As we expected from the beginning of this week, the EUR / USD will continue to move in a limited and narrow range, which occurred,
The Euro continues the chop around without any type of direction, as per usual.
Since the beginning of this week’s trading, the performance of the EUR / USD pair, as we expected, was in a limited range.
The Euro initially tried to rally during the day on Monday but ran into trouble at the same general region than that we have seen it roll over recently.
The Euro tried to rally during the trading session on Friday but has rolled over after the initial surge post nonfarm payroll.
The Euro shot higher during the trading session on Thursday, reaching towards the 1.11 EUR level before rolling over again.
The Euro has rallied during the trading session on Wednesday to break back above the 1.10 level.
The Euro initially fell during the trading session on Tuesday, reaching towards the 1.0925 level before turning around and rallying.
The Euro has initially tried to rally during the trading session on Monday but found enough resistance at the 1.10 level to turn things around and sell off yet again.
The Euro has broken down significantly during the Friday session, slicing through the 1.10 EUR level.
The Euro continues to struggle overall, but at this point I think it’s probably going to continue more of the sideways move than anything else in the short term.
The Euro initially tried to rally during the trading session on Thursday, but then broke down yet again as we continue to grind lower.
The Euro should continue to drift a bit lower due to the fact that the market has been focusing on US Treasuries as of late, and of course the differential between the German and American economies.
For those of you that don’t know, this is typically one of the least exciting trading weeks of the year, as quite a few of the larger traders around the world are on awaited vacation.
The beginning of this week's trading was positive for the EUR / USD as it moved towards the 1.1163 resistance.