Intra-Day News and Views and data to be released today - EUR/USD

AceTrader Team AceTrader

Intra-Day Market Moving News and Views

Update Time: 17 Jan 2020 04:30GMT

EUR/USD - 1.1137... Although the single currency retreated from 1.1157 at Asian open to 1.1145 ahead of European open yesterday, price then gained to an 8-day high at 1.1172 ahead of New York open due partly to buying in eur/jpy cross. However, the pair met renewed selling there and tumbled to an intra-day low of 1.1129 in New York due to upbeat U.S. data before rebounding to 1.1142 in Asian morning today on short-covering.

Despite euro's resumption of recent upmove from last Friday's 2-week bottom at 1.1086 to 1.1172 yesterday, subsequent retreat to 1.1129 suggests temporary top is in place and consolidation with downside bias remains, below 1.1105 (Tuesday's low) would bring re-test of 1.1086, where break would extend decline from Dec's 4-1/2 month peak at 1.1239 to 1.1067/70.
Offers are tipped at 1.1145/50 with stops above 1.1170 while bids are noted at 1.1120, with more below and stops below 1.1100.

On the economic calendar today, Swiss will kick off with producer/import price, then France budget balance, Italy trade balance, CPI, and EU current account, construction output, HICP.

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AceTrader Team

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Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

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