In the European session, the euro rose to 1.1340 because U.S. long-term interest rates went down. However, in the New York session, the euro started to fall. This happened after the U.S. ISM Manufacturing Index came out better than expected and NEC Chairman Hassett said, “Talks with China are going well.” These things made U.S. interest rates rise, and the euro dropped.
The euro stopped falling around 1.1266, which is the center line of the Bollinger Bands.
Because people are now less worried about tariffs, the euro, which was bought as a safe alternative to the dollar, may start to be adjusted (sold). Traders are now waiting to see the result of today’s U.S. jobs report to decide the next move.
Expected EUR/USD Range: 1.1330 to 1.1150 (50%)
Note: This information does not guarantee profits. Please make your own decisions when trading.