EUR/USD ate the low hanging fruit, moving higher from here is hard

The EUR/USD rallied on Trump’s comments about low interest rates. Can it continue moving higher? The pair now faces substantial resistance. The Technical Confluences Indicator shows that the pair will initially need to win over the 1.1655 level. This is the convergence of the Bolinger Band 4h-Middle, the Fibonacci 23.6% one-day, and the Fibonacci 23.6% one-week. A move higher will face […]

EUR/USD is closer to a breaking point

The EUR/USD is on the back foot, repeating the pattern from yesterday. Markets are watching the trade spat between the US and China. The technical picture shows bears are gaining more ground. The EUR/USD is struggling with 1.1600 once again as the US Dollar gains fresh strength across the board. A similar move was seen […]