The EURUSD pair is stuck in a BIG range between 1.13 and 1.1850 (BLUE Lines). Within this range we have a smaller one between 1.1525 and 1.1735 (RED Lines).
We have constant positive and negative news coming from the USA which is taking precedence over the pairs direction. The euro part of the pair is currently a slave to the dollar’s ongoing strengths or weaknesses.
We got the US negatives (Weakening the dollar): China trade wars, mid-term elections (uncertainty), Trump (uncertainties and confusion), global trade agreement concerns and US debt levels that continue to soar.
The key positive for the dollar is the FED’s ongoing policy of higher interest rates with more on the way in 2018.
Although I am negative on the EURUSD pair as I can’t see any positives from Europe to that would support the EURO currency it a case of waiting for the spots when the positive news in the US far outweighs the negatives.
The charts will help tell you what is currently strong or weak as the pair rises or falls. The news or the fundamentals are the engine behind the moves and knowing this will give you more information and confidence to take the trade or not.
Join us for our next free webinar on Monday the 1st October.
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|23.7.2018||Is the EURUSD heading down this week?|
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