EURUSD trading activities news in Forex market
2/19/2018 11:15:06 AM
The EURUSD pair rapidly retreated an early European session dip to sub-1.2405 level and bounced back around 27-33 pips from session lows, although tried to improve the recoil.
The pair extended its Asian session retracement slide from 1.2437 level and slipped to an intraday low level of 1.2393 amid a modest pickup in the US Dollar demand, which is now beginning to attract some buyers at lower levels on the back of rising prospects for possibly four Fed rate hike moves in 2018.
From a technical viewpoint, the pair's repeated disappointments to improve above the key 1.2503 psychological mark.
On a constant decline below the 1.2405 handle, the pair is probable to speed up the slide towards 1.2377 intermediate support before finally falling to 1.2337 zone and the 1.2303 handle. In the meantime, on the upside, any meaningful bounce might now provoke fresh supply near mid-1.2405s, above which bulls might make a fresh effort towards conquering the 1.2510 handle.
FOREX market analysis by FxErvin.