Forex News: The Euro was boosted by news that the ECB might change their forward guidance to a more hawkish tone and also by positive news coming from the German political scene, later in the week. All this triggered a huge climb, breaking last year’s high.
Weekly FX Analysis
Weekly Analysis: Last week price action slowed down and the pair traded in a relatively tight range between 1.2000 support and 1.2092 resistance. Overall it was an uneventful week and the pair is likely to enter a consolidation phase.
Weekly Analysis: The US Dollar ended the year on a bearish note, weakening for the entire last week against the Euro. The pair finished 2017 right on the key resistance at 1.2000 but it is unclear yet if we are dealing with a true break.
Weekly Analysis: Last week belonged to the US Dollar that showed signs of recovery and took the pair into 1.1700 area. Most of the move was technical as the economic scene was slow and without market moving events.
Weekly Analysis: The US Dollar showed modest gains in the beginning of last week but the pair then climbed on the back of U.S. political turmoil. Overall price action was choppy and characterized by reversals on the lower time frames.
Weekly Analysis: Euro strength combined with US Dollar weakness across the board generated a bullish week and a break of key resistance. The pair has exited the consolidation phase but the long term uptrend has not yet resumed.
Weekly Analysis: Buying interest around the Euro increased last week and the pair moved above several types of resistance, finishing the week more than 100 pips higher than it started.
Weekly Analysis: In the second part of last week the pair showed some signs of directional movement but overall it is still in a range, bouncing between 1.1600 and 1.1700. The lack of major economic releases contributed to the slow movement.