Market News & Analysis
[Video] 1.10 Remains Pivotal For EUR/USD Around Trade Talks | DXY, EUR/USD
Matt Simpson October 11, 2019 5:43 AM
1.10 remains a key level for EUR/USD traders as we head towards the weekend. Reports that trade talks are “going well” and the possibility of a partial trade deal could be agreed between US and China saw safe-haven demand for the dollar decline, sending the USD index to key support and EUR/USD above key resistance. In fact, EUR/USD has broken out of its bearish channel and shows the potential for a bullish continuation pattern on the lower timeframe.
But ultimately, it all comes down to how trade talks are presented which could impact which side of 1.10 EUR/USD closes on today. If the goods are produced and markets are satisfied with the terms of a partial trade-deal, further upside for Euro appears likely. At least over the near-term. Yet if it turns out to be yet another round of hot air and hype, we could easily see yesterday’s moves reversed to send EUR/USD crashing back below 1.10.
Trade Talk Sentiment Supports The Kiwi | NZD/USD
Trade Headline Hype Sees Risk Spike | SPX, AUD/JPY
AUD/USD in focus amid US-China trade talks and ahead of US CPI
Trump Admin Blacklists Another 28 Chinese Firms Ahead Of Trade Talks | Ambarella, FedEx
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.