- EUR / USD cuts its bullish streak on Monday as the dollar rallies.
- Limited Tours Day, US Holiday
The EUR / USD is falling modestly on Monday, on a day where the dollar is rising modestly. The price fell to 1.1855, the lowest level since Thursday. From the floor it bounced slightly and is trading at 1.1865.
In financial markets, equity markets are rising supported by expectations of stimulus from China and recovering after the Wall Street crash on Friday. On Monday the US markets will not operate due to a holiday.
Despite the positive climate, the dollar is rising on almost all fronts. The US Dollar Index (DXY) is up 0.15% and is trading at 92.25, snapping a four-day losing streak.
With the US jobs report in the rearview mirror, the key event this week will be the meeting of the European Central Bank (ECB) on Thursday. Market consensus suggests that no changes will be announced. The latest comments from ECB officials on the purchasing programs have raised the attention of the meeting.
Fix after not being able to 1.1900
From a technical point of view, EUR / USD is in retreat after failing to sustain the 1.1900 break. Very short-term indicators are pointing lower, but this could change with an advance over 1.1880. In a broader perspective, the euro needs to break 1.1900 to enable more raises.
In the opposite direction, the setback could continue in the next sessions. As long as it remains above 1.1830, it will be a corrective process; there is a downtrend line that was broken last Thursday.
Technical levels
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