Today’s session is relatively quiet because few markets in Europe (Germany, France, Switzerland) are closed for holiday.
During this session we can see that the euro has recovered against the u.s dollar. After the price formed a chart pattern - double top. But the chart pattern ended up not being executed.
The bullish momentum has recovered and the price is again approaching the upper limit of the double top.
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Eur/usd, 1 hour time frame chart. Source: xStation 5
If we look at the US dollar index (USDIDX), on a 4 hour time frame chart we can see that the price has been traded in sideways.
USDIDX, 4 hours time frame chart. Source: xStation 5
NZD is the best performing major currencies while CAD lag the most
Source: currency-strength.com
Henrique Tomé, XTB Portugal
