels to watch

At the moment, the pair is down 0.34% at 1.1242 facing the next support at 1.1202 (low Jun.1) followed by 1.1122 (20-day sma) and finally 1.1108 (low May 30). On the other hand, a breakout of 1.1284 (2017 high Jun.5) would target1.1300 (high Nov.9 2016) en route to 1.1367 (high Aug.18 2016).

Source link  
Gold bounces off lows

Renewed trade-war fears push USD higher and prompt some fresh selling. Reviving safe-haven demand lends some support and helps limit downside. Fed...

GBP futures downside looks limited

In light of advanced data for GBP futures markets from CME Group, investors scaled back their open interest positions by almost 1.8K contracts on Thursday from...

Gold clocks 10-day highs near $1263

Technical correction extends above $ 1260 amid broad-based USD weakness. Lingering US-Sino trade tensions support, as the focus shifts to the US CPI...

Dollar holds below mid-94.00s

Lingering trade war fears keep the USD bulls on the defensive. Thin liquidity conditions also hold traders from placing aggressive bets. This week's important...

Dollar clings to daily gains above 95.00

The greenback, in terms of the US Dollar Index (DXY), is sticking to the positive territory so far today and so far manages well to keep the trade above 95.00...

US Dollar rebounds beyond 94.80

The greenback bounces off lows, approaches 94.90. Yields of the US 10-year note remain sidelined so far. NAHB index came in below expectations in June...

WTI downside opening up to $69.50

Looks vulnerable amid OPEC, non-OPEC output lift talks, stronger USD adds to the weight. Technical set up also indicate further downside risks...

Gold climbs back closer to weekly tops

Dovish FOMC minutes prompt some USD profit-taking and help regain positive traction. Sliding US bond yields/cautious mood provides an additional boost...

Gold eases from 1-month tops

Gold surrendered early modest gains to fresh 1-month tops and is currently placed near session lows, touched in the past hour. Easing fears of a full-blown...

In the past 24 hours Bitcoin has lost -0.62% and reached $6314.29067999. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 0.2294% and is now at $1.166. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 19.26% and is now at $206.708629668. Have the most popular cryptocurrencies compared online 24/7.

Top Brokers offering Forex Market Analysis

Forex Currencies Forecasts

Top 10 Forex Brokers 2018

# Broker Review
6FIBO GroupFIBO Group84%