EUR/USD finds support around the 1.1650, holds a bearish tone. After Trump/Junker meeting and ECB, attention turns to US Q2 GDP. The EUR/USD pair bottomed at 1.1648, the lowest level in six days. The recovery from the lows was short-lived and price remains near the low, down 70 pips for the day, having the worst performance in almost a month. The main driver was the strength of the US dollar. During Draghi’s press conference after the ECB meeting, the euro weakened but the managed to recover part of its losses. The central bank announced nothing new as expected and markets remained muted. The main theme continues to be the global trade war lead by Donald Trump but tomorrow attention will turn again to US data. The first estimate of Q2 growth is due. Recent comments from US official suggest that the rate will be near 5%, above market consensus (4.1%). Technical levels The pair has formed a potential double top in the very short-term near the 1.1750 area. In that scenario, EUR/USD broke the neckline after the ECB meeting and the bearish target lies slightly below 1.1600. To the downside, the immediate support is seen at the 1.1650 area, followed by 1.1635 and 1.1600. On the upside, resistance could be located at 1.1675, 1.1705 and 1.1725/30. 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 AUD/USD: surpressed by the 50-D SMA, trade talk and investors await US GDP FX Street 5 years EUR/USD finds support around the 1.1650, holds a bearish tone. After Trump/Junker meeting and ECB, attention turns to US Q2 GDP. The EUR/USD pair bottomed at 1.1648, the lowest level in six days. The recovery from the lows was short-lived and price remains near the low, down 70 pips for the day, having the worst performance in almost a month. The main driver was the strength of the US dollar. During Draghi's press conference after the ECB meeting, the euro weakened but the managed to recover part of its losses. The central bank announced nothing new as… 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.
