EUR/USD CONFINED IN A NARROW TRADING BAND NEAR WEEKLY TOPS

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Join date: 2016.11.11
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The EUR/USD pair consolidated its sharp recovery move from Wednesday's multi-week lows and was confined in a 15-20 pips narrow band around multi-day tops near 1.0670-75 bands.

Despite of the recent upbeat US economic data, including a trio on Thursday, and growing prospects for an eventual Fed rate-hike action, the greenback has struggled to gain any fresh traction as investors remained cautious and awaited more details on tax plans. 

With no relevant fundamental triggers, in-terms of major market moving economic releases, the US Dollar price dynamics would remain an exclusive driver of the pair’s movement on Friday.

Currently the exchange rate of EUR/USD pair is 1.0673.

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Sell as the EUR/USD forex pair is going down in Forex Market.

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