EUR/USD: The wait-and-see dominates before several major events from tomorrow




After an attempt to rise yesterday evening and this morning, finally it is the indecision which prevails this Monday on the EUR/USD pair, which has passed no significant threshold, or upward, or downward.

The EUR/USD has marked a peak daily to 1.1820 at the beginning of the european session, but failed to hold above the psychological level of 1.18, without to accelerate to the downside.

The traders have indeed many reasons to show sitters, with a quiet day from the point of view of the news this Monday, which presents an economic calendar empty.

From tomorrow, the situation will be any different, with the summit between Kim Jon and Donald Trump. Wednesday is the Fed meeting, traders will be watching, ahead of the ECB Thursday.

In other words, the market expects to learn more about these upcoming events to pick a clear direction in the short term on the EUR/USD pair.

From a graphical point of view, the context remains bullish, with moving averages 100 and 200 hours (at 1.1770 and 1.1725 currently), well oriented, and an upward trend line visible since the 1st of June, and currently located at 1.1750.

Under 1.1725, the profile uptrend would start to be called into question, with potential targets downside to 1.1710, 1.1680 and 1.1650. The increase, a resistance of the short-term to 1.1810, before the highs of last week at 1.1840, and then the psychological level of 1.19.

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