The International Monetary Fund (IMF) on Monday announced its board decision to amend the rounding methodology for determining currency accounts in the Special Drawing Right (SDR) basket, in order to make technical preparations for the inclusion of the Chinese currency, Renminbi, in the SDR basket.
The EURUSD pair initially fell during the day on Monday, but turned around to slam into the 1.10 level again.
The EURUSD pair broke down below the bottom of a couple of hammers during the Friday session, so therefore if you we are getting ready to go even lower.
The EURUSD pair went back and forth during the course of the session on Thursday, as we continue to bounce around the 1.10 level.
The EURUSD pair went back and forth during the course of the day on Monday, as we continue to flood sideways.
EURUSD has been trading inside a range, moving between support at 1.1035 and resistance at 1.1150. Price is currently testing support at the bottom of the range and seems ready for a bounce back to the top.
EURUSD stays below the downward trend line on daily chart, and remains in downtrend from 1.1616.
The EURUSD pair broke to the upside during the day on Tuesday, but turn right back around to form a bit of a shooting star.
The EURUSD pair broke to the upside during the day on Tuesday, but turn right back around to form a bit of a shooting star.
EURUSD remains in downtrend from 1.1616, the rise from 1.0911 is likely consolidation of the downtrend.
