24 Aug 2015
EUR/USD jumps to 1.1700 after gaining 300 pips in hours
FXStreet (Boston) - The Dollar collapse continues and the Euro is taking profit of it with the EUR/USD trading at levels not seen since January 15 above 1.1700.
After jumping around 300 pips in the last few hours, the EUR/USD climbed from the 1.1400 area to trade as high as 1.1715. Pair is trading in the bullish side as investors are running out of USD positions following speculations that the Fed won't hike rates soon.
Risk aversion is the tone of the day with US stocks trading negative and ready to perform another ugly day. Gold remains in range just below 1,168.00.
Currently, EUR/USD is trading at 1.1650, up 2.33% on the day, having posted a daily high at 1.1715 and low at 1.1370. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.
EUR/USD levels
If the pair consolidates levels above 1.1700, it will find resistances at 1.1750, 1.1800, 1.1820. To the downside, supports are at 1.1600, 1.1550 and 1.1500.
After jumping around 300 pips in the last few hours, the EUR/USD climbed from the 1.1400 area to trade as high as 1.1715. Pair is trading in the bullish side as investors are running out of USD positions following speculations that the Fed won't hike rates soon.
Risk aversion is the tone of the day with US stocks trading negative and ready to perform another ugly day. Gold remains in range just below 1,168.00.
Currently, EUR/USD is trading at 1.1650, up 2.33% on the day, having posted a daily high at 1.1715 and low at 1.1370. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.
EUR/USD levels
If the pair consolidates levels above 1.1700, it will find resistances at 1.1750, 1.1800, 1.1820. To the downside, supports are at 1.1600, 1.1550 and 1.1500.