EUR/USD consolidates gains above 1.0700

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The rally of the EUR/USD pair lost strength above 1.07500 and made a modest pullback afterwards. It is still about to rise for the second day in a row with the biggest gains in a month.

    EUR/USD capped around 1.0750

    During the American session a weak US dollar pushed the pair further to the upside. It peaked at 1.0762, the highest since Monday and then pulled back finding support at the 200-hour MA that stands at 1.0717. It was trading at 1.0735/40 moving again toward the 1.0750 zone.

    Greenback is about to end lower across the board, as the decline that started yesterday following FOMC minutes continued on Thursday.

    Economic calendar ahead

    Today’s economic data from the US showed better-than-expected numbers with the Philly Fed. Tomorrow no relevant data will be published in the US where James Bullard will deliver a speech.

    In the Eurozone, wholesale inflation data from Germany and preliminary consumer confidence data from the Eurozone will be release. Regarding speeches it will be the turn of the president of the Bundesbank.
    For more information, read our latest forex news.

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