The common European currency is continuing to surge against the Dollar in junior ascending channel.
The common European currency is continuing to grow against the Dollar in large ascending channel.
The Dollar continued to weaken against the Euro amid ongoing uncertainty over the terms of implementation of the corporate tax cuts.
Despite an announcement of conclusion of deals worth $253.4B between American and Chinese companies, the Dollar did not appreciate against the Euro.
The common European currency is continuing to trade against the Dollar in junior descending channel.
The currency exchange rate continues to fluctuate between the 1.1610 and 1.1580 levels, as expected.
Due to release of better than expected American data, the currency exchange rate slipped to the 1.1605 level.
In result of disclosure of details about the new tax reform, the Dollar lost some ground to the common European currency yesterday.
Although there was a release of various fundamental data, the pair did not make any major advances yesterday.
Despite a release of better than expected American data, the pair continued to move horizontally between the 100- and 55-hour SMAs.
Due to Paul Manafort and Rick Gates indictment the Dollar depreciated against the Euro and returned back to the 1.1658 mark.
Following ECB meeting, the pair entered into a red zone and has successfully travelled from the upper till the bottom trend-line of a dominant descending channel.
According to Mario Draghi, the ECB decided to cut the asset purchase program to €30 billion/month but simultaneously extend it to another nine months.
Despite a release of positive data on the US Durable Goods Orders, the Euro continued to rally against the Dollar yesterday.
After failing to break above the 100-hour SMA near 1.1780, the pair slipped back to the 55-hour SMA at the 1.1757 level.
On Tuesday morning the common European currency was in a rebound against the US Dollar, which was about to stop.
In result of continuous tensions on the Iberian Peninsula, anticipation of the ECB meeting and conduction of two non-binding referendums on independence in Northern Italy, the Euro depreciated against the Dollar and slipped through all three moving averages.
Despite escalating tensions in Spain, the Euro continued to rally against the Dollar yesterday.
Because of release of weak US housing data the Dollar failed to drag the Euro even below the weekly S1 at 1.1735.
Although the currency exchange rate failed to pass through the weekly S1 from the first attempt, the pair is still expected to move in the southern direction.
In result of the previous trading session, the currency rate broke through the 200-hour SMA.
Despite a release of worse than expected data, the currency exchange rate failed to surge above the monthly PP at 1.1875 and made a rebound.
In result of the previous trading session the currency pair made a successful breakout from a one-week long rising wedge pattern.
The Euro continued to gain value against the Dollar, as FOMC meeting minutes showed that there are still some uncertainties about the need of another interest rate hike this year.