EUR/USD: The pair is unaware of the escalation of the trade war China-USA


EUR/USD in a range very close despite the tweets Trump

Investing.com – The least we can say is that the recent coup de théâtre in the trade negotiations China-USA leaves the EUR/USD of marble.

The stock markets have indeed shown a very strong reaction to the downside in the face of tweets vindictive Donald Trump, but the Euro and the Dollar seem to be on their side to wait and see.

The Euro did not react to the few european statistics better than expected published on the morning of the PMI services final, retail sales).

After an opening gap downward, the EUR/USD pair has evolved without trend in a range close throughout the day, between a base at 1.1180, and a resistance to 1.12.

This range is reinforced by the moving averages 100 and 200 hours, 1.1179 and 1.1197.

It is also useful to highlight the importance of short-term resistance area of 1.12, which in addition to being a psychological threshold and to accommodate the moving average 100 hours corresponds to the retracement of 50% of the downward movement observed over the last week.

A breakout confirmed above this threshold would therefore be a bullish signal to be credible, and in this case, the resistances of 1.1225, 1.1260 and 1.13 will be the first potential objective.

Downward 1.1180 is the first bracket, before the hollow last night to 1.1170, then 1.1150, 1.1135 and 1.11.

Finally, it should be noted that the day of tomorrow will be a bit more responsible than that of today from the point of view of the economic calendar, with the commands to industry and industrial production, German in the morning at 8am, and with the report JOLTS on the job offers US to 16h.

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