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Tuesday, November 28th


The EUR/USD pair came out of its consolidation phase this morning, having dropped below the level of 1.1900 on the back of attempts of the US dollar to extend yesterday’s recovery trend. However, the spike was short-lived and the pair regained its positions above the level of 1.19, as markets remain cautious ahead of the speech of the next Fed Chair Jerome Powell. Investors await that Mr. Powell’s testimony could shed some light on how he intends to run the central bank. On the other side, positive comments regarding possible compromise in German politics help the common currency to keep its upbeat tone, which in turn positively affects the pair. Besides Mr.Powell’s testimony, investors will pay attention to the US CB consumer confidence for fresh trading opportunities during the NA session.

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Thursday, November 30th

The EUR/USD pair failed to keep positive tone in early Europe and dropped to session lows, marked in the region of 1.1810, despite better-than-expected data reports from German labor market. The main reason of pair’s retreat remains ongoing recovery of the US dollar, which is dominating the market lately. Moreover, seems that markets have already passed over recent positive news from German political field, while sharp drawdown of the euro in the cross with the pound is still weighing the common currency across the boeard. Looking ahead, since the report from the German labor market was the only important data release for today, the broad market sentiments and the US dollar dynamics will remain the key driving factors for the pair during this trading session.

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Friday, December 1st


The EUR/USD pair extends its upside trend for the third session in a row, keeping its positions above the level of 1.19 at the last working day of the week. Yesterday the greenback came under fresh selling pressure after the Senate delayed a vote on the highly anticipated US tax cut legislation, which, in turn, had a positive effect on the major currency pair. Moreover, seems that the retreat of the euro in the cross with the pound, caused by optimism surrounding Brexit, eased somewhat that also remains positive factor for the shared currency. Looking ahead, today the US will publish ISM manufacturing PMI report, which will likely hog the limelight during the NA session, while any price actions of the US dollar will remain as the key determinant for the pair during this trading session.

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Monday, December 4th

The EUR/USD pair remains under bearish pressure, as optimism around the greenback dominates the market on Monday. Recently the US Senate approved the tax overhaul bill that brings much awaited tax cuts a step closer to their implementation. Moreover, fading uncertainty surrounding US President’s connection with Russia is also offering some support to the greenback. According the latest information, reports about Russia's involvement in the 2016 presidential election appeared faulty. On the data front, today both economic calendars won’t offer anything interesting, so the pair will keep tracing broad market sentiments and USD price dynamics to determine its further trajectory.

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Tuesday, December 5th

The EUR/USD pair regained bearish tone in early Europe, as the greenback caches fresh bids on Tuesday. Yesterday the pair managed to recover some losses on the back of corrective slide of the US dollar, however, the correction did not last long, as US bulls are still full of steam. On the other hand, further retreat of the pair may appear capped, as strong gains of the euro in the cross with the pound, backed by renewed uncertainty over the Brexit deal, are providing some correlational support to the main currency pair. Looking ahead, today the EU calendar will offer only secondary data reports, leaving the pair at the mercy of greenback price dynamics, while the US will publish the ISM Non-Manufacturing PMI data, which will be able to lend some short-term directional impetus later today.

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Wednesday, December 6th

The EUR/USD pair failed to keep its yesterday’s recovery trend and once again came under selling pressure, moving closer to its 2-week lows, marked near the level of 1.1800 a day before. Renewed pair’s weakness is mainly attributed to attempts of the US dollar to recover its positions after yesterday’s drawdown, which was triggered by dovish remarks of Fed member Charles Evans, who offered not to rush on Fed monetary policy tightening. However, fresh wave of risk aversions amid the latest North Korea headlines provided some support to the euro and as a result limited pair’s retreat. Today all traders’ attention will be focused on the US ADP report, which will provide investors with clues on what to expect from the key event of this week – NFP date release.

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Friday, December 8th

The EUR/USD pair keeps navigating southwards for the fourth session in a row, remaining within striking distance of its 2-week lows, marked in the area of 1.1740. Increased demand for the US dollar remains one of the key navigators across amid investors' expectations that long-awaited US tax reforms will be implemented by the end of this year, which, in turn, negatively affects the pair on the last day of this working week. Moreover, strong drawdown of the euro in the cross with the pound on the back of progress in the Brexit negotiations exerts additional correlation pressure on the single currency across the market. On the data front, today all eyes will remain on the data from the US labor market, which will be able to shape up the tone of the US dollar ahead of next week’s Fed meeting.

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Monday, December 11th

The EUR/USD pair remains better bid at the start of this week on the back of broad weakness of the US, as mixed data from the US labor market failed to cheer up US bulls. Despite the fact that the main indicators of employment in the US were positive, the results for the previous month were revised in the negative direction, which became the main factor of the retreat of USD. However, further upside of the pair looks fragile, as we are heading towards FOMC monetary policy decisions that forces investors to readjust their trading strategies, taking into account possible sharp spikes of volatility. On the data front, today European data calendar will remain broadly silent, while the US will publish another report from the labor market, which will help the pair to determine its further direction during the NA session.

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Friday, December 15th

The EUR/USD pair regained its positive tone, moving closer to the level of 1.1800, after moderate retreat, provoked by dovish comments of the ECB President M.Draghi. On Thursday, the ECB left its interest rate unchanged, while revising its forecast for inflation and GDP to the upside. However, the pair failed to gain further positive traction after ECB press conference, where Bank’s President M.Draghi reminded about potential downside risks for inflation in the Eurozone. However, ongoing post-FOMC weakness of the US dollar is still dominating the market, allowing the pair to regain some position at the last working day of this week. Today, in absence of any important data releases, the pair will continue following broad market trend, caused by recent CB’s decisions.

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Monday, December 18th

The EUR/USD pair paused its 2-day retreat and now is navigating towards the level of 1.1800. On Friday, the pair came under strong selling pressure, slipping below the level of 1.1750, on the back of news that the US Senate is expected to pass the vote on tax reforms this Tuesday and President Donald Trump is aiming to sign the bill by week’s end. However, the US dollar was unable to consolidate its positions and corrected lower at the beginning of this week, allowing the pair to recover some pips. Now all investors’ attention remains focused on the EU CPI report, which is the only important data released for today, so the US dollar price dynamics will assume as the main navigator for the pair this Monday.

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