HelenRush

EURUSD is still good to buy on dips

FX:EURUSD   Euro / U.S. Dollar
The EURUSD             pair basically shrugged off the latest ECB statement which was viewed as dovish by markets. After a dip towards the support area at 1.1760, the pair has recovered part of the post-ECB slide and is probing the 1.18 handle again.
The dollar didn’t receive any meaningful support from strong US retail sales data as traders are still focused on the Trump’s tax plan. The uncertainty on this front continues to depress the greenback, which plays into the euro’s hands.
The Fed still expects three quarter-point rate hikes next year. But considering low inflation and a number of other economic as well as political risks in the US, the central bank may be forced to slow down the monetary policy tightening in the longer-term. Meanwhile, the ECB is expected to continue to cut the rate of bond purchases on the back of strengthening economic fundamentals for Germany and the Eurozone.
In the short-term, EURUSD             needs to regain the 1.18 mark. The move above this psychological level will introduce scope to strong resistance at 1.1855. Selling interest is also noted in the 1.1870 zone. Meanwhile the major support is at 1.17 where the pair is still good to buy on dips. The immediate supports come at 1.1770 and 1.1740.
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