There are that the ECB meeting and press conference two major events intended for Wednesday with Mario Draghi, along with the book of the FOMC minutes from March. It’ll be a rather volatile trading day if we add some Brexit headlines to the mix.
On Monday the 8th of April, trading over the euro closed up. The bulls initially broke through the resistance at 1.1240 with some help from the crosses. In the US semester, this rise gathered rate to reach 1.1274. Dealers are waiting to get a trade deal between the US and China to become finalised, as well as for outcomes using a Brexit vote. The worst case scenarios have been factored into the price. Long places on the dollar are being closed ahead to get their March meeting of the FOMC minutes’ publication.
Bulls have busted through the opposition zone of 1.1250 — 1.1254 on the rear of a weak dollar. The euro is currently trading at 1.1270 against the greenback. The bulls are trying to press ahead, but the currency is under pressure, considering the euro strikes trading down except EURCHF.
The calendar is vacant today, so I’m expecting a retest of yesterday’s immunity for a support. The price is coming the aid from over from altering it up along the channel that is upward and there’s nothing stopping the bulls.