Despite positive developments in the US economy, the buck did not manage to secure these achievements and ended previous trading day near the weekly S1, which is located at the 1.1905 level.
Due to market reaction to release of data on the US PPI, the currency rate managed to break through the bottom edge of a senior ascending channel.
Yesterday the currency pair expectedly failed to make a fully-fledged rebound from the bottom trend-line of a dominant formation due to pressure from the 55- and 100-hour SMAs.
The common European currency continues to trade against the US Dollar, as expected by our analysts.
Last Friday the currency pair expectedly ended in a red zone, reaching a combination of the 55-hour SMA and the weekly PP at 1.1999
An announcement of the EU Minimum Bid Rate and the subsequent remarks delivered by Mario Draghi once again led to sharp advance of the currency pair.
During the whole previous trading day the currency pair was expectedly moving along the moving averages in minor ascending channel.
During the last five days the currency exchange rate was trying to break through the bottom edge of a senior ascending channel.
Unfortunately for the Euro, the currency pair continues to fluctuate near the bottom edge of a senior ascending channel.
On Friday, the currency pair unexpectedly continued the fall after release of disappointing data about the US labour market.
Yesterday the currency rate expectedly failed to break through the combined support level and was forced to make a rebound.
Yesterday the currency pair continued to slip in a small descending channel, following an encouraging release of information on the US Preliminary GDP.
Yesterday the buck expectedly restored some of the lost positions thanks to release of the satisfying US CB Consumer Confidence data.
The currency pair is continuing to surge, using an upside momentum created by the Jackson Hole Symposium last Friday.
The effects of the Jackson Hole symposium have taken full effect on the EUR/USD pair.
The day of the yearly central banker meeting has come. Today the EUR/USD currency pair will surely be affected by the speeches of the heads of the central banks. However,
The EUR/USD forecast continues to be correct.
The common European currency continues to move in accordance with the descending channel pattern against the US Dollar.
The EUR/USD pair has reached higher and hit the upper trend line of the descending medium term pattern. However,
The common European currency continues to trade against the US Dollar in the medium term descending channel pattern.
During the last trading session the EUR/USD pair has acted rather unexpectedly, breaking the week long streak of precise forecasts.
The common European currency continues to trade against the US Dollar in the medium term descending channel pattern. Moreover,
The EUR/USD pair has reached another target, as it has bounced off the support line of the medium term ascending channel pattern. The forecasting of the pair's movements has been becoming increasingly easier during this week.
The common European currency continues to decline against the US Dollar in the recently adjusted channel down pattern.