.

EUR/USD

Moderators: mntiwana, mrtools

EURUSD comes under pressure near 1.1430, session lows

#451
EUR/USD comes under pressure near 1.1430, session lows

  • The pair’s upside loses momentum near 1.1480, 100-day SMA.
  • The greenback still trades below the 96.00 handle.
  • German Industrial Production contracted 1.9% MoM in November.

The selling pressure around the European currency appears to have re-emerged today, forcing EUR/USD to give away part of the recent up move to the 1.1480 region.

EUR/USD capped by 100-day SMA near 1.1480
The 3-day recovery in spot seems to have met some important selling area near the 100-day SMA in the 1.1480 region, triggering the current correction lower to the 1.1440/30 band.

In the data space, German Industrial Production contracted at a monthly 1.9% during November, missing expectations. Moving forward and still in Euroland, several confidence/sentiment gauges are due later in the session. Across the pond, JOLTs Job Openings will be the sole publication later in the NA session.

What to look for around EUR/USD
Spot continues to look for any development from the US-China ongoing trade talks in Beijing, with headlines expected to hit the wires at some point later today. Other than trade, investors continue to gauge the probability of a ‘no hike’ this year by the Federal Reserve, while attention also remains on a potential slowdown in the US economy. In this regard, latest US ISM Manufacturing and Non-manufacturing releases appear to be reinforcing this view for the time being.

EUR/USD levels to watch
At the moment, the pair is losing 0.23% at 1.1448 and a break below 1.1309 (2019 low Jan.2) would target 1.1268 (monthly low Dec.14 2018) en route to 1.1214 (2018 low Nov.12). On the upside, immediate hurdle aligns at 1.1479 (high Jan.7) followed by 1.1497 (high Jan.2) and finally 1.1502 (high Nov.7 2018).

German-industrial-production.png

Source: https://www.fxstreet.com/news/eur-usd-c ... 1901080724
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EURUSD Technical Analysis: The pair stays supported around the 55-day SMA near 1.1380

#452
EUR/USD Technical Analysis: The pair stays supported around the 55-day SMA near 1.1380

  • EUR/USD stays under pressure around the 1.1400 handle so far today, coming down after testing fresh tops in the 1.1580/85 band, where sits the 61.8% Fibo retracement of the September-November drop.
  • Further consolidation thus appears likely in the short-term horizon as long as the 55-day SMA around 1.1380 holds the downside.
  • On the upside, the key 100-day SMA at 1.1470 emerges as the interim hurdle ahead of more relevant levels at/above 1.1500 the figure.

EUR/USD daily chart
Screen Shot 2019-01-16 at 09.37.45-636832249411261305.png

Overview:
Today Last Price: 1.1416
Today Daily change: 3.0 pips
Today Daily change %: 0.0263%
Today Daily Open: 1.1413

Trends:
Previous Daily SMA20: 1.1432
Previous Daily SMA50: 1.1385
Previous Daily SMA100: 1.1471
Previous Daily SMA200: 1.1619

Levels:
Previous Daily High: 1.1491
Previous Daily Low: 1.1382
Previous Weekly High: 1.1571
Previous Weekly Low: 1.1396
Previous Monthly High: 1.1486
Previous Monthly Low: 1.1269
Previous Daily Fibonacci 38.2%: 1.1424
Previous Daily Fibonacci 61.8%: 1.145
Previous Daily Pivot Point S1: 1.1366
Previous Daily Pivot Point S2: 1.1319
Previous Daily Pivot Point S3: 1.1257
Previous Daily Pivot Point R1: 1.1476
Previous Daily Pivot Point R2: 1.1538
Previous Daily Pivot Point R3: 1.1585

Source: https://www.fxstreet.com/news/eur-usd-t ... 1901160842
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EURUSD: yield differentials favor the US dollar

#453
EUR/USD: yield differentials favor the US dollar

  • The US-German (DE) two-year yield spread is rising in the EUR-negative manner.
  • Markets are likely expecting a dovish bias.
  • The International Monetary Fund (IMF) on Monday downgraded the global growth forecast, courtesy of softening demand across Europe.

The EUR/USD pair is currently trading at 1.1360 and risks falling to 1.13, courtesy of the dovish European Central Bank (ECB) expectations.

The spread between the US and German two-year bond yields rose to 320 basis points on Friday; the highest level since Dec. 21. The rising yield differential indicates the markets are likely expecting the European Central Bank (ECB) President Draghi to sound dovish at this week's rate-setting meeting on Jan. 24.

Notably, the yield spread could rise further ahead of the ECB's rate decision, as the IMF's cut its forecast for the world economy for the second time in three months, citing softening demand across Europe. Add to that Brexit uncertainty and financial market instability and Draghi has little room to talk dovish.

The EUR, therefore, is likely to remain under pressure ahead of the ECB's rate decision. The technicals are also biased bearish. For instance, the pair has found acceptance under the 50-day moving average (MA) support and the 5- and 10-day MAs are trending south.

