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EUR/USD jumped half a cent in early Friday morning, as E.U. and Italy reached a deal on immigration. That led to broader U.S. dollar selling, with USD index repeatedly rejecting prices above 95 (also 200 WMA). The displayed momentum suggests continuation. That being said, EUR/USD is likely to encounter some resistance near 1.175, if not earlier.
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FX markets will soon open for the year
Most markets are still closed but will soon kick off into what I expect to be a volatile year ahead. U.S. dollar index posted a lowest monthly close in three years while EUR/USD closed 2017 above 1.20. Will we see a repeat of January 2015, just in reverse?
BTW: I'd like to express my gratitude to Dukascopy for providing outstanding products, services and support, and to fellow community members for their support, suggestions and ideas. I wish everyone a healthy, happy and successful year ahead!
BTW: I'd like to express my gratitude to Dukascopy for providing outstanding products, services and support, and to fellow community members for their support, suggestions and ideas. I wish everyone a healthy, happy and successful year ahead!