Re: EUR/USD

673
EUR/USD found some resistance at 1.1180 and it has formed several spinning top candlesticks at that level on the four-hour time-frame, there may be a correction coming before a new move north.

DislikeEURUSD Technical Analysis: The up move was rejected in the 1.1180 region

674
mlawson71 wrote: Tue Oct 22, 2019 3:00 am EUR/USD found some resistance at 1.1180 and it has formed several spinning top candlesticks at that level on the four-hour time-frame, there may be a correction coming before a new move north.
Yes! I think it's going to resume the mega downtrend soon. What do you reckon will happen? :think:

EUR/USD Technical Analysis: The up move was rejected in the 1.1180 region


  • EUR/USD met some selling pressure in the 1.1180 region, or new 2-month peaks recorded at the beginning of the week. This area of resistance is also reinforced by a Fibo retracement of the 2017-2018 rally at 1.1186.
  • The near term bullish view, however, remains well in play while above the 55-day SMA in the mid-1.10s.
  • If the buying impetus picks up extra pace, then the critical 200-day SMA at 1.1206 should return to the radar.



Source: https://www.fxstreet.com/news/eur-usd-t ... 1910220927
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EURUSD Forecast: Three setbacks are pointing to further losses

676
mlawson71 wrote: Wed Oct 23, 2019 3:02 am There is a shooting star candlestick at 1.1175 on the daily time-frame, so it is possible EUR/USD may reverse from its current move to the upside.
Good spotting Mr. Lawson! Yes, I think so too. Looking forward to US session to see which way it's going to really go.

EUR/USD Forecast: These three setbacks are pointing to further losses

  • EUR/USD has been on the back foot as Brexit enters a limbo state :eh:
  • US-Sino trade talks are also struggling and weighing on sentiment.
  • Wednesday's four-hour chart is showing uptrend support is lost.

Euro bears have ended their wait for new depressing economic figures – Brexit is taking care of it. And it is not the only thing that implies further falls for EUR/USD.

  1. Brexit limbo

    The UK parliament has rejected the government's plan to rush through the Brexit legislation and the UK will probably stay in the EU for longer. The EU will likely grant an extension to Brexit until January 31, 2020. Prime Minister Boris Johnson will now have to decide if he wants to proceed with approving Brexit – he won a majority in the first vote of the deal – or head to elections.

    Uncertainty about the next steps weighs on the pound and also the euro. The timeline may become clear only next week.
  2. Slow trade talks

    White House Economic Adviser Larry Kudlow has said that unresolved issues in the first phase of talks may spill over to the second phase. He added that there is "no update on China talks."

    His comments have weighed on market sentiment, and the risk-off mood favors the safe-haven greenback over the common currency.
  3. Uptrend support lost


The four-hour chart is showing that EUR/USD has dropped back below the uptrend that accompanied it since late September. After breaking higher last week, the currency pair has lost this line again. Moreover, momentum turned negative. EUR/USD continues trading above the 50, 100, and 200 Simple Moving Averages – bulls have not lost hope but are in retreat.

Some support awaits at 1.1115, which capped EUR/USD is early September. Further down, 1.1060 held it down earlier in October. The 1.10 level capped it four times at the beginning of the month and now works as support. 1.0940, 1.0905, and 1.0879 are next.

Resistance awaits at 1.1140, which was a swing high last week. The recent high of 1.1180 is a strong resistance line. Next, we find 1.1225, which held EUR/USD down in August.

All in all, there are reasons to see further EUR/USD losses.

Looking forward

Significant euro-zone events are scheduled for Thursday. Preliminary Purchasing Managers' Indexes for October carry high expectations – and these may be proved wrong again.

The European Central Bank is set to leave its policy unchanged in President Mario Draghi's last decision. He may warn about economic deterioration. Germany has nominated Isabel Schnabel to the executive board of the ECB. Schnabel, considered a moderate, will replace Sabine Lautenschláger at the post. It may signal a shift in Germany opposition to loose monetary policy.

Source: https://www.fxstreet.com/analysis/eur-u ... 1910230923
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EURUSD Technical Analysis: A test of the 55-day SMA around 1.1050 stays on the table

678
mlawson71 wrote: Thu Oct 24, 2019 3:07 am Well, it's bearish for now. I think it will test 1.1100 for sure.
It's a bit of a smelly bum!

EUR/USD Technical Analysis: A test of the 55-day SMA around 1.1050 stays on the table

  • EUR/USD has managed to rebound from recent lows near 1.1100 the figure and advanced to the 1.1160/65 band earlier today, where it lost some vigour.
  • The expected dovish tone from the ECB event later today carries the potential to spark another challenge of the 1.1100 neighbourhood.
  • If the selling impetus gathers further traction, then the critical 55-day SMA in the mid-1.10s would become the next target of relevance.



Source: https://www.fxstreet.com/news/eur-usd-t ... 1910241003
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EURUSD erases gains, turns negative below 1.1100

680
Wasn't going to last long! :eh:

EUR/USD erases gains, turns negative below 1.1100


  • EUR/USD puts 1.1100 to the test on Friday.
  • German IFO surprised to the upside in October.
  • Daily upside capped by the 100-day SMA at 1.1130.

EUR/USD has erased its earlier gains to the vicinity of 1.1130 and is now navigating daily lows in sub-1.1100 levels.

EUR/USD under pressure on USD-buying

Spot has managed to regain buying interest after the key German IFO survey surprised markets to the upside for the current month, showing a tepid rebound from previous readings and allowing traders to assess the possibility that sentiment in the German economy could have bottomed out.

However, the up move lacked of follow through in the proximity of the 100-day SMA around 1.1130, motivating sellers to return to the market and force the pair to drop to lows in the sub-1.1100 area.

Other than the German IFO, the ECB published its Survey of Professional Forecasters (SPF), where the central banks has revised lower its prospects for inflation, real GDP growth and unemployment.

What to look for around EUR

The upside momentum in the pair has extended to the 1.1180 region on Monday, where it met some strong resistance and sparked a correction lower to the area below the 1.1100 mark in the wake of the ECB meeting. Despite the recent rally in spot has been exclusively sponsored by weakness in the Dollar, the outlook in Euroland remains fragile and does nothing but justify the ‘looser for longer’ monetary stance by the ECB and the bearish view on the single currency in the medium term at least. In addition, the possibility that the German economy could slip into recession in Q3 remains a palpable risk for the outlook and is expected to weigh on EUR in the short/medium term horizon.

EUR/USD levels to watch

At the moment, the pair is losing 0.04% at 1.1099 and a breach of 1.1093 (low Oct.24) would target 1.1044 (55-day SMA) en route to 1.0925 (low Sep.3). On the upside, the next hurdle aligns at 1.1171 (monthly high Oct.18) seconded by 1.1186 (61.8% Fibo of the 2017-2018 rally) and finally 1.1202 (200-day SMA).

Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/eur-usd-e ... streetnews (Article)
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