On Friday, the market did not receive important statistical information and the markets traded under influences of previous drivers and sessions.
Yesterday, the market ignored weak data on European inflation and strong report of the American regulator (Beige Book), despite the seemingly so negative background for the European currency, the pair EUR / USD continued to slightly gain. Yesterday's trading session the pair closed at 1.2374, the highs of the day are located in the zone of almost 1.24.
Yesterday, the data from Germany and the euro area turned out to be negative, data on sentiment in the business environment from ZEW Institute.
Yesterday, during EUR/USD growth, there were attempts to break through resistance 1.2377, but as technical analysis predicted in advance, the chances of success were low, the attacks of the bulls were repulsed and the upward momentum was exhausted.
On the fundamental news front, yesterday the support of the European currency was triggered by the words of the official representative of ECB Novotny.
The weakness of USD dollar reinforce the upward movement of EUR / USD pair.
On the market of EUR / USD there were no special changes over the weekend. Last Friday, USD dollar weakened against the background of weak data on the US labor market. In addition,
The weakness of the European currency continued today.
Well, on Tuesday, the decline in the European currency continued.
The beginning of the new week is characterized by increased pressure on the European currency amid the continued growth of USD dollar.