EUR USD Trading News in Forex market 3
7/7/2017 2:22:18 PM
The EUR/USD pair expands its upside merging stage into Europe, having found some buyers just ahead of 1.1403 handle during the Asian session.
Having failed quite a few efforts to take-out 4 day tops of 1.1428 in Asia, the main currency pair floated somewhat lower and turned negative among broad based USD recovery.
The pair's latest leg of up-move from the 1.1311 locality, marking 38% Fibonacci retracement level of 1.1200-1.1490 up fluctuate, appears more probable to get expanded towards 50% Fibonacci extension level of the mentioned up-move and succeeding retracement. A follow-through buying interest should help the pair to reclaim the key 1.1505 psychological mark and aim towards testing its next major hurdle near 1.1537area.
On the shortcoming, some retracement back below the 1.1403 handle now appears to find maintenance near 1.1387 area, below which the pair could head back towards 1.1346 area on the way the 1.1307 round figure mark.
FOREX market analysis by FxErvin.