In line with expectations, the release of better than expected American macro data as well as progress made on tax reform adoption led to strong appreciation of the buck.
Due to hawkish remarks made by the Fed Kaplan, the Dollar gained some momentum and dragged the pair back to the 55-hour SMA located at 1.19.
The common European currency is continuing to advance against the Dollar in an attempt to reach the 1.20 mark.
Previous trading session the currency rate expectedly spent in limbo between the 1.1860 and 1.1837 levels.
A release of the US macro data as well as the Fed Meeting Minutes led to rapid depreciation of the Dollar against all major currencies.
In result of the previous trading session, the currency rate slightly crossed the bottom boundary of a large ascending channel.
The currency exchange rate expectedly slipped to the bottom boundary of a dominant ascending channel.
The currency exchange rate is rise in a large ascending channel.
Previous trading session the currency rate expectedly spent in a limbo between the 38.2% and 50% Fibonacci retracement levels.
In result of a breakout from previously dominant large descending channel the exchange rate managed to climb to the 1.1850 level.
In result of an impulse provided by the positive German GDP data release, bulls took the lead and increased value of the Euro against the Dollar by more than 1.5%.
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.