EUR/USD - 1.0581

Euro's rally from June's 1-month bottom at 1.0360 to as high as 1.0605 last Wednesday, then to a 2-week high at 1.0614 in New York on broad-based USD's retreat suggests further choppy trading above May's 5-year trough at 1.0350 would continue, as long as 1.0555 holds, marginal gain would be seen and above 1.0614 would head to 1.0640/45 but 1.0661 should hold.

On the downside, only below 1.0515 would signal said recovery over and weakness towards 1.0484, then 1.0470 would be seen.

Data to be released on Tuesday

Germany Gfk consumer sentiment, France consumer confidence, Italy industrial sales.
U.S. goods trade balance, wholesale inventories, redbook, monthly home price, consumer confidence and Richmond Fed manufacturing.

Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.

Feed news Join Telegram

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD corrects below 1.0300 as DXY strengthens ahead of US Michigan CSI

EUR/USD corrects below 1.0300 as DXY strengthens ahead of US Michigan CSI

EUR/USD has tumbled to near 1.2850 amid a significant recovery in the DXY. A lower US CPI print has trimmed the odds of hawkish guidance while rate hike odds are solid. This week, the US Michigan CSI data will be of utmost importance.

EUR/USD News

GBP/USD: Bears could be about to make their moves

GBP/USD: Bears could be about to make their moves

GBP/USD bulls are tiring following the overnight rally that was sparked by a miss in US Consumer Price Index. There are complications for the bulls at this point as they run into weekly resistance and there is a reversion pattern left behind on the daily chart that followed Wednesday's rally.

GBP/USD News

Gold slips below $1,790 as DXY extends recovery, Michigan CSI eyed

Gold slips below $1,790 as DXY extends recovery, Michigan CSI eyed

Gold price has dropped to near $1,785.00 after surrendering the critical support of $1,788.00 in the Asian session. The precious metal has entered into a healthy correction phase after printing a fresh monthly high at $1,807.96 on Wednesday.

Gold News

Shiba Inu price edges close to a 60% breakout as bears watch in disbelief

Shiba Inu price edges close to a 60% breakout as bears watch in disbelief

Shiba Inu price has managed to stay above the POC at $0.0000118, indicating support from bulls. A continuation of this momentum could trigger a 60% rally to $0.0000200. A daily candlestick close below the $0.0000106 support level will invalidate the bullish thesis for SHIB.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Majors

Cryptocurrencies

Signatures