EUR/USD takes off on Trump's presser, breaks 1.0500
|Currently, EUR/USD is trading at 1.0499, down -0.59% on the day, having posted a daily high at 1.0568 and low at 1.0454.
The greenback is starting to come off and losing ground across the board as Trump introduces the headway that he is making leading into his inauguration just 9 days away.
Trump at a press conference started to announce a few number of business deals taking place in the United States, explaining there is a great spirit, and Trump will be the biggest jobs creator that god ever created.
Trump opened talking about how the auto industry will be expanding with Fiat, Ford and Chrysler who will be building new plants in the US while Ford are cancelling their contract to build a billion dollar plant in Mexico and instead build business onshore. Trump is now taking questions in respect to Russian ties/ potential hacks and fake news.
EUR/USD levels
With spot trading at 1.0497, we can see next resistance ahead at 1.0499 (Weekly Classic PP), 1.0503 (Daily Classic S2), 1.0519 (Hourly 200 SMA), 1.0521 (Daily 20 SMA) and 1.0532 (Hourly 20 EMA). Support below can be found at 1.0486 (Weekly Low), 1.0456 (Daily Classic S3), 1.0454 (Daily Low), 1.0403 (YTD Low) and 1.0390 (Monthly Low).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.