EUR/USD takes off on Trump's presser, breaks 1.0500

Currently, EUR/USD is trading at 1.0499, down -0.59% on the day, having posted a daily high at 1.0568 and low at 1.0454.

The greenback is starting to come off and losing ground across the board as Trump introduces the headway that he is making leading into his inauguration just 9 days away.

Trump at a press conference started to announce a few number of business deals taking place in the United States, explaining there is a great spirit, and Trump will be the biggest jobs creator that god ever created.

Trump opened talking about how the auto industry will be expanding with Fiat, Ford and Chrysler who will be building new plants in the US while Ford are cancelling their contract to build a billion dollar plant in Mexico and instead build business onshore. Trump is now taking questions in respect to Russian ties/ potential hacks and fake news.

EUR/USD levels

With spot trading at 1.0497, we can see next resistance ahead at 1.0499 (Weekly Classic PP), 1.0503 (Daily Classic S2), 1.0519 (Hourly 200 SMA), 1.0521 (Daily 20 SMA) and 1.0532 (Hourly 20 EMA). Support below can be found at 1.0486 (Weekly Low), 1.0456 (Daily Classic S3), 1.0454 (Daily Low), 1.0403 (YTD Low) and 1.0390 (Monthly Low).

 

 

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