The Euro fell after the release of the us statistics
In the European trading, the us dollar rose against most currencies. Against the background of growth of the dollar, the Euro fell to $1,2346, the pound – to $1,3921, the franc – to $0,9664.
After yesterday’s dovish comments of the ECB President, Mario Draghi, the common currency is easier to move down than up. Before the release of U.S. data the pair fell to the trend line. Very bad when the price stops at important levels before the news, because after they come out potential false breakouts of the levels and triggering steps.
The United States published weekly data on applications for unemployment benefits, which were better than expectations and amounted to 226 thousand (consensus: 230K). The previous value was revised decline of 1 thousand to 230 thousand
The indicator has a medium importance for the dollar, but since next week will be a meeting of the Federal reserve, market participants are very sensitive to any emerging macroeconomic data.
In addition, traders and investors are concerned about the possibility of starting trade wars, therefore, are closely watching the news from the White house. On the news the Euro exchange rate has broken trend line, falling to $1,2336. Price is trading in the range of 13 March ($1,2315 – $1,2408).
The first hours of the American session is very volatile, so it is impossible to say that after the breakout line price will move further down. Dollar to all currencies in positive territory, with the exception of the yen. If you look at the crosses with the Euro, there are mixed dynamics, and the main cross EUR/GBP is trading on the upside. And it is fraught with a sharp bounce up, so you think that the price will go lower, and it can quickly come back because of the growing crosses.