EURUSD reverses near 1.1300 after posting 2½-month high
482You jinxed it! Haha :?mlawson71 wrote: Sun Jun 09, 2019 12:21 am The pair is bullish, I think we will see it rally towards 1.1350 next week.
EUR/USD reverses near 1.1300 after posting 2½-month high
EURUSD reached a two-and-a-half-month high of 1.1347 on Friday as the pair exited from the medium-term descending channel in the preceding days, signaling further upside movement. Prices are currently developing near the 1.1300 handle and are remaining above the Ichimoku cloud and the 20-and 40-day moving averages.
Despite today’s pullback the bullish picture is further supported by short-term technical indicators. The MACD is strengthening its momentum above the trigger line, while the stochastic oscillator is entering overbought territory.
To the upside, immediate resistance could come at the 1.1325 area, taken from peaks on April 12, while above that, the next major resistance to watch is the 38.2% Fibonacci retracement level of the downleg from 1.1815 to 1.1106 near 1.1380.
Should prices reverse lower, support could be faced at the 1.1275 barrier, which is the 23.6% Fibonacci mark. Slightly lower, the 1.1260 area could be penetrated before the pair heads towards the moving averages, currently around 1.1200.
To sum up, the short-and medium-term picture shifted from bearish to bullish after the violation of the downward sloping channel and the 1.1300 psychological level. Traders should turn their attention to the upside if there is a jump above Friday’s peak.
Source: https://www.fxstreet.com/analysis/eurus ... 1906100702
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Re: EUR/USD
483Don't I always? :?ChuChu Rocket wrote:
You jinxed it! Haha :?
EUR/USD reverses near 1.1300 after posting 2½-month high
EURUSD reached a two-and-a-half-month high of 1.1347 on Friday as the pair exited from the medium-term descending channel in the preceding days, signaling further upside movement. Prices are currently developing near the 1.1300 handle and are remaining above the Ichimoku cloud and the 20-and 40-day moving averages.
Despite today’s pullback the bullish picture is further supported by short-term technical indicators. The MACD is strengthening its momentum above the trigger line, while the stochastic oscillator is entering overbought territory.
To the upside, immediate resistance could come at the 1.1325 area, taken from peaks on April 12, while above that, the next major resistance to watch is the 38.2% Fibonacci retracement level of the downleg from 1.1815 to 1.1106 near 1.1380.
Should prices reverse lower, support could be faced at the 1.1275 barrier, which is the 23.6% Fibonacci mark. Slightly lower, the 1.1260 area could be penetrated before the pair heads towards the moving averages, currently around 1.1200.
To sum up, the short-and medium-term picture shifted from bearish to bullish after the violation of the downward sloping channel and the 1.1300 psychological level. Traders should turn their attention to the upside if there is a jump above Friday’s peak.
Source: https://www.fxstreet.com/analysis/eurus ... 1906100702
All jokes aside though this is just a pullback and the week is just beginning. We'll see.
Re: EUR/USD
484You may be right after all, there is something of a double top around 1.1345, and if that holds there may be another move to the downside.
EURUSD is consolidating - Commerzbank
485They reckon it's consolidating now but I think you were right, it will head to the upside again by the end of this trading week bromlawson71 wrote: Thu Jun 13, 2019 12:35 am You may be right after all, there is something of a double top around 1.1345, and if that holds there may be another move to the downside.
EUR/USD is consolidating - Commerzbank
In view of Karen Jones, analyst at Commerzbank, EUR/USD pair has been consolidating following its break of the 2018- 2019 downtrend and is holding below the 200 week ma at 1.1347 and the 200 day ma at 1.1362.
Key Quotes
“Yesterday’s price action was an outside day to the downside and further consolidation looks likely. To really ignite upside interest, we suspect a close above here is needed to target initially the 1.1570 2019 high. Dips lower are indicated to hold at 1.1255/30 and will ideally be contained by 1.1175. We regard recent lows at 1.1110/06 as an interim turning point.”
“Support at 1.1110/06 is regarded as the break down point to the 2018-2019 support line at 1.1027 and the 1.0814 78.6% Fibonacci retracement.”
Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/eur-usd-i ... 1906130545 (Article)
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EURUSD Technical Analysis: The pair is eroding the multi-month support line in the 1.1280 area
486EUR/USD Technical Analysis: The pair is eroding the multi-month support line in the 1.1280 area
EUR/USD daily chart
Source: https://www.fxstreet.com/news/eur-usd-t ... 1906140806
- Following Wednesday’s bearish ‘outside day’, EUR/USD came under pressure and is now re-testing the key multi-month support line and the 100-day SMA in the 1.1270/80 band.
- In case bulls regain the upper hand, recent tops in the mid-1.1300s should be back on the radar ahead of the more relevant 200-day SMA in the 1.1360/65 band.
- If the downside pressure intensifies, the 55-day and 21-day SMAs in the 1.1220 zone should offer initial contention.
EUR/USD daily chart
Source: https://www.fxstreet.com/news/eur-usd-t ... 1906140806
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Re: EUR/USD
488It stopped at 1.1200, I guess we will find out next week whether there will be a breakout below that level.
EURUSD: Guided by the central banks – Danske Bank
489EUR/USD: Guided by the central banks – Danske Bank
Vladimir Miklashevsky, senior economist at Danske Bank, notes that the EUR/USD rose when ECB failed to satisfy a dovish priced market two weeks ago as ECB needs a weaker EUR and Draghi could try to right the market, when he opens the annual Sintra conference today, or more likely tomorrow morning in his introductory remarks.
Key Quotes
“At this stage we do not think words will be able to move EUR/USD – the market is looking for actions. On this regard, the FOMC meeting Wednesday will be the more important monetary policy event for EUR/USD this week as we look for Fed to prepare the market for a July cut. In turn this should pave the way for EUR/USD to move to 1.15 in 3M and outperform FX forwards.”
Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/eur-usd-g ... 1906171136 (Article)
Vladimir Miklashevsky, senior economist at Danske Bank, notes that the EUR/USD rose when ECB failed to satisfy a dovish priced market two weeks ago as ECB needs a weaker EUR and Draghi could try to right the market, when he opens the annual Sintra conference today, or more likely tomorrow morning in his introductory remarks.
Key Quotes
“At this stage we do not think words will be able to move EUR/USD – the market is looking for actions. On this regard, the FOMC meeting Wednesday will be the more important monetary policy event for EUR/USD this week as we look for Fed to prepare the market for a July cut. In turn this should pave the way for EUR/USD to move to 1.15 in 3M and outperform FX forwards.”
Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/eur-usd-g ... 1906171136 (Article)
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Re: EUR/USD
490all these banks, they really must love us, when they are giving away money, I do believe that they only want our best