.

EUR/USD

Moderators: mntiwana, mrtools



Re: EUR/USD

#632
It's finally testing 1.1200 but I, personally, would not open another short before I see a proper breakout below that level.

EURUSD remains on the defensive

#633
mlawson71 wrote:
Wed Jul 10, 2019 12:57 am
It's finally testing 1.1200 but I, personally, would not open another short before I see a proper breakout below that level.
Scary moments! I think the upside will prevail. What do you think Mr Lawson? Up or down :thumbup: :thumbdown:

EUR/USD remains on the defensive

EURUSD-Support-Resistance-July-10-2019.png

According to Karen Jones, analyst at Commerzbank, EUR/USD pair remains on the defensive and below the 55 day moving average at 1.1232.

Key Quotes

“It will shortly encounter the March and mid-June lows at 1.1181/76, we look for these to hold. While this area underpins on a daily chart closing basis, the 200 day moving average and early June high at 1.1328/48 will remain in sight. Above the 1.1412 June high we look for a test of the 1.1570 2019 high. Slightly longer term we target 1.1815/54, the highs from June and September 2018.”

“We regard the April and May lows at 1.1110/06 as a turning point and continue to view the market as based longer term and target 1.1990 (measurement higher from the wedge).”

Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/eur-usd-r ... 1907100609 (Article)
Download over 500+ Forex & Trading books from Forex-Station's Trader's Library.

Re: EUR/USD

#634
Well, so much about a breakout below 1.1200. I was hoping for that but there's a clear rebound from that level.

EURUSD trims gains post-US CPI, approaches 1.1250

#635
EUR/USD trims gains post-US CPI, approaches 1.1250

EURUSD-Support-Resistance-July-11-2019.png

  • EUR/USD faded the earlier spike to the vicinity of 1.1290.
  • US Core CPI rose more than expected during June.
  • ECB said it is ready to easy monetary policy.

After climbing as high as the proximity of 1.1290, EUR/USD lost some momentum and it has now receded to the 1.1260/55 band.

EUR/USD upside limited near 1.1290

Bulls were unable to push spot further north of the 1.1285/90 band on Thursday, sparking the ongoing correction lower soon afterwards.

In addition, EUR lost the grip after the ECB minutes showed the Governing Council is ready to cut interest rates, while Board member B.Coeure said earlier in the day the central bank is concerned about the protracted low inflation in the region.

Also weighing on the pair via the better mood in the buck, US inflation figures tracked by the Core CPI rose above estimates during June: 0.3% inter-month and 2.1% from a year earlier. The positive CPI prints gave extra oxygen to US yields, triggering a rebound in the spread differentials vs. their European peers.

What to look for around EUR

The shared currency is breathing some relief after the dovish tone from Fed’s Powell and the FOMC minutes. However, this is seen as a short-live boost against the backdrop of renewed and increasing speculations of another wave of monetary stimulus from the European Central Bank in the near term, via interest rate cuts (September?) and the resumption of the QE programme. Also weighing on the currency, the dovish stance from the ECB appears reinforced by the recent appointment of ex-IMF’s C.Lagarde to succeed M.Draghi. On the macro scenario, the slowdown in the region looks unremitting and it also reinforces the current accommodative attitude of the central bank.

EUR/USD levels to watch

At the moment, the pair is gaining 0.06% at 1.1257 and a break above 1.1286 (high Jul.11) would target 1.1325 (200-day SMA) en route to 1.1412 (high Jun.25). On the other hand, the next down barrier lines up at 1.1193 (monthly low Jul.9) followed by 1.1181 (low Jun.18) and finally 1.1106 (2019 low May 23).

Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/eur-usd-t ... 1907111328 (Article)
Download over 500+ Forex & Trading books from Forex-Station's Trader's Library.


EURUSD around 1.1270 ahead of EMU, US data

#637
EUR/USD around 1.1270 ahead of EMU, US data

EURUSD-Support-Resistance-July-12-2019.png

  • EUR/USD deflates a tad after daily highs at 1.1274.
  • EMU Industrial Production expected to rebound in May.
  • US Producer Prices will be the salient event across the pond.

The optimism around the shared currency remains well and sound in the second half of the week, with EUR/USD now hovering around the 1.1270 area.

