Following the U.S. market drop the day before, the euro stayed strong from Tokyo to the European market and rose to 1.1344. However, new economic data from Germany and the Eurozone was worse than expected. This made people worry about a weaker European economy, so they started selling the euro.
As fears about the U.S. economy calmed down, people started buying the dollar again. Because of this, the euro dropped to 1.1256 in the New York market and could not reach 1.14.
Still, the euro did not fall too much, because many are still worried about the U.S. economy after a big tax cut bill was passed in the U.S. House of Representatives.
Euro-Dollar Expected Price Range: 1.1220 – 1.1320
Note: This is not a guarantee of profit. Please make your own decisions when trading.