EUR/USD continues to drift lower

EUR/USD has been soft all session and now trades 0.24% lower.
The next support could be the psychological 1.10 handle.

Rajan Dhall, MSTA FX Daily

The US dollar strength has been relentless today as gold and all of the FX majors have struggled against the greenback.

Just now there have been reports that Trump may not be willing to roll back tariffs on Chinese goods.

US President Trump says he has not yet agreed to roll back tariffs on China; notes that China would like him to do so and China want him to make a trade deal

Despite this news, the dollar is surging and the dollar index is at a level not seen since 16th October.

It seems that is there is good or bad trade news the dollar is rising. One side is protectionism the other is risk appetite.

EUR/USD is now 20 pips or so away from the psychological 1.10 level which could provide some relief.

EUR/USD Chart

Additional Levels

EUR/USD

Overview
Today last price	1.1026
Today Daily Change	-0.0020
Today Daily Change %	-0.18
Today daily open	1.1046

Trends
Daily SMA20	1.1102
Daily SMA50	1.104
Daily SMA100	1.1119
Daily SMA200	1.1191

Levels
Previous Daily High	1.1092
Previous Daily Low	1.1036
Previous Weekly High	1.1176
Previous Weekly Low	1.1074
Previous Monthly High	1.118
Previous Monthly Low	1.0879
Daily Fibonacci 38.2%	1.1057
Daily Fibonacci 61.8%	1.107
Daily Pivot Point S1	1.1024
Daily Pivot Point S2	1.1002
Daily Pivot Point S3	1.0968
Daily Pivot Point R1	1.108
Daily Pivot Point R2	1.1114
Daily Pivot Point R3	1.1136

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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