EURUSD Daily Market Updates (12th Jan, 2017)

EURUSD is consolidated bullish at 1.0499, down -0.59% on the day, having posted a daily high at 1.0568 and low at 1.0454. The major has traded with sharply bearish bias enough to well-known fundamental variables affecting the once booming European Union. Greenback is initiating to come off and missing ground across the board as Trump offers the headway that he is heading into his commencement just 9 days away.

Technical Analysis:

EURUSD consolidates beneath 1.0600 after exchanging mixed on Wednesday. The major managed a substantial support at 1.0480 as in prior week it pulled back higher from this level. At present, the pair is continuing below a 50% retracement at 1.060 in a daily chart moreover, it is very probable continued below this level. Lastly, the major has a resistance around 1.0604 and 1.0665, whereas the support remains at 1.0577 and 1.0530.

EUR
French Final CPI m/m
Italian Industrial Production m/m
Industrial Production m/m
ECB Monetary Policy Meeting Accounts

USD
President-Elect Trump Speaks
FOMC Member Dudley Speaks

Daily Trading Range:
1.0650 – 1.03200

Support & Resistance Levels
R3: 1.0702
R2: 1.065
R1: 1.0619
Pivot Point: 1.0567
S1: 1.0515
S2: 1.0484
S3: 1.0432

Recommendation
(Sill Active)
Buy Above: 1.0575
Take Profit:
1st @ 1.0651
Stop Loss @ 1.0550

EURUSD- Chart

2 thoughts on “EURUSD Daily Market Updates (12th Jan, 2017)”

  1. So you reckon dollar is gong to continue falling for the rest of the week..