Euro-dollar fell somewhat in the aftermath of slightly stronger American inflation but with relatively low volatility. The expected policy of the central banks in the coming months prefer the dollar, but the impact of the trade war is more ambiguous.
With $ 1.02 and $ 1.05 that look like important support areas and resistance respectively, EUNUD can fall into a lateral trend, which is a fairly normal situation for a large Forex pair. The slow stochastic is closer to neutral than sold over and there is no saturation signal from Bollinger tires.
Although on 3 February after the gap of that weekend there was a big peak to buy the volume, there was not much momentum after that, except to close the gap. Traders are now looking ahead to various European releases, including German inflation and jobs in the eurozone and GDP, followed by Zew Sentiment on 18 February.
This article was submitted by Michael Stark, an analyst at ExentExent.
The opinions in this article are personally for the writer. They do not reflect those from Exness or FX -Rijk.