EUR / USD is consolidating after the new Forex market breakthrough yesterday.
Although the sluggish trend continued to dominate, the euro fell below 1.1300 yesterday after the announcement of Trump's desire to introduce customs duties on vehicles next week.
As the 1.1300 threshold has a resilience role, the new support has been found around 1.1275.
The breakthrough this morning failed at 1.1267, and now we are in the 1.1275 / 1.1300 range.
Short-term bias is still down, but waiting and viewing approaches and caution prevent a strong euro-dollar development.
Indeed, in addition to today's afternoon's economic calendar statistics, US GDP at 14:30 and sales of new dwellings within 16 hours, as well as Fed Chairman Powell's speech in 18 hours, the market is still paying attention to the news from the moment.
In the UK, Theresa May tries to persuade MPs to win a favorable vote and ratify the EU's withdrawal text. In Europe, discussions continue between Italy and the EU to try and avoid sanctions. And in the United States, we expect tax declarations to be announced yesterday and for a meeting between Trmp and Xi on trade on Friday G20.
Therefore, several influential Forex issues are being considered, and at the end of the week they could be unstable against EUR / USD. Therefore, caution should be exercised.
With regard to technical thresholds, support can be identified with 1.1275, 1.1250, 1.1215 (annual tile) and 1.1200. Resistances are 1.1300, 1.1330, 1.1344 / 50 and 1.1374 / 85.
At the moment, EUR / USD Forex trading is around 1.1285.
EUR / USD H1 chart
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