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Yesterday, the Euro gave all of the recent gains by dropping 70 pips from 1.1500. Currently, EURUSD is trading at around 1.1430 and we see it as a good price for buyers to come. Traders will eye Fed's interest rate decision that is scheduled for 19:00 GMT later on today. The Fed is likely to keep rates unchanged.
The Euro was trading high in Asia on fears of split Congress in the US. EURUSD finally breaks through 1.1450 and we might see it closing higher on the day. On a light calendar in Europe, this week traders will base their decisions on price action and upcoming political news from the US.
BoJ's Kuroda signals policy normalisation as Bank of Japan will scrutinize developments. USDJPY is close to recent resistance 113.20 that could push the pair lower in the near terms. A close above 113.30 might send USDJPY on the up-move supported by strong US monthly job report.
The Euro is trading on the upside at around 1.1420 after a strong bounce from 1.1300 level that might see the pair closing above 1.1450 this week. It will be a busy day ahead with the release of US employment data and Average Hour Earnings report that is scheduled for 12:30 GMT later on today.
The Euro recovered from the lows of 1.1300 and is heading now towards 1.1400 where it will eventually retrace some of the recent gains. The reports about Brexit deal on financial services boosted the British pound and the Euro both. Today release of US Manufacturing PMI will be looked for some short term trading impetus.
Ahead of a very busy day, the British pound is trading at around 1.2880 with potential to reach 1.2920 level. The Bank of England is likely to keep the interest rates unchanged because of looming Brexit uncertainty. Traders will also keep a close eye on Carney's speech that is scheduled for 12:30 GMT.
A slowdown of the Eurozone GDP pushed the Euro lower to 1.1336 level, the bearish case might continue today if the US unemployment data beats estimates. Traders will also eye the upcoming inflation data from the Eurozone which release is scheduled for 10:00 GMT later on today.
Japan's Unemployment Rate beat the market's expectations and improved in September by sticking close to all-time low of 2.2% rate. USDJPY is close to resistance level which might result in short term pullback targeting 112.00 level for our daily trades.
The Euro is trading down below 1.1400 ahead of a busy day in Europe. The market eyes Eurozone GDP figures and Germany inflation data which is scheduled for 13:00 GMT. A positive data from the EU might ease the bearish pressure around the shared currency.
USDJPY is consolidating between 111.90 - 112.00 with both scenarios on the cards. A drop below 111.80 could push the pair further down, but it is also possible to bounce and target 112.30 level. Trump's criticism of the Fed's policy will likely backfire and the U.S. dollar could benefit.
The Euro is flying south since mid October, Merkel's party drop in voters might not help the common currency. The political uncertainty in Germany could drag the Euro further down after we witnessed some decent recovery on Friday.
The Euro is trading at 1.1370 after yesterday reached its lowest level since August, as largely expected, the ECB decided to leave rates unchanged. Today, focus will be on the U.S. GDP data which release is scheduled for 12:30 GMT.
Yesterday, the bounce of 1.1450 level did not happen and the pair slumped below 1.1400 with deeper plunge on the cards today. The selling pressure accelerated with increased U.S. dollar demand and fragile political environment in the EU.
Today, traders eye the releases of EU manufacturing and services PMIs to get some fresh trading ideas. The Euro has established itself on the 1.1450 support level and we would expect to see another bounce. We would buy EURUSD targeting 50 pips profit.
The Euro slips below 1.1450 in late Asia session, the common currency is currently trading at around 1.1440 and we would expect some recovery on the upside. With no major events on the calendar today, traders will focus on the price action once again.
The Euro looks more likely to extend the downfall with the Italian budget deficit continues to weigh. On the other side the U.S. dollar continues to benefit from growth and positive interest rate outlook. In our scenario for today EURUSD will test 1.1400 level and will eventually close higher with New York close.
The Euro is trading near 1.1550 ahead of Eurozone inflation data that is scheduled for 09:00 GMT later today. Traders will also focus on the FOMC minutes to get some insights into future interest rates decisions in the US. We are looking to go long on EURUSD targeting 50 pips profit with possible pullback at 1.1630 level.
USDJPY is on important level and could go either way but with US session closing hours we feel more going south. The U.S. industrial production remained solid in September with no significant impact from Hurricane Florence but a slowdown is expected in the following months.