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EUR/USD at a new 14-month high on Trump Junior Troubles

EUR/USD is trading at 1.1474, the highest since May 2017 as the greenback weakens on the troubles of Trump Junior.

A “smoking gun” was presented by the New York Times: evidence that the son of the president knew the Russian government wanted to offer him valuable and incriminating information about Hillary Clinton.

A potential impeachment of the President or merely the trouble could further derail any potential infrastructure spending or tax cuts.

The next level of resistance is 1.15, followed by 1.1620. Support is at the former resistance line of 1.1445. The euro is on the uptrend since the beginning of the year.

More:  EUR/USD: ‘Mess Around’ Here Before Positioning Lighten Up To Trigger A Break Higher – SocGen

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.