EUR/USD Technical Levels

Overview:
Today Last Price: 1.1361
Today Daily change: -0.0008 pips
Today Daily change %: -0.07%
Today Daily Open: 1.1369

Trends:
Daily SMA20: 1.1428
Daily SMA50: 1.1388
Daily SMA100: 1.146
Daily SMA200: 1.1599

Levels:
Previous Daily High: 1.1392
Previous Daily Low: 1.1357
Previous Weekly High: 1.1491
Previous Weekly Low: 1.1353
Previous Monthly High: 1.1486
Previous Monthly Low: 1.1269
Daily Fibonacci 38.2%: 1.1378
Daily Fibonacci 61.8%: 1.137
Daily Pivot Point S1: 1.1353
Daily Pivot Point S2: 1.1338
Daily Pivot Point S3: 1.1318
Daily Pivot Point R1: 1.1388
Daily Pivot Point R2: 1.1407
Daily Pivot Point R3: 1.1423

Source: https://www.fxstreet.com/news/eur-usd-y ... 1901220442
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Re: EUR/USD

#454
The pair continues consolidating sideways and is still very choppy, I think we will see it drop to 1.1300 at best.

Re: EUR/USD

#455
mlawson71 wrote:
Wed Jan 23, 2019 1:27 am
The pair continues consolidating sideways and is still very choppy, I think we will see it drop to 1.1300 at best.
yes agree.......... when do u think we will see some direction again??? :(


Re: EUR/USD

#457
And she's off to the races. Finally we see some good movement to the upside :think:
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EURUSD rebounds above 1.14, turns positive for the week

#459
mlawson71 wrote:
Sat Jan 26, 2019 12:46 am
It was high time indeed. Do you think it will reach 1.1380?
Good call it's hit just above. Let's see if it can hold :shifty:

EUR/USD rebounds above 1.14, turns positive for the week

  • Broad USD weakness helps the pair recover weekly losses on Friday.
  • Ifo data shows that sentiment continues to deteriorate in Germany.
  • ECB recognizes the weakness of the recent data.

The EUR/USD pair, which fell to its lowest level in more than two months below 1.13 on Thursday after ECB President Draghi acknowledged the weaker growth momentum and increasing downside risks, staged a decisive recovery on Monday and gained nearly 100 pips on Friday. As of writing, the pair was trading at 1.1410, adding 0.9% on a daily basis. With today's upsurge, the pair turned positive for the week.

Earlier today, the data published by Germany's Ifo's Institue revealed that the headline German Business Climate Index fell to 99.1 in January from December's 101.0 reading and fell short of the analysts' estimate of 100.6. Moreover, the Current Economic Assessment Index edged down to 104.3 and the Expectations Index slumped to 94.2 to confirm the deteriorating sentiment in the euro area's biggest economy.

However, with the greenback failing to extend yesterday's rally and reversing its course on Friday, the pair shook off the negative impact of the disappointing Ifo report and posted decisive gains. The US Dollar Index in the early NA session slumped below the 96 mark for the first time in more than a week amid dovish Fed expectations and concerns over the ongoing government shutdown. At the moment, the index is down 0.7% on the day at 95.90.

Key Technical Levels

Overview:
Today Last Price: 1.141
Today Daily change: 0.0102 pips
Today Daily change %: 0.90%
Today Daily Open: 1.1308

Trends:
Daily SMA20: 1.142
Daily SMA50: 1.139
Daily SMA100: 1.1452
Daily SMA200: 1.1584

Levels:
Previous Daily High: 1.1393
Previous Daily Low: 1.1289
Previous Weekly High: 1.1491
Previous Weekly Low: 1.1353
Previous Monthly High: 1.1486
Previous Monthly Low: 1.1269
Daily Fibonacci 38.2%: 1.1329
Daily Fibonacci 61.8%: 1.1353
Daily Pivot Point S1: 1.1267
Daily Pivot Point S2: 1.1227
Daily Pivot Point S3: 1.1164
Daily Pivot Point R1: 1.1371
Daily Pivot Point R2: 1.1433
Daily Pivot Point R3: 1.1474

Source: https://www.fxstreet.com/news/eur-usd-r ... 1901251642
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EURUSD Technical Analysis: Bulls take a breather near descending trend-line hurdle ahead of Euro-zone GDP

#460
EUR/USD Technical Analysis: Bulls take a breather near descending trend-line hurdle ahead of Euro-zone GDP

  • The pair continued gaining positive traction for the fifth straight session on Thursday and is now looking to build on the momentum further beyond the key 1.1500 psychological mark.
  • The fact that the pair has found acceptance above 100-day SMA support prospects for further up-move, though slightly overbought conditions on the 4-hourly chart seemed to cap gains.
  • The ongoing bullish trajectory over the past one week or so paused near a resistance marked by a descending trend-line, extending from Sept. 2018 swing high through tops set earlier this month.
  • Meanwhile, technical indicators on the daily chart have just started gaining traction and add credence to the constructive set-up ahead of the flash Euro-zone Q3 GDP growth figures.

EUR/USD daily chart
EUR_USD (29)-636845207718850961.png

Overview:
Today Last Price: 1.1504
Today Daily change %: 0.20%
Today Daily Open: 1.1481

Trends:
Daily SMA20: 1.1422
Daily SMA50: 1.1393
Daily SMA100: 1.1446
Daily SMA200: 1.1568

Levels:
Previous Daily High: 1.1502
Previous Daily Low: 1.1406
Previous Weekly High: 1.1418
Previous Weekly Low: 1.1289
Previous Monthly High: 1.1486
Previous Monthly Low: 1.1269
Daily Fibonacci 38.2%: 1.1466
Daily Fibonacci 61.8%: 1.1443
Daily Pivot Point S1: 1.1424
Daily Pivot Point S2: 1.1367
Daily Pivot Point S3: 1.1327
Daily Pivot Point R1: 1.152
Daily Pivot Point R2: 1.156
Daily Pivot Point R3: 1.1617

Source: https://www.fxstreet.com/news/eur-usd-t ... 1901310843
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