Monday, February 19, 2018
Banner Top
EUR/USD Daily Fundamental Forecast – January 16, 2018
Banner Content
The pair has been continuing its relentless move higher over the last few weeks and there are no signs of a reversal as yet
Advertisement

The EURUSD pair continues to trade in a very strong manner over the last 24 hours as the pair broke through the 1.22 region again and made a beeline to the 1.23 region. It has not managed to break through this region so far but it appears only to be a matter of time before it does so. It was a holiday in the US yesterday but still it was all about the dollar weakness during the day.

EURUSD Eyeing 1.23

The dollar weakened across the board and it appeared as though the dollar bears did not seem to want to take any rest as they pushed the dollar lower despite the holiday in the US. It was all about the dollar weakness yesterday more than the strength in the euro and there was no major fundamental news from the US or the Eurozone to justify this drive higher but no one seemed to care. The dollar has been weakening over the last month or so but most of that has been happening during a period of low volume, as in yesterday, but for those who expected a reversal of this move, it has been more and more pain on a daily basis.

EURUSD Hourly
EURUSD Hourly

To add to the misery of the dollar bulls, so far, there has not been any sign of a reversal in the trend. The move down in the dollar seems to continue relentlessly though there has not been much in way of any fundamental drivers for this move lower. The misery for the dollar bulls has been increased due to the strength of the Euro with some strong incoming data prompting the ECB to thinking about ending the QE by the end of this year.

Looking ahead to the rest of the day, we do not have any major news from the Eurozone or the US but the US traders return back from their long weekend and so we can safely expect a lot of volatility to exist in trading today. It may also lead to a small correction in this trend higher in the EURUSD pair.

Banner Content

0 Comments

Leave a Comment

Jimmy BUY LICENSE 1 out of 5 agents online CHANNELSAGENTS Add agent Add communication channels: Chat on site Telegram Mobile SDK Facebook Viber Email WhatsApp xtreamacademy.com SETTINGS ARCHIVES STATISTICS ASSIGN AGENTS Jimmy JivoChat code is not installed on this site INSTALL CODE xtreamacademy.com SETTINGS ARCHIVES STATISTICS ASSIGN AGENTS Jimmy JivoChat code is not installed on this site INSTALL CODE Install Code on xtreamacademy.com Installation Send instructions to my webmaster Install the following code on every page of your site right before the closing tag, or use one of the CMS plugins below: COPY TO CLIPBOARD Or select and install one of following plugins OPEN SITE SETTINGS Download the agent's app: For Windows & MacAndroidiPhoneBrowser-based Support License Agreement JivoChat Inc. © 2011-2018. All rights reserved