Free Trial

EUR/USD remains in consolidation mode...>

EURO-DOLLAR: EUR/USD remains in consolidation mode following Monday's remarks
from ECB President Draghi, which although upbeat, provided little fresh insight.
ECB's Nowotny also added little new on the MonPol front on Monday. The pair last
deals at ~$1.1750.
- Having confirmed a bullish breakout last week (See MNI Analysis email July 6
16:07BST), a break and hold above $1.1800 is required to challenge the
$1.1850/55 area which represents the 38.2% retracement of the move from $1.2414
to $1.1509.
- German ZEW, ECB's Visco/Italian EconMin Tria & ECB's Lautenschlaeger provide
the risk events for EUR traders on Tuesday.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.