EUR/USD : Hesitation and consolidation in expectation of the meeting Macron-Merkel

© Reuters. EUR-USD

The pair EUR/USD remains hesitant this Thursday on Forex, now the consolidation phase, which lasts from the beginning of the week.

The point on the most recent developments of EUR/USD

The economic calendar is lighter than the average these days is no help, in fact, not the Euro Dollar to find a clear direction, and the technical factors do not offer most accurate signals.

This morning, the Euro Dollar has touched the psychological threshold of 1.24 in the beginning of the european session, before its mind, in the face of a Dollar that finds a few reasons to go with the higher rate US.

EUR/USD has thus marked very recently a hollow on the 1.2355, down 45 pips from its peak daily.

Events potentially influential on the EUR/USD this Thursday

Today, it should be noted that the French President Emmanuel Macron will be meeting with the German Chancellor Angela Merkel to discuss economic reforms to be adopted in the Euro Area, which will be a potential source of returns influential for EUR/USD and other currency pairs on the Forex.

On the side of the statistics, two events in the US will be to monitor, with the index of the Philadelphia Fed and the entries weekly jobless claims US 14: 30. The index Philly Fed is expected to decrease to 20.8 points according to the consensus, after 22.3 points in the previous month. Entries weekly jobless claims are expected to fall to 230k, after 233k the previous week.

The current technical context

The study of the chart of the EUR/USD in the hourly data used to detect an upward trend line visible since the 9th of April, and that seems to have stopped the downward trend this morning. The increase, it should be noted that the area around 1.24 contains several resistors, while to the downside, first supports graphics fall to 1.2330 and 1.23.

Like this post? Please share to your friends:
Leave a Reply