Trump sanction comment gives the EURUSD a shove lower
The EURUSD has cracked below its support at the 100 hour MA at 1.13084 level. Comments from Pres. Trump on possible sanctions to block the Nord Stream 2 pipeline project, has been cited as a fundamental catalyst for the move. Trump also said that Germany is putting itself at risk by relying on Russian oil. He is also threatening to take troops out of Germany and put in Poland (Germany our. Poland in).
The break is increasing the narrow 37 pip trading range for the EURUSD. It is now up to 53 pips. The 22 day average is 54 pips.
The pair is testing its 38.2% retracement of the move up from the ECB day low last week. at 1.1289. More important levels are down at the 1.1266-72 where the
- 100 day MA
- 200 hour MAs
- Trend line, and
- 50% retracement
are all found.