EURUSD hits fresh two-week high as push higher continues

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For now! But don't be fooled, this pair has been in a downtrend for the past 11 years :think:

EUR/USD hits fresh two-week high as push higher continues

EUR/USD touches a high of 1.1090, highest level since 29 August


The solid rebound in the euro continues after hitting a double bottom around last week's low of 1.0926. Price has since jumped up by ~160 pips to trade at fresh two-week highs near 1.1090 in early European trading today.

As it stands, buyers are in near-term control and are in search of a more meaningful technical break higher. Currently, price is contesting near-term resistance @ 1.1085 (again) as well as the 50.0 retracement level @ 1.1088.

A break of those levels will see buyers eye the 1.1100-10 region next.

So, is this the start of a strong breakout in EUR/USD? I wouldn't get too carried away for the time being, not with the Fed still to come next Wednesday.

The near-term technical picture suggests that buyers are in control but there isn't much besides a relief rally to fundamentally suggest that the euro may track higher - unless economic data starts to improve on the back of the dovish efforts by the ECB yesterday.

It sounds a bit convoluted, doesn't it? Dovish monetary policy = stronger currency? Well, it's all about sentiment and focus. Right now, for the Eurozone, it's mainly trying to avert an economic disaster over the next 12-18 months.

If the ECB's stimulus package is "adequate" enough to bolster economic confidence and shore up inflation, then ultimately it can be viewed as a good thing. But I wouldn't count on that being the case as evident to what we have seen in the past.

But we'll see. Time will tell how things will play out on that front.

For now, the EUR/USD looks better for buyers but any confirmation of a trend breakout depends on the reaction to the Fed next week.

Source: https://www.forexlive.com/technical-ana ... s-20190913
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EURUSD falls to session low as sellers look to regain near-term control

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The 11-year downtrend resumes. Sell sell sell! :problem:

EUR/USD falls to session low as sellers look to regain near-term control


EUR/USD falls just under 1.1050 to test the 100-hour moving average


The "ECB bounce" is starting to fade already as sellers look to try and seize near-term control once again in EUR/USD. Price is creeping lower to start the new week with the downside move today testing the 100-hour MA (red line) currently.

The 200-hour MA (blue line) also sits nearby @ 1.1042 and a break below those levels will see sellers regain near-term control in the pair.

Since the ECB meeting, there has been plenty of focus and talk about the need for fiscal policy but until we see any concrete signs of that, I don't think any boost from mere talks will be sustainable for the single currency.

As we look towards the medium-term, the trade for the euro will be a trade on the performance of the euro area economy as the ECB pushes monetary policy to its limits.

If that doesn't cut it for the economy and inflation, there is little optimism to keep the euro buoyed. As such, I would argue that this is the most important chart to keep an eye on if you're trading the euro in the coming months:


As you can see, inflation expectations have somewhat "stabilised" since markets got to know that the ECB will introduce a stimulus package in September and has improved to ~1.31% after the decision last week.

However, if economic data continues to deteriorate further in Q4 and inflation expectations start debasing again, expect that to pressure the euro lower towards the year-end.

Source: https://www.forexlive.com/technical-ana ... l-20190916
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EURUSD Analysis: trades at 1.1070

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EUR/USD Analysis: trades at 1.1070



Yesterday, the EUR/USD currency pair was trading sideways in the 1.1020/1.1070 area. During Thursday morning, the pair was testing the resistance level—the monthly PP at 1.1069.

Note that the exchange rate is supported by the 55-, 100– and 200-hour SMAs, currently located circa 1.1050. Thus, some upside potential could prevail in the market, and the rate could re-test the upper line of the short-term ascending channel at 1.1100.

However, if the given resistance holds, it is likely that the Euro could continue to consolidate against the US Dollar in the short term. If the given support does not hold, the pair could target the psychological level at 1.1000.

Source: https://www.fxstreet.com/analysis/eur-u ... 1909191117
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