EURUSD trades to new session lows

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EURUSD trades to new session lows

Dips below the next target levels

The EURUSD has moved to new session lows as London/European traders look toward the exits.


In the move, the price has moved below a swing area at 1.1459-63 (see chart above). Stay below and the double bottom at 1.1432 will be eyed.

The EURUSD range today is up to 95 pips (it was only 57 pips at the start of the NY session). The 22 day average is 80 pips. So we have done more than normal. That may help to slow a fall. Be aware of a potential fail on the last dip below the swing area.

Source: https://www.forexlive.com/technical-ana ... s-20181022
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EUR/USD remains sidelined

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EUR/USD remains sidelined around 1.1480, focus on Italy, data

- The pair moves sideways always below the 1.1500 handle.
- The greenback follows the same pattern around 96.00.
- Focus remains on Italian politics and flash PMIs.

EUR/USD alternates gains with losses in the middle of the week, extending the sideline theme so far below the critical 1.1500 the figure.

EUR/USD looks to data, Italy

The pair navigates within a narrow range in the 1.1480 region, prolonging the cautious stance amidst unabated effervescence surrounding the Italian political arena.

In fact, the dispute between the Italian government and the EU authorities in Brussels stay far from over, always with the recently submitted (and rejected) 2019 draft budget in the centre of the debate.

Looking ahead, advanced PMIs in core Euroland are next on tap along with ECB’s Private Sector Loans figures and M3 Money Supply. Across the pond, Markit will also release its preliminary gauges for the current month seconded by New Home Sales and the weekly report on US crude oil supplies.

EUR/USD levels to watch

At the moment, the pair is losing 0.08% at 1.1465 and a break below 1.1432 (low Oct.9) would target 1.1319 (200-week SMA) en route to 1.1299 (2018 low Aug.15). On the upside, the next resistance emerges at 1.1508 (low May 29) seconded by 1.1550 (high Oct.22) and then 1.1574 (55-day SMA).

Source: https://www.fxstreet.com/news/eur-usd-r ... 1810240704
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EUR/USD weaker

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EUR/USD weaker, tumbles to 2-month low near 1.1400

- The shared currency comes under further selling pressure on Wednesday.
- Spot comes down and tests fresh lows in the boundaries of 1.1400.
- EMU, German flash PMIs came in below expectations in October.

The selling pressure is now gathering further steam around the single currency, dragging EUR/USD to fresh 2-month lows in the 1.1400 neighbourhood.

EUR/USD vulnerable on Italy, data

The pair is down for the second week in a row so far today, tumbling to fresh lows and challenging at the same time the critical 1.1400 handle, levels last seen in mid/late-August.

Italy remains the exclusive source of the ongoing and intensified selling mood around the pair, particularly after the EU rejected on Tuesday the proposed 2019 draft budget, sparking further accusations between the parties.

In addition, advanced manufacturing PMIs for the current month in Germany and the euro bloc are seen below expectations, also collaborating with the sour sentiment around EUR.

Still in the euro docket, ECB’s Private Sector Loans expanded at an annualized 3.1% and M3 Money Supply expanded 3.5% on a year to September.

In the US data space, September’s New Home Sales and flash manufacturing and services PMIs for the month of October are next on tap ahead of the weekly report on US crude oil supplies by the DoE.

EUR/USD levels to watch

At the moment, the pair is losing 0.59% at 1.1405 and a break below 1.1402 (low Oct.24) would target 1.1319 (200-week SMA) en route to 1.1299 (2018 low Aug.15). On the upside, the next resistance emerges at 1.1508 (low May 29) seconded by 1.1550 (high Oct.22) and then 1.1574 (55-day SMA).

