The EUR/USD pair slupmed sharply after the negative Intalian vote. The pair tested the 1.05, a level that has not been visited since March 2015. RSI is placed at negative territory, the stochastic is showing strong bearish momentum. Current market price is 1.0573. Resistance is seen at 1.0605 while support is located at 1.0507.
EUR/USD reached a 20-month low today as the Italian referendum returned a 'No' vote. Prime minister Matteo Renzi said he will hand in his resignation tomorrow. The EUR/USD reached a low of 1.0505 and is now trading at 1.0595.
The single currency marked steady growth on Monday amid the negative result on the Italian referendum and the positive data on retail sales in the eurozone. The euro added 116 pips to 1.0763 and reached highest level at 1.0795. 1.0505 acted as support which technically led the EUR/USD pair to third consecutive day of increase. Bulls are now encouraged and next target appears to be 1.0820.
The euro has strengthened against its counterparts as yesterday's referendum turns out to be favoring the common currency. EUR/USD is now above 1.0750 and it looks like it is bound to go higher. In light of this, Gold price is falling, and the divergence between both is not a good indicator as they usually go in the same direction.
Well noble funds that was bold. It might go as you say but the Euro is in bad shape it might take a long time its never been one way road. The GBP has better chances though i might agree with that one . Still it could take some time as we are still in a strong bearish market so the corrections to the downside would be massive.
EUR/USD reached the resistance at 1.0800 and began consolidating sideways. Currently there are several candlesticks on the four-hour time-frame that indicate an impending move to the downside, namely a shooting star, a doji and a spinning top, and if that signal is valid the pair will likely reach the support at 1.0682, which coincides with the (MA)89 indicator on the same time-frame.
EUR/USD is seen flirting around 1.0800 , which is also acting as an immediate resistance for the pair. Euro’s rebound partly reflected the fact that markets were expecting a “no” vote in the Italy referendum. A fresh bout of short covering also helped pair to upsurge over 200 pips from session’s low. Attention is now paid to ECB meeting due on Thursday for further clarity in pair’s direction.
The posistive GDP data in the euro zone couldn’t support enough the euro during yesterday’s trading and session closed 47 pips lower to 1.0716. Currently the EUR/USD is trading sideways above 1.07 mark. A break above 1.0746 would lead the pair to test 1.08 levels. Support is seen at 1.0694.
Momentum and RSI are also moving flat on 1 hour chart. Add to that the effects from the Italian referendum and the possible risk of Italy leaving the Eurozone (if the opposition party wins the elections) and we get quite an unpredictable mid-term future for the currency pair.
The euro rose against the dollar on Wednesday. By the close of US trading EUR/USD was trading at 1.0750, gaining 0.30%. I believe that the support is now located at the level of 1.0503, Monday's low, and resistance is at the level of 1.0798 - Monday's high.
GBP/USD bounced off the support at 1.2600 after forming a doji candlestick on the four-hour time-frame and continued climbing. It's currently testing the resistance at 1.2680 and a breakout above that level will likely lead to a further move to the upside towards the previous high at 1.2770.
Finally some fast movements in the market today after the ECB Interest rate decision. Seems that the euro is regaining positions against the dollar. The pair seems a bit bearish now after the initial excitement. 1.0707 is a support to watch for.
I earlier made a prediction here that EURUSD is heading to 1.1100 first, before 1.2800. That prediction was neither technical nor fundamental; it is prophetic. When that voice has spoken, it implies that every support and resistance that will act as barrier have been removed already. Current session development confirms that voice.
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