EUR/USD Review, January 6-10, 2020
06 января 2020
The currency pair had mixed fluctuations last week. EUR/USD’s growth was followed with a decline. The currency pair still stays above the ascending trend line.
US data was the main driver for those fluctuations. American Dollar had a downside tendency due to the weaker than expected US consumer confidence data as well as US manufacturing PMI ISM.
There will be some labor market releases this week in the United States. They will determine the tendency in the next five days. EUR/USD is likely to develop the uptrend as it stays above the ascending trend line. However, if it breaks the trend line down, we expect EUR/USD to test the closest support at 1,1068.
