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A technical look at the EUR/USD and here is an important level
As you know now, the EUR/USD gap opened lower yesterday on the Asian opening and that led to a slide to 1.0141 very shortly afterwards. The rebound that has followed saw the EUR/USD reach exactly 1.0350 earlier in Asia today. The exact low point seen on Friday ahead of the US close was? You guessed it: it was at exactly 1.0350. So, that means the Asian price gap as now been closed. The same is not exactly true for Europe and the US, but leaving those sessions aside, the gap on the charts has been closed and that may explain the rejection of any price action above 1.0350 earlier today. What seems clear; is that sellers stepped back in at that level earlier. The question now- does 1.0350 define the top of the shop today? Well, it could be, but if Trump has his EUR/USD trading hat on then he sure can decide on that. We shall see folks. The EUR/USD is currently trading at 1.0336
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