In europe, the calendar is relatively empty except German Ifo Business Climate. In the UK, it is a bank holiday in London in observance of the Summer Bank Holiday. The US calendar is quiet until Wednesday.
Today’s economic data is unlikely to support the euro further after an intense last week’s rally. Besides, the dollar index (KTM: USDX) manages to hold the 50MA this morning. Further weakness could only expect below 94.80. In this case, 94.00-93.80 even possible in a day or two.
EURUSD: Intraday resistance seems to be at 1.1650, and 1.1670 above these 1.1710-1.1715 exists. Supports are at 1.1590, 1.1550 and 1.1500-1.1490.
Intraday range: 1.1730-1.1500.
Trade: Buy the dip at 1.1590 sl below 1.1550 targets 1.1625 and 1.1650
Today’s economic data is unlikely to support the euro further after an intense last week’s rally. Besides, the dollar index (KTM: USDX) manages to hold the 50MA this morning. Further weakness could only expect below 94.80. In this case, 94.00-93.80 even possible in a day or two.
EURUSD: Intraday resistance seems to be at 1.1650, and 1.1670 above these 1.1710-1.1715 exists. Supports are at 1.1590, 1.1550 and 1.1500-1.1490.
Intraday range: 1.1730-1.1500.
Trade: Buy the dip at 1.1590 sl below 1.1550 targets 1.1625 and 1.1650
Comment:
Run througfh the target. More head room left