On Wednesday morning the common European currency remained above the support of the weekly pivot point against the US Dollar, as markets were expecting fundamental news.
The drastic fall of the bullion was stopped by support at the 1,220 mark. As a result a rebound commenced on Tuesday morning.
US manufacturing activity rose more than expected last month, official figures showed on Monday.
The common European currency had retreated against the US Dollar, as it overextended its gains.
Manufacturing activity in Britain slowed unexpectedly last month, a private survey showed on Monday.
The US economy expanded at a stronger-than-initially-expected pace in the March quarter amid higher consumer spending.
The UK economy showed a slow growth pace in the first quarter of the year, the weakest performance among European and G7 countries.
The bullion continues on its path lower. On Monday the commodity price confirmed the theory that the long term ascending channel pattern will be broken.
The EUR/USD currency pair has failed to pass the resistance of the 1.1450 mark. As a result of that, a decline has begun.
The US economy expanded at a stronger-than-initially-expected pace in the March quarter amid higher consumer spending.
The breakout of the triangle pattern has occurred. However, not in the expected direction.
The US economy expanded at a stronger-than-initially-expected pace in the March quarter amid higher consumer spending.
On Friday morning the common European currency remained against the Greenback rather flat, compared to the closing price of Thursday. However,
Pending home sales in the United States dropped for the third consecutive month in May, official figures revealed on Wednesday.
The Bank of England Governor Mark Carney said on Wednesday that the Monetary Policy Committee might need to start raising interest rates soon, adding that the BoE's interest-rate decision would be discussed in the next few months.
The yellow metal remains in the previous range below the 1,250 mark. However, various clues have revealed the future direction of the bullion.
In the most recent speech of the ECB President he attempted to quell the surge of the Euro against other currencies by stating that he was misunderstood. However, that had only a minor effect.
The yellow metal's price on Wednesday morning continued to fluctuate in the rate established during Tuesday's trading session.
Although Draghi already propelled the Euro into the sky on Tuesday, the ECB President has scheduled a public speech also for Wednesday. That is the main focus of the day.
The mood of American shoppers rose unexpectedly this month, hitting a 16-year high.
The Bank of England Governor Mark Carney held a press conference about the Financial Stability Report in London on Tuesday.
The bullion's price was recovering on Tuesday. However, the metal hit a strong resistance cluster during the morning hours.
On Tuesday the EUR/USD currency pair continued to fluctuate between the levels, which squeezed it in on Monday morning.
Orders for US-made durable goods dropped more than expected last month, pointing to a slowdown in the manufacturing sector.