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Most major currencies have already bounced higher against the U.S. dollar as news of Trump’s impeachment broke out, but it seems that European currencies have yet to catch up.

Currency Snapshot:

Major Forex Pairs Performance from MarketMilk
Major Forex Pairs Performance from MarketMilk

Fresh Market Headlines & Economic Data:

Upcoming Potential Catalysts on the Forex Calendar:

  • German GfK consumer climate at 8:00 am GMT
  • French consumer spending at 8:45 am GMT
  • U.K. current account balance at 10:30 am GMT
  • BOE MPC member Haskel’s testimony at 12:00 pm GMT
  • U.K. Parliament to vote on PM Johnson’s Brexit deal (again!)

What to Watch: EUR/USD

EUR/USD 1-hour Forex Chart
EUR/USD 1-hour Forex Chart

This pair is still consolidating inside a descending triangle pattern on its short-term chart and could be gearing up for an upside break in the session.

There’s not much in the way of top-tier reports, but medium-tier releases like the German GfK consumer climate index and French consumer spending data might spur a bit of volatility.

Moving averages confirm a bullish trend for this pair:

EUR/USD Moving Averages from MarketMilk
EUR/USD Moving Averages from MarketMilk

Take note, however, that EUR/USD tends to go beyond its average daily volatility on Fridays. A buy stop order around the 1.1135 level with a stop of 60-70 pips could be enough to withstand any price swings.

EUR/USD Volatility from MarketMilk
EUR/USD Volatility from MarketMilk