HelenRush

EURUSD struggles for direction ahead of Trump-Juncker talks

FX:EURUSD   Euro / U.S. Dollar
The EURUSD pair continues to tread water around the 1.17 handle, unable to attract buying interest ahead of the key event of this week – the EU-US trade talks which could give a more directional impulse to the single currency. The pair failed to make a clear break above the mentioned resistance on several occasions, which points to a lack of bullish enthusiasm among traders.

A cautious tone is explained by the upcoming Trump-Juncker meeting where the two leaders will discuss trade relations between the EU and the US. The talks are a wildcard for the euro as trade rhetoric could either send the pair lower amid a risk aversion, or inspire euro bulls should the European Commission President cheer Trump’s call to drop all trade barriers and tariffs with each other so that to encourage free trade.

Depending on the outcome, EURUSD could jump to 1.1750 and higher, or drop to the 1.1620-1.16 area. Anyway, the bullish scenario looks less likely, considering that the EU is reported to be preparing counter tariffs of $20B on US goods. Ad for tomorrow’s ECB meeting, it could be a non-event for the pair this time.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out