This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
Equity markets were seen trading flat, a day after rising to fresh highs.
President Trump stated that the US-China trade talks were progressing faster than initially thought. This grew investor appetite for risk.
Economic data on the day saw the Conference Board’s consumer confidence index coming below forecasts. The index fell to 125.9 following a revision for the previous month to 126.3.
Euro Trades Mildly Bullish
The lack of economic data from the eurozone and sparse data from the United States saw the euro lacking direction.
Trading was largely subdued with most of the flows coming out of the US data. A line of big-ticket events today will likely change that.
EURUSD Holds on to Support – Will it Bounce Higher?
The currency pair was seen retesting the support area of 1.1075 – 1.1062. This marks the correction to the downside after price rallied to highs of 1.1177 – 1.1193.
Following this retest of support, we expect the bias to be to the upside. Price action will likely struggle as ...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.