EUR/USD rises further as Wall Street trims gains

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - European currencies and the yen gained momentum against the US dollar during the last hours as stocks in the US moved off session highs. EUR/USD rose further above 1.0900 and reached at 1.0933 the strongest level since last Friday.

    The pair traded momentarily above Monday’s highs but so far it has been unable to consolidate above 1.0930. Currently, it trades at 1.0920/25, up 35 pips from yesterday’s closing price.

    EUR/USD levels

    To the upside, resistance levels lie at 1.0930/35 (Jan 18 & 19 high), 1.0985 (Jan 15 high) and 1.0995 (Dec 28 high). On the opposite direction, support might be seen at 1.0910 (previous high), 1.0885 (20-hour MA) and 1.0855 (daily low).

    Stocks retreat, oil holds at lows and gold recovers

    Equities in Wall Street continued to move off session highs. The Dow Jones was up by just 0.32% or 50 points while the Nasdaq was practically unchanged. Crude oil remained near the lows, with the WTI hovering around $30.00. On the opposite direction, gold recovered and was attempting to climb back above $1090 an ounce.

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