Forex News: The pair remained in a tight range for most of yesterday’s trading session but later in the afternoon bullish pressure increased and we saw a break of the horizontal channel. However, it remains to be seen whether this break is true or not.
Daily FX Analysis
Forex News: The pair remained inside the range for the entire yesterday’s trading session, mostly due to the lack of any fundamental developments or economic data releases. Trading was choppy and without important advances to either side.
Forex News: Friday we saw mixed price action and yet another move into resistance that resulted in a bounce lower. The US Consumer Sentiment survey posted a lower than expected reading but the US Dollar still gained against the Euro and overall price remained in range-mode.
Forex News: The pair continued to trade in a range yesterday and showed a bounce at resistance followed by a failed break of support. The US data was mixed and didn’t have a notable impact on price action.
Forex News: The Final version of the European CPI was in line with expectations, posting a 1.4% change and the pair remained inside a range for most of yesterday’s session.
Forex News: The pair finally retraced lower during yesterday’s trading session after failing to break 1.2280 resistance. The move was mostly technical as no major economic data was released for either currency in the pair.
Forex News: Price action remained bullish yesterday but without any major developments coming from the fundamental scene. The pair reached the long term resistance at 1.2280 and bounced lower.
Forex News: Friday’s US data was mixed and did little to stop the assault of the Euro, which was boosted by positive news coming from the German political scene. The pair climbed strongly for the entire day, finishing the session more than 150 pips higher.
Forex News: The ECB revealed yesterday that some changes to the interest rate or QE program might be coming in early 2018 and this was the reason for the strong climb, which was further fuelled by a disappointing U.S. Producer Price Index.
Forex News: During yesterday’s trading session the US Dollar took a big hit after news emerged that China is planning to stop buying US government bonds. The pair rallied sharply into 1.2000 area but the level is still holding at the time of writing.