EUR/USD month-end flows and critical events ahead send traders to the sidelines

  • EUR/USD ducks away from the 200-HMA as investors take to the sidelines into month-end.
  • It is a major risk event week for the pair, too much to chose from and best siding on an air of caution.

EUR/USD had been on the verge of a test to the 200-hour moving average located around 1.1120 but has run into offers ahead of the target. EUR/USD is currently trading at 1.1109 having travelled some 45 pips from a low of 1.1073 to a high of 1.1118. Indeed, markets are somewhat lacklustre on Tuesday, soaking up a risk-on start to the week ahead of key risk events coming up.

The major themes at this moment in time stay with geopolitical news, ranging from Brexit developments to trade deal progress. For the single unit, mind you, there is an underbelly of risk with respect to the performance of the domestic economy and what the European Central Bank has up its sleeve. 

Scheduled risks events 

The scheduled risks events for the single currency events are as follows: 

  • UK vote on holding a General Election.Eurozone CPI and 3Q GDP (31st).
  • Final Eurozone PMI (4th).
  • German factory orders and Eurozone (6th).
  • ECB Bulletin and EC forecasts (7th).

Then, when we look to the wider calendar, there is plenty out there to rock the apple cart with respect to the US Dollar. We have the Federal Open Market Committee, as well as the US/Chinese ISM and Nonfarm Payrolls all this week. That is quite a lot for month-end, and indeed, with a schedule such as this, swing traders may be inclined to wait it out until the start of next month, although news and day traders will be glued to their seats and high volatility should be expected. 

FOMC in focus

The Federal Reserve is expected to cut rates by 25 basis points again next week, delivering the third consecutive rate cut since July. "The FOMC is likely to communicate patience in deciding future policy moves after next week's cut as they assess the impact of the three cuts they have already delivered. We look for the Fed to temporarily pause before resuming rate cuts in Q1 2020," analysts at TD Securities explained.

On a more fundamental switch up, the European Central Bank, (ECB), will bear witness to more than one major transition this week.

"The ECB is about to institute a fundamental change to its financial plumbing. A smooth implementation of a two-tiered deposit rate could see the ECB more open to further policy cuts," analysts at TD Securities explained, adding, that this, "we think, should reinforce the EUR's status as the funding vehicle of choice in FX markets for the foreseeable future" - In turn, that likely means support for the euro in risk-off markets, (euro buy-backs), despite a dovish backdrop. 

EUR/USD levels


Today last price 1.1108
Today Daily Change 0.0006
Today Daily Change % 0.05
Today daily open 1.1102
Daily SMA20 1.1046
Daily SMA50 1.1036
Daily SMA100 1.113
Daily SMA200 1.1202
Previous Daily High 1.1107
Previous Daily Low 1.1076
Previous Weekly High 1.1063
Previous Weekly Low 1.0941
Previous Monthly High 1.111
Previous Monthly Low 1.0885
Daily Fibonacci 38.2% 1.1096
Daily Fibonacci 61.8% 1.1088
Daily Pivot Point S1 1.1083
Daily Pivot Point S2 1.1064
Daily Pivot Point S3 1.1052
Daily Pivot Point R1 1.1114
Daily Pivot Point R2 1.1126
Daily Pivot Point R3 1.1145



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.

Feed news

Latest Forex News

Editors’ Picks

GBP/USD consolidates losses below 1.3150 amid a tighter election poll

GBP/USD is trading below 1.3150, consolidating its losses after YouGov's MRP poll showed a tighter Conservative majority ahead of the UK elections on Thursday. Trade headlines and the Fed decision are also awaited.


EUR/USD remains pressured below 1.11 amid trade uncertainty, ahead of the Fed

EUR/USD is trading below 1.11, consolidating its gains. Uncertainty about the planned US tariffs on China looms and tension is mounting ahead of US inflation and the all-important Fed decision.


Forex Today: Boris gets a blow from big poll, tariff threat looms, focus on the Fed

President Donald Trump has yet to decide on the December 15 tariffs, according to the Wall Street Journal. On the other hand, the paper says that negotiators are laying the groundwork for a deal.

Read more

Gold stalls two-day winning streak on the Fed day, trade jitters continue

Gold prices register a mild loss of -0.05% while hovering below $ 1465 on Wednesday. The yellow metal seems to have lacked buying interest ahead of the key monetary policy meeting by the US Federal Reserve (Fed).

Gold News

USD/JPY: 200-hour EMA questions immediate rising trend-channel

USD/JPY recently took a U-turn from 200-hour Exponential Moving Average (EMA). Even so, it stays well within the two-day-old rising trend-channel formation. The pair trades around 108.75 at the press time on Wednesday.