forex trading course - EURUSD dollar strength 2 days in a row

The USD has climbed for a second consecutive day as negative sentiment continued to weigh heavy on risk appetite. Equity markets in Europe have struggled, and after EURUSD broke through downside support at 1.4250 overnight, the pair has continued to trade heavily, touching lows of 1.4126. In parallel, gold has broke through its near term support level of $1130 to trade down to $1120.45, but we expect prior buying interest at $1119 to provide some respite to the sell-off. [caption id="attachment_343" align="alignleft" width="202" caption="Forex trading course jan 20 dollar strength"][/caption] During the morning session, the UK ILO unemployment rate surprisingly fell to 7.8% (exp: 8.0%, prev: 7.9%), but the GBP failed to find much buying interest on this news. Also released were the minutes of the recent BoE meeting; as expected, there was a unanimous 9-0 vote to keep rates on hold and maintain the asset purchase target at GBP200bn. Furthermore, the statement explained that recent developments had not substantially changed the BoE's view on the medium term outlook, and instead, they would wait until the release of the February Inflation Report to get a clearer assessment of the factors affecting the economy. During the afternoon, Canadian CPI disappointed at -0.3% MoM (-0.1% expected, 0.5% prior), forcing USDCAD to push through 1.0450 resistance, touching a high of 1.0487. US housing starts and building permits were mixed on the whole, but the net result has seen further USD buying into the USequity market open. Tomorro [...]

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