EUR/USD forms double bottom on the daily chart
The EUR/USD did not break any new ground after the European close on Friday. The rise into the 4pm London fix stalled again ahead of the noted 1.0673 resistance level, peaking this time at 1.0672. The subsequent drop back into the US close saw it slip to around 1.0640, before later ending the week at 1.0653. What the price action on Friday did deliver was a clearly defined double bottom on the daily charts, after it set a low at 1.0615. The low seen the day before had been set at 1.0617. So far today the EUR/USD has remained in a tight range, with 1.0643 to 1.0657 covering it ahead of the European opening. The immediate price action of last week could suggest we might see an extension, if either side of 1.0615 and 1.0673 is taken out, but so far today that has not happened. The EUR/USD is just now at 1.0649
Market News
All News-
Another important number for the EUR/USD to focus on at 3pm GMT
Leaving aside the latest ISM data due out shortly, there is also another important release due out at the same time. That is the latest JOLTS, job...
-
US stocks open lower- Dow Jones drops back closer 36k
The US stock markets have just reopened and it has been a negative start to the session. That might change as the afternoon unfolds and as already...
-
Nasdaq 100 futures still in the red as ISM awaits
The US stock markets will soon reopen for live trade and ahead of that opening the Nasdaq 100 futures are still in the red this afternoon. Even after...
