The EUR/USD pair jumped from daily lows under 1.1000 to test the 1.1045/50 area following the latest Brexit headlines and a decline of the US Dollar across the board. Brexit and a weaker US Dollar Bloomberg reported the United Kingdom and the European Union were near a draft deal, likely to be completed in hours. Later, EU officials and Ireland Prime Minister Varadkar mentioned that it was too premature to talk about a deal in time for the EU summit. The Pound rose sharply across the board and it also boosted the Euro that also benefited from the improvement in risk sentiment and the rally in EUR/CHF. The US Dollar dropped sharply against its main rivals, excluding the Japanese Yen. The DXY dropped from 98.60 to 98.20, hitting a fresh daily low. Euro recovers key technical levels The pair was trading below a key short-term uptrend line (1.1000) and with the recent rebound, it climbed back above, easing the bearish pressure. It tested the 1.1045 area but so far it is unable to break higher. A confirmation on top of 1.1050 would expose last week’s high located at 1.1062. On the flip side, a slide under 1.1030 could likely push the Euro back into the defensive. Below the 1.1000/05 area would be back on the radar; a consolidation below would invalidate the current ascendant channel leaving EUR/USD vulnerable to more losses. 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 Gold slumps to $1,480 area on Brexit hopes FX Street 4 years The EUR/USD pair jumped from daily lows under 1.1000 to test the 1.1045/50 area following the latest Brexit headlines and a decline of the US Dollar across the board. Brexit and a weaker US Dollar Bloomberg reported the United Kingdom and the European Union were near a draft deal, likely to be completed in hours. Later, EU officials and Ireland Prime Minister Varadkar mentioned that it was too premature to talk about a deal in time for the EU summit. The Pound rose sharply across the board and it also boosted the Euro that also benefited from the… 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.
