August 21, 2017 7:05 am EST
By NewsMovesMarketsForex Staff Writer
Over the last 4 days EUR USD has been Trading in 112 Pips range. Euro hit a high of 1.1 773 on August 17th 2000, and then hours later suddenly hit a low the same day after ECB policy meeting on August 17th 2017th where the council cited concerns about the Euro overshooting its mark. Appreciating and inflationary concerns resulting in the Euro hitting a low of 1.1661 before bouncing back up to the mid 1.1741 range. The EURUSD attempting to make a break to the upside testing the high of 1.762 possibly testing the resistant 1.1793 level as of 7:13 am Est this morning.
EUR USD started off the Forex Trading week August 20th 2017 evening session Trading down from its highs of 1.1762 to a low of 1.1730.
The currency has broken above the simply moving average. The 1 hour RSI is at 60.1 and the Daily RSI is at 51 showing signs of strength.
In the data front we have very limited Euro News coming out of Germany today. However on Tuesday August 22nd 2017 at 0500 a.m. eastern standard time the Germany ZEW Economic Sentiment (Aug) numbers expected to be released forecast 15 and previous was 17.3.
- Euro FX futures September 2017 1. 665 down point .0007 as of 7:05 a.m. eastern standard time
- U.S. dollar is holding his own the dollar Index is at 93.51 .04 up .03% at 6:45 a.m. this morning Eastern Standard Time.
- The US 10-year treasury note trading at 2.185% down .006. Open at 2 point 2.05%
On the Commodities front Gold is trading at 1292 .80 up .06%
- Silver is trading at 16.995 -.005 -.03%
- Crude oil is trading at 48.62 .11 up to .25%
**Technical Analysis Outlook EURUSD: “Bullish” | 39 pip Trading Range 08/18/2017 High 1.769 Low 1.7730
- Potential intraday resistance areas for the EURUSD 1 .17193, R2 1.1827, Intraday Support areas 1.1700, 1.1502
- 1 Hour RSI 58 Daily RSI 55