On the last Fed’s meeting minutes US dollar rallied. There are many headlines that continues to weigh on the US dollar. One of the headlines is connected to the guilty plea of Trump’s former lawyer Cohen weighs on the presidency, as he implicates president Trump in crime activities. Currently the president Trump lashed out on his former lawyer. Also, in future we could see the US dollar weakening.
EUR/USD dropped yesterday and today is breaking the upward trend-line (during Asian session), aiming for the 1.1537 support line. On one side, we could see its price action aiming for the 1.1623 resistance line. On the other side, we could see it breaking the 1.1537 support line and aim for the 1.1482 support barrier.
United States of America won’t make any concessions to Turkey in order for the latter to release US citizen. Trump said that he wasn’t concerned that higher steel and aluminium tariffs imposed on Turkey would have a negative effect on Europe. USD/TRY remained relatively unimpressed on Monday, but further developments could give rise to volatility.
USD/TRY continued to trade in a sideways manner yesterday between the 5.9500 support line and the 6.2800 resistance level. If the pair comes under selling interest we could see it breaking the 5.9500 support line, while should it find fresh buying orders along its path we could see I breaking the 6.2800 resistance level.
The US dollar weakened even more from the past headlines. Donald Trump said that ump stated in an interview that he is not thrilled with the Fed hiking rates. He also said that Fed should do more to help him boost the economy. Europe and China of manipulating their own currencies – accused by Trump. We could expect for US dollar weakened even more in future, if we get some highlights.
EUR/USD rallied yesterday and during Asian session, breaking the 1.1482 resistance line and testing the 1.1537 resistance level. We could see the pair breaking the 1.1537 resistance line and aim for the 1.1623 resistance level. On the other side, we could see the pair breaking the 1.1482 support line.