EUR/USD

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EURUSD Analysis: trades at 1.1070

#641
EUR/USD Analysis: trades at 1.1070

eurusd-76-637044884928194159.png

eurusd-longs-vs-shorts.jpg

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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Re: EUR/USD

#642
It's stuck in a sideways consolidation below 1.1070, I won't trade it before it breaks out above 1.1110 too.

EURUSD: FOMC Statement and Federal Funds Rate

#643
mlawson71 wrote:
Thu Sep 19, 2019 10:36 pm
It's stuck in a sideways consolidation below 1.1070, I won't trade it before it breaks out above 1.1110 too.
Reckon it'll keep going up? :oops:

EUR/USD: FOMC Statement and Federal Funds Rate

The European Common Currency depreciated against the US Dollar, following the FOMC Statement release on Wednesday at 18:00 GMT. The EUR/USD exchange currency rate lost 20 pips or 0.18% right after the release. The Euro continued trading at the 1.1105 level against the Greenback.

The Federal Reserve released the Federal Funds Rate data, which came out in line with the expectations of 2.00%.

According to the official release: "Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In light of the implications of global developments for the economic outlook as well as muted inflation pressures, the Committee decided to lower the target range for the federal funds rate to 1-3/4 to 2 percent. This action supports the Committee's view that sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective are the most likely outcomes, but uncertainties about this outlook remain."

EURUSD ASK 1M since 2018 2019-09-18 to 2142 2019-09-18-637045759643407725.png

Source: https://www.fxstreet.com/analysis/macro ... 1909201133
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Re: EUR/USD

#644
It's testing the support at 1.1015 but the sideways consolidation clearly continues. I don't think there will be a breakout in either direction by the time the market closes today.

Re: EUR/USD

#645
As I thought, there was no breakout for EUR/USD. Hopefully we'll finally see an end of the consolidation next week.


EURUSD Analysis: trades at 1.1000

#646
TL;DR: Sell :ugeek:

EURUSD Analysis: trades at 1.1000

EUR/USD
On Friday, the EUR/USD currency pair tumbled to the 1.1000 level. During today's morning, the pair tried to surpass the 1.1020 mark.

Note, that the exchange rate has been trading within the descending channel since last Wednesday. Thus, it is likely that the rate could reverse north from its lower boundary located circa 1.0900. It is unlikely, that the rate could exceed 1.1040 due to resistance formed by the 55-, 100- and 200-hour SMAs, as well the weekly PP.

If the given channel does not hold, it is likely that a breakout south could occur in the nearest future. In this case the currency pair could face support of the weekly S1 located at the 1.0979 mark. If the given support does not hold, the pair could decline to the lower boundary of the medium-term ascending channel located in the 1.0960 area.

EURUSD ASK 1H since 0756 2019-09-17 to 2001 2019-09-25-637048299310314647.png

eurusd-637048298611858997.jpg

Source: https://www.fxstreet.com/analysis/eur-u ... 1909231006
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Re: EUR/USD

#647
The support at 1.0965 remains unbroken, and even if EUR/USD does break out below it the pair will also have to break out below 1.925 in order to continue depreciating.

Chart: EURUSD risks a test of lower levels

#648
FX Strategists at UOB Group suggested "EUR/USD still faces extra downside pressure"

No shit! :idea:

EUR/USD risks a test of lower levels

EURUSD-Chart-Support-Resistance-September-24-2019.png

Key Quotes

24-hour view: “While we expected EUR to “weaken further” yesterday, we held the view that the “next support at 1.0975 is unlikely to come into the picture”. The subsequent weakness exceeded our expectation as EUR plummeted to 1.0964 before rebounding quickly. Despite the recovery, the underlying tone remains soft and it is too early to expect a significant rebound. EUR is more likely to consolidate its loss and trade sideways at these lower levels, likely between 1.0970 and 1.1115”.

Next 1-3 weeks: “EUR dropped to 1.0964 before closing at a 3-week low of 1.0991 (-0.24%). While downward momentum has picked up, we still view the current price action as part of a broad sideway-trading phase (same view since 13 Sep, spot at 1.1055). That said, the weakened underlying tone suggests it could edge lower towards the bottom of the expected 1.0925/1.1100 range first range (narrowed from 1.0925/1.1130 previously). At this stage, the prospect for a sustained decline below 1.0925 is not high”.

Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/eur-usd-r ... 1909240541 (Article)
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Re: EUR/USD

#649
EUR/USD continues consolidating sideways. And here I thought in September the summer ranging would end.