EUR/USD: The Euro maintains a positive profile, the point on the thresholds to monitor

EUR/USD maintains a positive profile – After the beginning of the week hesitant, the pair EUR/USD had posted a strong rise on Thursday and Friday last week, surpassing the key psychological level of 1.13 for the first time since march 26.

The Euro-Dollar had, however, ended the week below this key psychological level key, which would hover for a few doubts about the possibility to see the movement continue on the following week.

These doubts are reduced in part this morning while the EUR/USD pair has opened above 1.13 yesterday evening, and it remains above this threshold when the morning european is already well advanced.

Over the weekend, one could raise a few encouraging statements on the subject of trade discussions China-USA, but overall, it does not appear that a particular factor to either the origin of the good performance of the EUR/USD this morning.

The fundamental factors to watch this Monday

The news will not be much more busy for the rest of the day if one believes the economic calendar, since the only statistic that is likely to influence the exchanges will be the manufacturing index for the Fed of New-York (Empire State), expected at 14: 30.

Any progress on the Brexit will also be monitored, as well as any new remarks by the US president Donald Trump in respect of the trade with Europe, after the many threats of the last week.

Technical Point and thresholds to monitor

From a graphical point of view, the trend of the pair EUR/USD remains positive, and this will remain the case as long as the pair maintain the psychological threshold of 1.13. However, the area of resistance 1.1330, which has already blocked the rise last week, could prove to be difficult to overcome without a positive catalyst in the news.

Beyond that, 1.1360 and 1.14 will be the next two resistances to be taken into account.

In the case of a return under 1.13, the negative bias would be weaker, but a turnaround would only be valid in the case of a break below the former resistance of 1.1285. Lower, the next support is located at 1.1250, 1.12 and 1.1175, the lowest annual 2019.

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