EUR/USD looks to EMU, US data

The pair is advancing for the third session in a row today, although the area around 1.1280 – where lies the 21-day SMA – has emerged as a strong resistance for the time being.

The change of heart around the pair remains supported by the recent dovish tone from Powell’s testimonies as well as the FOMC minutes. That said, a 25 bps interest rate cut (insurance cut) by the Federal Reserve later this month is already priced in, while investors continue to assess at the same time the likeliness of further cuts in the next months.

Data wise in Euroland, Industrial Production is seen rebounding in May, whereas Producer Prices for the month of June will be the sole release across the ocean along with the speech by FOMC’s C.Evans.

What to look for around EUR


The shared currency is breathing some relief after the dovish tone from Fed’s Powell and the FOMC minutes. However, this is seen as a short-live boost against the backdrop of renewed and increasing speculations of another wave of monetary stimulus from the European Central Bank in the near term, via interest rate cuts (September?) and the resumption of the QE programme. Also weighing on the currency, the dovish stance from the ECB appears reinforced by the recent appointment of ex-IMF’s C.Lagarde to succeed M.Draghi. On the macro scenario, the slowdown in the region looks unremitting and it also reinforces the current accommodative attitude of the central bank.

EUR/USD levels to watch

At the moment, the pair is gaining 0.18% at 1.1274 and a break above 1.1286 (high Jul.11) would target 1.1324 (200-day SMA) en route to 1.1412 (high Jun.25). On the other hand, the next down barrier lines up at 1.1193 (monthly low Jul.9) followed by 1.1181 (low Jun.18) and finally 1.1106 (2019 low May 23).

Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/eur-usd-a ... 1907120706 (Article)
Download over 500+ Forex & Trading books from Forex-Station's Trader's Library.

EURUSD remains parked around 1.1270, focus on US data

#639
The upside will prevail! :problem:

EUR/USD remains parked around 1.1270, focus on US data

EURUSD-Support-Resistance-July-14-2019.png

  • EUR/USD stays sidelined near 1.1270 so far.
  • Rangebound trading prevails in the global markets.
  • US Empire State index next of significance on the docket.

The optimism around the shared currency stays well and sound at the beginning of the week, with EUR/USD following a consolidative pattern in the 1.1270 area for the time being.

EUR/USD focused on trends, data

The pair is posting gains since last Wednesday and the up move remains propped up by the firm speculations of a rate cut by the Federal Reserve later this month, although market participants are still debating whether it will be a 25 bps (insurance cut) or 50 bps rate cut.

In addition, the cautious tone is expected to gather traction among EUR investors in response to the potential announcements of some kind of easing measures by the ECB, either at this month’s meeting or the September one. At this point, market chatter commenced to mull the idea of a 10 bps rate cut to the deposit rate and the restart of the QE programme, along with changes in the forward guidance.

In the docket, nothing expected in Euroland today, whereas the attention will be across the pond with the publication of the NY Empire State index and the speech by FOMC’s J.Williams.

What to look for around EUR

The shared currency continues its Powell-led march north after bottoming out near 1.1190 last week. However, this could be seen as a short-live boost against the backdrop of renewed and increasing speculations of another wave of monetary stimulus from the European Central Bank in the near term, via interest rate cuts (July/September) and the resumption of the QE programme. Also weighing on the currency, the dovish stance from the ECB appears reinforced by the recent appointment of ex-IMF’s C.Lagarde to succeed M.Draghi. On the macro scenario, the slowdown in the region looks unremitting and it also reinforces the current accommodative attitude of the central bank.

EUR/USD levels to watch

At the moment, the pair is gaining 0.03% at 1.1273 and a break above 1.1286 (high Jul.11) would target 1.1323 (200-day SMA) en route to 1.1412 (high Jun.25). On the other hand, the next down barrier lines up at 1.1193 (monthly low Jul.9) followed by 1.1181 (low Jun.18) and finally 1.1106 (2019 low May 23).

Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/eur-usd-r ... 1907150652 (Article)
Download over 500+ Forex & Trading books from Forex-Station's Trader's Library.

Re: EUR/USD

#640
EUR/USD is bouncing off from 1.1280 yet again, I think we may see it depreciate towards 1.1200 again.



Who is online

Users browsing this forum: CommonCrawl [Bot], vvFish and 1 guest