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EUR/USD finds some support

EUR/USD finds some support around 1.1340 post-US GDP

- The pair is now attempting a rebound after dropping to 1.1340/35 band.
- The greenback eases from daily highs beyond 96.80.
- US flash Q3 GDP came in above estimates at 3.5%.

After bottoming out in the 1.1340.35 band, EUR/USD is now looking to rebound to the 1.1350 region following an auspicious result from the US GDP figures.

EUR/USD still offered post-US data

The pair remains entrenched into the negative territory around 1.1350, albeit a tad higher than today’s lows in the 1.1340/35 band and always against the backdrop of a solid sentiment around the buck.

EUR managed to gather some traction despite preliminary US GDP figures showed the economy is expected to expand at an annualized 3.5%, more than initially forecasted.

Still in the US docket, the final print of the October’s Consumer Sentiment tracked by the U-Mich index is coming up next.

EUR/USD levels to watch

At the moment, the pair is down 0.18% at 1.1353 and a break below 1.1336 (low Oct.26) 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).

Source: https://www.fxstreet.com/news/eur-usd-f ... 1810261315
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EUR/USD analysis: still bearish despite...

EUR/USD analysis: still bearish despite Friday's bounce, eyeing US PCE inflation

EUR/USD Current price: 1.1403
- USD Q3 GDP up 3.5%, although tariffs started weighing on economic growth.
- Fed's favorite inflation measure seen unchanged at 2.0% YoY in September.


The American dollar continued appreciating early Friday but ended the day giving up ground against most of its rivals, to close it lower. The EUR/USD pair, bottomed at 1.1335 to close a couple of pips above the 1.1400 figure, down for a second consecutive week. The greenback eased despite upbeat Q3 GDP, as the preliminary growth estimate for the three months to September came in at 3.5%, above the 3.3% expected. Partially offsetting the headline was PCE inflation, up by less-than-expected in the same period, just 1.6% vs. 2.1% in the previous quarter. Also, and in spite of the encouraging headline, the report showed that tariffs started to weigh on growth with exports falling and imports rising strongly. The Michigan Consumer Sentiment Index was downwardly revised to 98.6 from the first estimate of 99.00, adding to dollar's weakness at the end of the week. Meanwhile, stocks remained under selling pressure, with the risk-averse decline fueled by softer-than-expected earnings reports from big names.

Monday will bring the release of the US September PCE inflation, the Fed's favorite measure when it comes to making decisions. The market expects a 0.1% monthly advance, while the yearly reading is foreseen up by 2.0%, matching the previous reading. A disappointing number, particularly considering the quarterly outcome, could hurt the greenback, although it seems quite unlikely that a single negative reading can deviate the Federal Reserve from its tightening path.

The recovery of the EUR/USD pair fell short of changing the negative bias according to the daily chart, as it continues developing far below all of its moving averages, with a bearish 20 DMA being the nearest at around 1.1500, and more relevant, it was unable to advance beyond 1.1430, former October monthly low. In the mentioned chart, technical indicators have recovered alongside the price, but remain well into negative ground and with the upward potential limited. Shorter term, and according to the 4 hours chart, the upside seems limited, as the pair settled around a bearish 20 SMA, while technical indicators decelerated their advances after reaching their midlines, where they currently stand. The mentioned 1.1430 level is an immediate resistance, with follow-through beyond it exposing the 1.1520 region, should the dollar remain under pressure.

Support levels: 1.1360 1.1335 1.1300

Resistance levels: 1.1430 1.1470 1.1520

Source: https://www.fxstreet.com/analysis/eur-u ... eetreports
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Breaking: Merkel to quit CDU Party’s leadership

Breaking News: Source: Merkel to quit CDU Party’s leadership - Bloomberg

Bloomberg News cited a person familiar with the matter, as saying that the German Chancellor Merkel will step down as the Head of the Christian Democrat Union party (CDU), giving up the reigns after almost 20 years following the heavy losses in the key regional elections.

However, Merkel was reported as saying that she wants to stay as the German Chancellor.

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EUR/USD Declining resistance keeping the Fiber under bearish wraps

EUR/USD Technical Analysis: Declining resistance keeping the Fiber under bearish wraps

- The EUR/USD is continuing to cycle near 1.3800 as the last twenty-four hours sees the Fiber straining to choose a direction as broader markets continue to struggle with the Italy-EU budget standoff.
- EUR/USD: Italy's GDP could spark the next significant move

The past week has seen the Fiber move haltingly lower, but so far last Friday's low at 1.1335 is holding as the current support for the pair.

EUR/USD 4-Hour

Last Price: 1.1379
Daily change: -1.5e+2 pips
Daily change: -1.32%
Daily Open: 1.1531
Daily SMA20: 1.1571
Daily SMA50: 1.1584
Daily SMA100: 1.1623
Daily SMA200: 1.1909
Daily High: 1.154
Daily Low: 1.1531
Weekly High: 1.1551
Weekly Low: 1.1336
Monthly High: 1.1816
Monthly Low: 1.1526
Daily Fibonacci 38.2%: 1.1496
Daily Fibonacci 61.8%: 1.1472
Daily Pivot Point S1: 1.1453
Daily Pivot Point S2: 1.1392
Daily Pivot Point S3: 1.1351
Daily Pivot Point R1: 1.1555
Daily Pivot Point R2: 1.1596
Daily Pivot Point R3: 1.1657

Source: https://www.fxstreet.com/news/eur-usd-t ... 1810300623
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I am still sitting on my hands, waiting for it to break out below 1.1300 for me to short it.

