The EUR/USD continues to move forward
The pair EUR/USD has managed to continue its rise yesterday, increasing the movement started last Friday, with a summit at 1.1357 at the end of the afternoon. This morning, the trend remains positive, the pair always moves close to its recent peaks.
A movement of generalized decline of the Dollar, without any particular link with the news, is at the origin of this rebound of the EUR/USD, who, remember, had marked a new low annual Friday at 1.1234.
This morning, the consumer price index to the production in germany of the month of January, well above expectations, has provided additional support to the Euro, but it will now wait for tonight 20h for the next catalyst, with the Minutes of the Fed.
This publication shall constitute, together with the european PMI indexes of tomorrow, the most important event in the economic calendar this week, and could influence market expectations as regards the number of rate increases to which it is to be expected this year, the opinions differ between the dot-plot of the Fed, analysts ‘ expectations, and indicate that the money markets.
The negotiations China-USA will also remain a central theme is likely to influence trade on the Euro-Dollar this Wednesday, the discussion around the Brexit.
From a graphical point of view, the pair EUR/USD has been evolving since yesterday evening in a range 1.1330-1.1355. Under 1.1330, the next supports to watch are at 1.1300-05, where are currently moving averages 100 and 200 hours, and then on 1.1275 (low of yesterday), 1.1234 (hollow 2019) and 1.1214 (hollow 2018).
In the event of a rise above 1.1355, the next important support to watch will be on the psychological threshold of 1.14.
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