Source: https://www.fxstreet.com/news/eur-usd-w ... 1810241034
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Re: EUR/USD

315
mlawson71 wrote: Wed Oct 24, 2018 11:57 pm I think it will continue falling toward 1.1200.
Yep it certainly looks like it man. Are you in any trades at the moment or sitting it out?
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Euro hammered to monthly lows

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EUR/USD Technical Analysis: Euro hammered down to monthly lows as 1.1400 becomes the new battleground

- EUR/USD is trading in a bear trend below the 200-period simple moving average (SMA) as it plunged no a new October low.
- EUR/USD is trading at levels not seen since mid-August as the market is trading far away from its 50, 100 and 200 SMA. The RSI and Stochastic indicators entered the oversold zone while the MACD remains bearish. As the 1.1400 is likely going to be the last bastion before a potential move down to 1.1300 (2018 low), the 1.1400 level should become the next battleground for both bulls and bears. Therefore a sideways consolidation is to be expected before the next directional move.
- Bears would need a close below 1.1400 on a daily closing basis while bulls will try to regain 1.1430 level.

EUR/USD 4-hour chart

Spot rate: 1.1397
Relative change: -0.65%
High: 1.1477
Low: 1.1378

Main trend: Bearish

Resistance 1: 1.1430 October 9 low
Resistance 2: 1.1463 October 4 low
Resistance 3: 1.1463 October 4 low
Resistance 4: 1.1500 figure and October 2 swing low
Resistance 5: 1.1530 August 23 swing low (key level)

Support 1: 1.1400 figure
Support 2: 1.1300 current 2018 low
Support 3: 1.1200 figure

Source: https://www.fxstreet.com/news/eur-usd-t ... 1810241538?
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ECB leaves rates unchanged

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European Central Bank monetary policy decision - 25 October 2018


- Prior decision
- Main refinancing rate 0.00%
- Marginal lending facility 0.25%
- Deposit facility -0.40%
- Monthly asset purchases to continue at a pace of €15 billion until December
- Anticipates end of asset purchases in December
- End of asset purchases contingent on incoming data
- Will reinvest for extended period after purchases end
- To keep rates unchanged at least through the summer of 2019

Basically a copy and paste message of that seen in September. No significant changes to the language or message by the ECB so far. The euro is unphased by that and rightfully so with EUR/USD still at 1.1403 currently.

All eyes now turn to Draghi who will be speaking at 1230 GMT. And given the statement here and the fact that they decided to approach the end of QE with caution - not committing firmly to say that it will end in December - Draghi is likely to just reaffirm the same message that we saw last month.

Source: https://www.forexlive.com/centralbank/! ... d-20181025
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Re: EUR/USD

319
Jimmy wrote: Thu Oct 25, 2018 12:47 am

Yep it certainly looks like it man. Are you in any trades at the moment or sitting it out?
I am sitting it out for the moment but considering shorting soon. What about you?

EUR/USD looks for direction

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EUR/USD looks for direction near 1.1380, Draghi eyed

- The pair struggles to regain traction below the 1.1400 handle.
- The greenback stays sidelines around 96.60.
- ECB’s Mario Draghi will be speaking later in the session.

The single currency remains under pressure at the end of the week and is now prompting EUR/USD to navigate around 1.1370/80.

EUR/USD now looks to Draghi

The pair remains vulnerable so far this week, trading in the area of 2-month lows and finding support in near 1.1350 for the time being.

The ECB meeting left no room for surprises on Thursday, while the Governing Council reiterated the positive view of the economic conditions in the region and showed optimism that inflation should clinch the bank’s target over the medium term.

In the meantime, Italy remains in centre stage as exclusive driver of the pair’s price action. Today, credit rating agency S&P is expected to publish its report on the country.

Moving forward, President M.Draghi and Board member B.Coeure are due to speak in Brussels and Paris, respectively.

Data wise across the Atlantic, the US docket includes the first estimate of Q3 GDP and the final print of the U-Mich index.

EUR/USD levels to watch

At the moment, the pair is down 0.01% at 1.1373 and a break below 1.1356 (low Oct.25) would target 1.1319 (200-week SMA) en route to 1.1299 (2018 low Aug.15). On the flip side, the immediate hurdle aligns at 1.1470 (10-day SMA) seconded by 1.1505 (21-day SMA) and finally 1.1550 (high Oct.22).
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