EUR/USD reverses Friday’s drop and tests 1.1030. DXY trades slightly offered on Monday. German IFO next of relevance later in the morning. The single currency has started the week on a better mood and is now helping EUR/USD to regain some poise and test the 1.1030 region. EUR/USD now looks to German data After three consecutive daily pullbacks, the pair is now managing to regain some buying interest and is moving closer to the key 55-day SMA in the 1.1040 region amidst some renewed offered tone in the buck and lack of fresh headlines from the US-China trade front. In the docket, investors will be closely following the release of the German IFO for the current month in search of some improvement (if any at all) in the German morale. Later in the week, November’s advanced inflation figures in Germany and the broader Euroland should keep the EUR in centre stage. Across the pond, the Chicago Fed index is only expected later in the NA session. What to look for around EUR Spot has been rejected from the vicinity of the 1.1100 barrier once again last week, sparking the subsequent knee-jerk to the vicinity of the critical support at 1.10 the figure. As always, EUR is expected to keep tracking trade headlines and USD-dynamics for the time being. On the more macro view, the outlook in Euroland remains fragile and does nothing but justify the ‘looser for longer’ monetary stance by the ECB and the cautious view on the European currency in the medium term. In this regard, latest estimates from manufacturing PMIs in the euro region hint at the likeliness that the sector appear to have bottomed out, although the contagion to the services sector looks more evident as it gained extra pace. EUR/USD levels to watch At the moment, the pair is gaining 0.12% at 1.1031 and faces the next hurdle at 1.1083 (100-day SMA) followed by 1.1097 (monthly high Nov.21) and finally 1.1171 (200-day SMA). On the downside, a break below 1.0989 (monthly low Nov.14) would target 1.0925 (low Sep.3) en route to 1.0879 (2019 low Oct.1). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CHF negative below 1.0014/28 – Commerzbank FX Street 3 years EUR/USD reverses Friday's drop and tests 1.1030. DXY trades slightly offered on Monday. German IFO next of relevance later in the morning. The single currency has started the week on a better mood and is now helping EUR/USD to regain some poise and test the 1.1030 region. EUR/USD now looks to German data After three consecutive daily pullbacks, the pair is now managing to regain some buying interest and is moving closer to the key 55-day SMA in the 1.1040 region amidst some renewed offered tone in the buck and lack of fresh headlines from the US-China trade front. In… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
