The euro went up to around 1.1640 the day before, as people stopped buying the U.S. dollar for safety. But during Tokyo trading yesterday, traders adjusted their positions, and the dollar was bought again, pushing the euro down to 1.1591.
Later, in New York trading, new home sales data in the U.S. was weaker than expected. This caused people to sell the dollar, and U.S. long-term interest rates also went down. As a result, the euro rose and broke above the previous high to reach 1.1664. Many thought a double top would form, but the euro went above it.
However, the dollar selling may be ending soon. Also, there are worries about trade talks between Europe and the U.S. If the euro cannot stay above the recent high, it may fall again.
EUR/USD expected price range: 1.1580 – 1.1680
Note: The information above does not guarantee profits. Please make your own decisions when trading.