For the second day in a row, the EUR/USD price is moving the in the downward correction amid profit-taking after an upward trend that pushed it towards the 1.1908 resistance, the highest level since May 2018.
The Euro fell after initially trying to rally during the trading session on Monday which kicked off the week.
Throughout the July trading, the EUR/USD performance was in a permanent upward correction pushing it to the 1.1908 resistance, the highest level in months.
The Euro rallied a bit to kick off the trading session on Friday but gave back the gains again as the 1.19 level had been a bit too much.
The Euro initially fell during the trading session on Thursday to reach down towards the 1.17 level.
For three straight trading sessions, the EUR/USD pair stabilized around its highest level since September 2018, at the 1.1781 resistance, before settling around 1.1730 at the time of writing, ahead of the announcement of the results of the most important event for this week, which is the monetary policy decisions of the US Federal Reserve Bank later today.
The Euro has initially tried rallying during the trading session on Tuesday but gave back the gains to test the 1.17 handle.
Complementing the bullish path, the EUR/USD pair started this week’s trading by testing higher highs, and then pushed to the 1.1781 resistance,
The Euro has rallied significantly during the trading session again on Monday, breaking above the 1.17 level.
The EUR/USD pair last week trading was distinguished.
The Euro continues to rally rather significantly, and at this point that is starting to become a relatively dangerous move.
The Euro has gone straight up in the air over the month of July, finally breaking out and changing the overall trend.
The Euro initially pulled back a bit during the trading session on Thursday, but then shot higher again to reach above the 1.16 level before struggling yet again.
Constant pressure on the US dollar and a distinct optimism due to announcing the European stimulus plans, contributed to increasing the pace of gains for the EUR/USD pair,
The Euro has rallied significantly during the trading session on Wednesday, reaching towards the 1.16 level where we had seen a bit of resistance.