Yesterday’s American trading session showed us bullish domination. During the session, the common currency gained some value against its American counterpart, thereby letting the price reach 1,3650, which is currently the 2-week high.
Market Leader reports that the major reason for the dollar weakness seen yesterday was the negative economic reports published by the US department of Trade.
According to the department, core durable goods orders dropped from 0,3% down to -0,1% while the US GDP declined down to as much as -2,9%.
As of today's European trading session, EURUSD is currently witnessing bearish domination. The currency pair dropped down to 1,3610. It turns out that the Euro is losing value amid the EU summit. The summit is destined to resolve 2 key issues: fiscal plans and structural reforms coupled with appointing the EU president after the recent parliamentary elections in the EU.
Many observers, especially those in Berlin, are worried and disappointed by the stance shown by some of the EU members, including France and Italy. They strive for more flexibility than just fiscal requirements.
Masterforex-V Academy has analyzed the H1 chart of EURUSD. The chart given below shows us that the bullish mid-term trend continued yesterday as the price completed the break above the top of the 1.3512-1.3642 bullish wave. The price set a new 2-week high at отметке 1.3650. During the nocturnal trading hours, the price consolidated within the scope of the 1.3625-1.3650 range. This is still a bearish reaction.
The key levels to watch:
Resistance: 1.3640 + 1.3650 + 1.3666 and 1.3690.
Support: 1.3601, 1.3583, 1.3565, 1.3537.
