EUR/USD is on the move, trading some 80 pips higher on the day and at the highest levels since November, a six-month high. The pair is flirting with the resistance level of 1.1050, which served as support back in August. More importantly, the pair is reaching the top of the uptrend channel. Since the very beginning of 2017, the pair has been making higher lows and higher highs. From the trough of 1.0340, we have seen the gradual uptrend. And today, this uptrend channel stands at 1.1060. Will it make or break? Here is the chart, and it is followed by the arguments for a break higher. Fundamentals support a break EUR/USD is at the highest since Donald Trump was elected. And the latest Russian scandal is one of the 5 reasons for the break higher in EUR/USD. Some doubt the President’s ability to govern. While the issues about Russian involvement in the elections or handing classified information to Russia on ISIS do not interest markets on their own, these distractions divert the attention from any reforms. Politics in the euro-zone is in a better place, at least for now. The new French President Emmanuel Macron is pro-market and his meeting with German Chancellor Angela Merkel was successful. Also, the economic fundamentals favor the euro: the euro-zone economies. The euro-zone economies grew at a faster rate than the US economy. Doubts about the next US rate hike are countered by hopes for the end of QE in the eurozone. So, the fundamentals support a technical break above the channel. What do you think? 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next USD: Key FX Themes For 2017 Are All Working Against Yohay Elam 6 years EUR/USD is on the move, trading some 80 pips higher on the day and at the highest levels since November, a six-month high. The pair is flirting with the resistance level of 1.1050, which served as support back in August. More importantly, the pair is reaching the top of the uptrend channel. Since the very beginning of 2017, the pair has been making higher lows and higher highs. From the trough of 1.0340, we have seen the gradual uptrend. And today, this uptrend channel stands at 1.1060. Will it make or break? Here is the chart, and it is followed… 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.
