EUR/USD: mixed start to the week, eyes on politics

EUR/USD: markets looking to the week ahead as Syria is shrugged off.

EUR/USD: risk tone mixed

EUR/USD has been up to test the 100 hourly rising SMA at 1.2343 with a mixed start to the week in terms of risk sentiment. The Syrian risk was shelved to begin with, treated as old news while markets then turned attention to the ABC Comey interview instead that has just got underway. 

Risk tone: well, so far so good, just another attack on Syria, market moves on . . .

Following the end of last's week trade where the threats from Trump over Syria were heightened, there were three subsequent targets hit in Syria over the weekend, with more than 100 missiles fired against what they say were Syrian chemical weapons facilities.

Eyes turn to the week ahead instead

However, there was little in the way of an immediate threat/retaliation from the usual suspects and given the time that passed since the strikes, the yen, in fact, weakened off slightly and focus remain on the week's coming data events and friendlier trade environment. 

The week ahead: plenty of key data to chew on - Nomura

EUR/USD levels

Valeria Bednarik, chief analyst at FXstreet explained that, technically, the EUR/USD pair has been developing inside a symmetrical triangle since mid-February: 

"Technical indicators in the mentioned chart remain attached to their mid-lines, with no clear directional strength. Shorter term, the pair presents a neutral-to-bearish stance, as in the 4 hours chart, the upside is being contained by a flat 20 SMA, the Momentum indicator heads lower within negative territory, while the RSI heads nowhere around 50."

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.