- Price EUR / USD See wave with fresh sales as geopolitical tensions de-escalate.
- The ECB change of tons can provide additional incentive in the euro.
- The market participants are watching a FOMC meeting this week.
The price of EUR / USD maintains a strong momentum of small shifts despite the tension of the Middle East, which weighed for a couple on Friday. The price remains above the secondary 1,1500 area through the early European session.
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After the renovated strike between Israel and Iran, American President Trump called on both countries to make peace. Earlier, the markets saw oversight in the middle of Israeli attacks on Iran nuclear and military facilities, killing many. Iran’s relianth attack also killed civilians in Israel. Global stocks decreased on Friday.
However, European actions began during a positive note, because the probability is likely to be in peace but higher. The US dollar under pressure encourages how the risk appetite improves.
At the foreign front, last week’s trade talks in the United States intensified the sense of risk. More negotiations will be negotiated later that could result in achieving mutually agreed conditions. Hence the risk funds can see the rally.
This week’s most important event is a FOMC meeting, where markets do not expect changes in interest rates. However, a policy statement fed chair is key to watching, because traces of future guidelines can be found until the rate reduction.
On the other hand, ECB’s Nagel commented today that the Central Bank is flexible and will not signal a break or reduce the rate due to the larger amount of uncertainty. He also said that the ECB has already achieved its goals and there will be no reduction in prices in the summer.
Key events in front
There are no major events today. Thus, market participants will look at geopolitical development and trade talks for fresh incentives.
EUR / USD Technical price Analysis: Downnits Limited up to 20th
The foursquired graph shows stubborn support for the 20-period, which limits the potential of Pale. However, the chart also shows a bear with a perennial high in 1,1632. It proposes that the pair has a strong level resistance.
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So, a couple is expected to be between 20th and Pinbar high. The RSI is in 65.0 for now, it gradually reaches the overdraft zone. So, the couple can be seen indentation.
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