EUR/USD moves to session tops near 1.1360

EUR/USD moves to session tops near 1.1360

The renewed and moderate selling bias around the greenback is helping EUR/USD to extend the rebound from yesterday’s lows in the 1.1300 region.
EUR/USD up on Brexit optimism, looks to data

After three consecutive daily pullbacks, the pair has regained some buying interest and is now flirting with daily highs in the 1.1360 zone.

Auspicious headlines around Brexit gave the risk-associated universe a much-needed lift, motivating spot to bounce off multi-week lows in the 1.1300 neighbourhood to the current 1.1350/60 band.

In fact, UK’s D.Raab said on Wednesday that a Brexit deal could be clinched by 21st November, while news that PM May could have reached a deal on financial services with the EU also added to the upbeat sentiment.

Looking ahead, the Bank of England event will be the salient event later in the Old Continent, whereas the critical ISM Manufacturing will grab all the attention across the pond along with the usual report on the US labour market.

EUR/USD levels to watch

At the moment, the pair is up 0.40% at 1.1357 facing the next hurdle at 1.1401 (10-day SMA) seconded by 1.1467 (21-day SMA) and finally 1.1550 (high Oct.22). On the other hand, a break below 1.1302 (low Oct.31) would target 1.1299 (2018 low Aug.15) en route to 1.1118 (monthly low Jun.20 2017).

Source: https://www.fxstreet.com/news/eur-usd-m ... 1811010804
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EUR/USD Technical Analysis: Euro holding above 1.1400 ahead of the FOMC

EUR/USD Technical Analysis: Euro holding above 1.1400 ahead of the FOMC

- EUR/USD is trading in a bear trend below the 200-period simple moving average on the 4-hour chart ahead of the FOMC this Thursday at 19.00 GMT.
- EUR/USD has been advancing in the last 5 days of trading and has currently found support above 1.1400 and the 50 SMA. The RSI is neutral, the MACD has a bearish crossover and the Stochastic is in negative territories.
- In order to reclaim some ground, bulls will need to overcome the 1.1430 resistance. A break of the level can lead to an acceleration to 1.1450 and 1.1470, Asian high (Nov.7). Alternatively, a break below 1.1400 can lead to a drop to 1.1350 and 1.1300 levels.

EUR/USD 4-hour chart
2018-11-08 15_04_15-EUR_USD (16)-636772827041818199.png

Main trend: Bearish

Resistance 1: 1.1430 October 9 low
Resistance 2: 1.1470 Asian high (Nov.7)
Resistance 3: 1.1500 figure and October 2 swing low
Resistance 4: 1.1530 August 23 swing low (key level)
Resistance 5: 1.1600 figure

Support 1: 1.1400 figure
Support 2: 1.1350 figure
Support 3: 1.1300 current 2018 low

Additional key levels at a glance:


Last Price: 1.1427
Daily change: -12 pips
Daily change: -0.105%
Daily Open: 1.1439
Daily SMA20: 1.1449
Daily SMA50: 1.1552
Daily SMA100: 1.1584
Daily SMA200: 1.1852
Daily High: 1.15
Daily Low: 1.1395
Weekly High: 1.1456
Weekly Low: 1.1302
Monthly High: 1.1625
Monthly Low: 1.1302
Daily Fibonacci 38.2%: 1.146
Daily Fibonacci 61.8%: 1.1435
Daily Pivot Point S1: 1.1389
Daily Pivot Point S2: 1.1339
Daily Pivot Point S3: 1.1284
Daily Pivot Point R1: 1.1495
Daily Pivot Point R2: 1.155
Daily Pivot Point R3: 1.16

Source: https://www.fxstreet.com/news/eur-usd-t ... 1811081406
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Breaking: EUR/USD falls fast below 1.1300

Breaking News: EUR/USD falls fast below 1.1300, the former double-bottom, on USD strength

The EUR/USD dropped below the former double-bottom of 1.1300. Cascading stop-losses sent the world's No. currency pair down to 1.1268 in a quick movement. The pair is trading at the lowest level since June 2017, a 17-month low.

1.1235 is seen as the next downside target for the EUR/USD, followed by 1.1220. Above 1.1300, resistance awaits at 1.1330.

The US Dollar is gaining ground, extending the moves seen last week. The Federal Reserve maintained its hawkish stance last week. While Fed Chair Jerome Powell and his colleagues left the interest rate unchanged, they left the door wide open to a rate hike in its December meeting.

Also, concerns about Brexit also have an impact. Reports about a sharp disagreement in the UK government weighs on the Pound and sentiment and also helped push the EUR/USD over the critical line.

Here is how the move looks on the EUR/USD 15-minute chart.
EUR_USD (11)-636776021282762950.png
US traders are enjoying a long weekend and are off today. Slightly lower liquidity also had an impact on the move. Later in the week, US inflation and retail sales data are set to impact financial markets.
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By the looks of it EUR/USD may depreciate below 1.1200 soon. I think the question is how low it will actually drop.

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