EURUSD falls to support area on dollar buying. Bounces.
Better news out of US/China is negative for the EURUSD.
The headlines on US/China phone chats has sent stocks soaring and the EURUSD lower. The general reaction is if US/China get better, that is worse for the EU who stood to potentially benefit from continued trade war (or so it seemed).
Technically, the failed break of the 100 day MA (see earllier post here) and the subseqent move below the 100 hour MA at 1.12028 on the news, pushed buyers to sellers. However, there has been a limit.
The 200 hour MA at 1.1173 and a swing area/38.2% retracement at 1.1162-67 has helped to stall the fall. The price has rebounded to as high at 1.1194 so far (low for the day reached 1.11693)
Volatile trading conditions. I would peg the 100 hour MA at 1.12025 area as a topside resistance now. The 200 hour MA at 1.11736 and swing area (at 1.1162-67) below remains key support.
Trend: Downtrend
Source: https://www.forexlive.com/technical-ana ... g-20190813
Re: EUR/USD
582No end of the consolidation in sight, hopefully the fundamentals by the end of the week will have some effect on it.
Re: EUR/USD
583EUR/USD is rallying again but it is yet to break out above the last high at 1.3345. If it does we may see it rise towards 1.3400.
EURUSD cracks outside "the range"
584EURUSD cracks outside "the range"
Breaks below the swing area, 38.2% retracement.
The EURUSD has broken outside "the ranges" breaking below the 1.1162-67 area (now risk for shorts). The price has moved to a low of 1.1156 so far.
The 1.11377 is the 50% of the move up from the August 1 low. That is the next downside target should the break remain a break.
Source: https://www.forexlive.com/technical-ana ... e-20190814
Breaks below the swing area, 38.2% retracement.
The EURUSD has broken outside "the ranges" breaking below the 1.1162-67 area (now risk for shorts). The price has moved to a low of 1.1156 so far.
The 1.11377 is the 50% of the move up from the August 1 low. That is the next downside target should the break remain a break.
Source: https://www.forexlive.com/technical-ana ... e-20190814
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Re: EUR/USD
585Oof, I just realized I have been looking the tab of a different currency pair. Sorry guys.:shock:
EUR/USD is actually dropping like a rock. I wouldn't be surprised if it falls back to 1.1100.
EUR/USD is actually dropping like a rock. I wouldn't be surprised if it falls back to 1.1100.
EURUSD Technical Analysis: Upside remains capped by the 55-day SMA
586EUR/USD Technical Analysis: Upside remains capped by the 55-day SMA
EUR/USD daily chart
Source: https://www.fxstreet.com/news/eur-usd-t ... 1908151016
- After two sessions with losses, EUR/USD is now seeing some tepid recovery to the 1.1150/60 band.
- In the meantime, a probable move lower remains well on the cards while below the key 55-day SMA in the 1.1230 region. This important hurdle is reinforced by recent failed bullish attempts.
- The inability of the pair to regain this area of resistance in the near term (the sooner the better) should encourage sellers to return to the market on a more convincing fashion and trigger a move lower to, initially, the 1.1100 neighbourhood ahead of 2019 low at 1.1026.
EUR/USD daily chart
Source: https://www.fxstreet.com/news/eur-usd-t ... 1908151016
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Re: EUR/USD
587It's clearly very bearish after over a week of consolidation. Let's see whether it will drop below 1.1000 too.
EURUSD Technical Analysis: Scope for a visit to yearly lows near 1.1020
588Gosh, I hate this consolidation!mlawson71 wrote: Fri Aug 16, 2019 12:29 am It's clearly very bearish after over a week of consolidation. Let's see whether it will drop below 1.1000 too.
EUR/USD Technical Analysis: Scope for a visit to yearly lows near 1.1020
- EUR/USD remains entrenched into the negative territory and it has now breached the key support at 1.11 the figure.
- In doing so, the pair has now exposed a potential move to the area of 2019 lows in the 1.1030/20 band.
- Further down, the next relevant contention is expected to emerge at May 2017 low at 1.0839.
EUR/USD daily chart
Source: https://www.fxstreet.com/news/eur-usd-t ... 1908161038
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Re: EURUSD Technical Analysis: Scope for a visit to yearly lows near 1.1020
589It happens every summer, I just try (the operative word being "try" here) to be patient about it. It's testing 1.1070, maybe it will finally break out below that level.ChuChu Rocket wrote: Fri Aug 16, 2019 9:33 pm
Gosh, I hate this consolidation!
EUR/USD Technical Analysis: Scope for a visit to yearly lows near 1.1020
- EUR/USD remains entrenched into the negative territory and it has now breached the key support at 1.11 the figure.
- In doing so, the pair has now exposed a potential move to the area of 2019 lows in the 1.1030/20 band.
- Further down, the next relevant contention is expected to emerge at May 2017 low at 1.0839.
EUR/USD daily chart
EURUSD-Daily-Chart-16-August-2019.png
EURUSD-Levels-Chart-16-August-2019.png
Source: https://www.fxstreet.com/news/eur-usd-t ... 1908161038
Re: EUR/USD
590Well, so much about EUR/USD breaking out below 1.1070 this week. Hopefully next week the move south will continue.
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