EUR/USD adds to Friday’s gains near 1.1150. Attention stays on US-China trade concerns. German IFO, US Durable Goods Orders next of relevance. The buying interest around the single currency remains well and sound so far on Monday and is now lifting EUR/USD to fresh 2-week highs near 1.1150. EUR/USD looks to trade, yields The pair is adding to Friday’s gains and looking to consolidate the recent breakout of the key barrier at 1.1100 the figure, always on the back of increasing trade tensions between the US and China and despite some recovery in the buck. The upside momentum in spot is also bolstered by declining US yields, which have dragged the 10-year yield spread differential vs. German Bunds to the 213 pts area, levels last seen in February 2018. Extra support for the pair can be found following the speech by Chief J.Powell at the Jackson Hole Symposium, where he hinted at the likeliness that further easing (via interest rate cuts) could be in the pipeline in the next months. Later in the session, the German IFO will be the salient event ahead of the release of US Durable Goods Orders and regional manufacturing gauges across the pond. What to look for around EUR The pair charted a bullish ‘outside day’ last Friday and today’s price action should be key in assessing the potential for further recovery in the next days. In the meantime, US-China trade jitters continue to drive the sentiment in the global markets, while expectations of ECB easing and Italian politics warns against the sustainability of occasional bullish attempts, all amidst the unremitting deterioration of the economic outlook in the region. EUR/USD levels to watch At the moment, the pair is advancing 0.11% at 1.1149 and a breakout of 1.1186 (61.8% Fibo of the 2017-2018 up move) would target 1.1212 (55-day SMA) en route to 1.1282 (high Jul.19). On the flip side, immediate contention emerges at 1.1113 (10-day SMA) followed by 1.1051 (low Aug.23) and finally 1.1026 (2019 low Aug.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 US-China trade war makes Bitcoin more attractive FX Street 4 years EUR/USD adds to Friday's gains near 1.1150. Attention stays on US-China trade concerns. German IFO, US Durable Goods Orders next of relevance. The buying interest around the single currency remains well and sound so far on Monday and is now lifting EUR/USD to fresh 2-week highs near 1.1150. EUR/USD looks to trade, yields The pair is adding to Friday's gains and looking to consolidate the recent breakout of the key barrier at 1.1100 the figure, always on the back of increasing trade tensions between the US and China and despite some recovery in the buck. The upside momentum in spot… 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.
