EUR/USD

The EURUSD advanced yesterday after being known a report citing internal tensions in the European Central Bank.
The representatives of the central banks of the Eurozone plan tomorrow to challenge Mario Draghi on its goal to increase the balance of the Bank.
The advance of the euro can be attributed to the fact that markets were waiting for a program of quantitative easing large-scale, but after the tensions and disagreements within the ECB reported, these expectations were lowered.
R3 - 1.26570
R2 - 1.26118
R1 - 1.25471
Daily Pivot - 1.25019
S1 - 1.24372
S2 - 1.23920
S3 - 1.23273
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Yesterday EURUSD is traded around 1.2490 after having fallen for a fifth day out of the last six as the pair is enjoying the strength of the American dollar.
Today we will have the ECB meeting on monetary policy that will certainly affect the market and the EURUSD. However, the 1.25 handle continues to be identified as the level where the battle is being waged right now. On Friday, the nonfarm payrolls will probably pronounce sentence.

The ECB Rate Decision comes out today and tomorrow we'll learn the change in the USD Non-Farm Payrolls. These events always provoke great volatility in the market but they are also an excellent opportunity for big profits. Good luck to everyone who are planning to trade when the news come out.

Today the ECB is in the spotlight.
Will take up to assess the real impact of stimulus measures announced in recent months, especially after the first estimate of CPI reveal an increase in the inflation rate.
Was tempted to pass the idea that there is unanimity on the ECB President and his administration.
The main concern of investors based on their ability to achieve the proposed targets.
R3 - 1.26570
R2 - 1.26118
R1 - 1.25471
Daily Pivot - 1.25019
S1 - 1.24372
S2 - 1.23920
S3 - 1.23273

takechance posted:

takechance posted:
Pulling back in a negative trend.

First short selling target entry at 1.2560. Next one probably 1.2700 or maybe before that depending upon the daily bars development in this week. The short entry from 1.2560 has the potential to yield about 120 pips with the profit target of 1.2440.

The short trade is nicely ripping some 100 odd pips now. Advice to hold it till 1.2440 reaches.

Nicely grabbed 120 pips and all positions closed.

The market is in bearish mood but perhaps bit oversold. Will wait for a rally towards 1.2630-40 area for freshly shorting this pair.

If the non-farm payroll comes our positive the EUR will be completely destroyed. 1.2200 is not far now.

Draghi speaks, everyone jump back into short position again. Strong NFP release tomorrow will lead this pair for more downside.

The dollar rose to fresh four-and-a-half year highs against a basket of other major currencies on Thursday as the euro weakened after European Central Bank President Mario Draghi reaffirmed its commitment to unconventional measures.

The US dollar index, which tracks the performance of the greenback against a basket of six major currencies, hit highs of 88.03 and was last up 0.42% to 87.88.

EUR/USD fell to lows of 1.2398, the weakest level since August 2012, from around 1.2525 ahead of the announcement and was last down 0.42% to 1.2430.

The drop in the euro came after Draghi said the ECB would soon start purchases of asset-backed securities. The program will run for two years, and have a “sizeable impact” on the ECB’s balance sheet Draghi said, moving it towards its 2012 levels.

He added that the governing council is unanimously committed to taking further “timely measures”, if needed.

The ECB left rates on hold at record lows at its policy meeting earlier Thursday, as widely expected.

The dollar was almost unchanged against the yen, with USD/JPY at 114.61, holding below the seven year highs of 115.52 struck overnight.

The greenback was boosted after the Labor Department reported that the number of people who filed for unemployment assistance in the U.S. last week fell by 10,000 to 278,000 from the previous week’s revised total of 288,000.

The report came a day after a strong U.S. private sector employment report and boosted the outlook for Friday’s nonfarm payrolls report.

The pound was close to one year lows, with GBP/USD down 0.39% to 1.5910 after the Bank of England left monetary policy on hold earlier.

Elsewhere, USD/CHF added 0.49% to trade at 0.9688.

USD/CAD rose 0.33% to 1.1424, not far from Wednesday’s more than five year highs of 1.1465.

The Australian and New Zealand dollars steadied following steep declines overnight as the rout in global commodity prices weighed.

AUD/USD was almost unchanged at 0.8589, holding above the more than four-year trough of 0.8554 struck overnight. NZD/USD slid 0.13% to 0.7717, not far from a 17-month low of 0.7668.

As i trade this pair on daily basis, i can tell ... the pair at critical support level.. i will wait for today's close to confirm long trade tomorrow. Then i will engage lower time frame with my VSA analysis to long the pair tomorrow.
I could comment on the pair every day

So could I.

''Danske Bank said the euro has further scope to fall versus the dollar, and has forecast Europe's common currency would drop to $1.20 over the next six months.'' With strong NFP , I think we might first see 1.23 be taken out soon enough.

If the market consolidated now onwards for a few days or a week, some resistance zones nearby may be created but right now the best confluence zone of my chart is at 1.2630-40 area.

1.2440 could be a weak resistance if the NFP remains neutral for the pair otherwise a favourable NFP can pull it back to my identified confluence zone.

Enjoy trading. :)

EURUSD fell during yesterday session to fresh Year lows at 1.2363. It appears that the market should continue to move lower, aiming for the 1.2050 level which is our longer-term support. Rallies at this point should be selling opportunities as EURO should continue depreciating f against the greenback.

Right now all eyes are focusing on the US NFP report and the Unemployment Rate Date, Eur/usd is trading below 1.24 as we speak, lacking any reversal signals may lead further decline.

What a week for eur/usd, poor NFP report failed to boost the Euro. We have a very tricky period ahead of us.

As usual the Non-Farm Payrolls had quite the effect on the market and provoked a lot of volatility. Whatever their effect I think the downward trend is as strong as ever and will reach 1.2200, perhaps even 1.2000.
Have a great weekend, everyone!

Well I think the Negative NFP effect was cancelled by the positive unemployment rate

As expected the European Central Bank left its interest rates unchanged reference.
The programs are expected to last at least two years in the approximate amount of 1 trillion euros.
German industrial production rose 1.4% in the previous month in September, which led to a strong recovery in exports and led to the growth of the trade surplus in September.
R3 - 1.26093
R2 - 1.25392
R1 - 1.24979
Daily Pivot - 1.24278
S1 - 1.23865
S2 - 1.23164
S3 - 1.22751

As expected poor NFP helped EUR to reach the first resistance zone 1.2440 as I predicted in my last post. The next shorting opportunity will come at 1.2540.

Good post, i will keep an eye on it now, thank you.