EUR/USD stabilizes amid Chinese concerns, US holiday

EUR/USD is trading in the mid-1.1300s, paring earlier gains amid some USD strength. China reported slower growth, as expected. The US, undergoing a government shutdown, is on holiday today.

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USD/JPY Analysis: Support at 109.30/109.10, resistance at 109.75/110.00 [Video]

AUD/USD Forex Signal

Valeria Bednarik

ECB monetary policy decision and Markit PMIs to take center stage this week

The EUR/USD pair aims to close the week to the downside but within familiar levels, hovering around the 1.1400 level, not far from a weekly low of 1.1366. The common currency took a dive after a German report showed that the country's growth was the slowest in 5 years in 2018, just 1.5% up.



Yohay Elam

EUR/USD is consolidating its losses from last week and trying to recover in the wake of the new week. However, it may hit bumps in the road sooner rather than later.

The Technical Confluences Indicator shows that the resistance awaits the pair at 1.1406 where we see the convergence of the Pivot Point one-day Resistance 1, the Simple Moving Average 100-1h, the Fibonacci 38.2% one-month, the Fibonacci 38.2% one-week, the Bollinger Band 1h-Upper, the SMA 200-4h, and more.

If it manages to climb above this level, the next cap is quite close. At 1.1441 we see the confluence of the Fibonacci 61.8% one-week, the SMA 100-4h, the BB one-day Middle, and the Fibonacci 23.6% one-month.

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