EUR / USD is depleted after a two-week recovery

The main currency pair recovered slightly at the beginning of the European session, after the yield on 10-year US government bonds paused around the two-month high, down from one basis point to 1.36% at the moment. However, the US Dollar Index (DXY) refrained from tracking the bond coupon to the south and remained more stable at around 92.55 after the biggest daily jump in three weeks.

In addition to talks about the virus and incentives, market participants remain divided over the European Central Bank’s (ECB) next step and support the search for a safe haven for the US dollar.

It is worth noting that the recent improvement in euro area GDP for the second quarter contrasts with ZEW sentiment data and joins the mixed tone of ECB policymakers to confuse EUR / USD traders ahead of the key event of the week.

During the day, comments from New York Fed President John C. Williams will be key as traders assess the economic difficulties in the United States due to COVID-19 to forecast a decline in asset purchases. In addition, risk catalysts such as stimulus titles and virus updates will also be important for short-term guidance.

EUR/USD Chart:

From a technical point of view, after a two-week recovery of the most traded currency pair, the price showed a slowdown around the peak of August and the main resistance 1.1900. EUR / USD rejected a break of the downward trend line and closed the last daily bearish candle, indicating that more and more sellers are starting to position themselves. The price is at good levels for positioning the ..bars ”, while in case of a break of the downward trend line and the barrier 1.1900, the buyers will sharpen their attention.

 Varchev Traders


Leave a Reply

Login to comment

* Rough, sarcastic and ironic language is not allowed. For such Admins Delete without notice.

Varchev Absolute Trader

борсова платформа

  • Търгувай над 3000 финансови инструмента: Crypto, Форекс, Акции, Индекси, Суровини, ETF-и
  • Използвай платформа с директно изпращане ордерите на борсите
  • Best Trading Platform - "Online Personal Wealth Awards" EU награждава Varchev Absolute Trader
  • Cloud base платформа - твоят трейдинг сетъп на всяко устройство
  • Traders Talk - чуй какво движи пазарите в реално време
  • Market Sentiment - търгувай с настроенията на инвестиционите банки
  • Top movers - най-горещите трейдове във всеки един момент
  • Stocks scanner - филтрирай най-подходящите за твоя трейдинг стил пазарни инструменти
  • Heat map - Търгувай в посоката на големите играчи

Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance