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.
Weekly FX Analysis
Weekly Analysis: Despite key economic data being released last week, the pair remained in a relatively tight range, bouncing between 1.1600 support and 1.1700 resistance for the entire week.
Weekly Analysis: The European currency weakened after ECB President Draghi announced a QE taper on Thursday last week. From 2018 the monthly pace will run at 30 billion Euros, as opposed to the current 60 billion Euros.
Weekly Analysis: Last week the pair remained in a relatively tight range, moving above and below the 50 days Exponential Moving Average, which is flat thus confirming the lack of momentum.
Weekly Analysis: The pair climbed above the 50 days Exponential Moving Average last week, mostly due to concerns regarding inflation in the United States. However, the resistance at 1.1875 couldn’t be broken and now some rejection is present.
Weekly Analysis: In the early part of last week’s trading session the US Dollar made substantial advances and reached the support at 1.1713. However, some of the greenback’s gains were erased and the pair climbed back into the 50 days Exponential Moving Average.
Weekly Analysis: The Euro continued to strengthen last week, fueled by a positive ECB outlook regarding economic expansion. The pair breached the previous high and created a new one at 1.2092 but retraced lower in the last day of the week.