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EUR/USD
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FXWES

Member Since May 01, 2015  675 posts FXWES Mar 09 2017 at 07:45
EUR/USD is moving to downside and currently is trading at weekly lows around 1.0535 – 1.0530. The euro is under pressure ahead of the ECB meeting, while the US dollar is generally stronger. As no surprised from ECB are expected, the pair is more likely to move even lower towards the 1.0500 handle.

besttools

Member Since Jun 21, 2016  898 posts bestools (besttools) Mar 09 2017 at 08:46

At the moment EUR/USD is gaining 0.10% at 1.0551 facing the next up barrier at 1.0582 (20-day sma) followed by 1.0608 (55-day sma) and finally 1.0643 (high Mar.6). On the other hand, a break below 1.0525 (low Mar.9) would target 1.0513 (low Mar.1) en route to 1.0499 (low Mar.3).

honeill

Member Since Apr 08, 2014  1105 posts Hugo O'Neill (honeill) Mar 09 2017 at 08:58
On yesterday session, the EURUSD fell but with a narrow range and closed near the low of the day, in addition managed to closed below Tuesday’s low, which suggests a strong bearish momentum.

The currency pair continues to trade below the 10, 50 and 200-day moving averages all should act as dynamic resistances.

The key levels to watch are: a daily resistance at 1.0900, other daily resistance at 1.0819, the 50-day moving average at 1.0644 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0569 (resistance) a daily support at 1.0527 and other daily support at 1.0462.

"I trade to make money not to be right." |
BaldoN

Member Since Feb 12, 2016  522 posts Baldo (BaldoN) Mar 09 2017 at 10:35
Hello,
ECB in focus this afternoon.
I do not believe the bid rate decision will move the market, but during the ECBs Press Conference would be nice picture :)

stian

Member Since Nov 14, 2015  311 posts stian Mar 09 2017 at 11:26
Think there might be a bit of optimism priced in. See several banks are hoping for s slightly more hawkish stance due to the latest inflation numbers, and German Bundesbank presidents optimism. But as it was mostly energy and core inflation remains below 1%, so don't think so. Might trigger a slide on dovish stance. And remain fairly capped by political risk on any hawkish rally.

rosentray

Member Since Feb 24, 2016  277 posts rosentray Mar 10 2017 at 08:30
EUR/USD continues to hover around 1.06 as market participants are expecting the latest NFP and jobs data. Price is expected to consolidate around current levels until the news release later today.

honeill

Member Since Apr 08, 2014  1105 posts Hugo O'Neill (honeill) Mar 10 2017 at 09:17
On yesterday session, the EURUSD initially fell but found enough support at 1.0527 to reverse and closed in the middle of the daily range, in addition managed to close within Wednesday’s range, which suggests being clearly neutral, neither side is showing control.

The currency pair closed above the 10-day moving average that should provide a dynamic support but continues to trade below the 50 and 200-day moving averages that should act as dynamic resistances.

The key levels to watch are: a daily resistance at 1.0900, other daily resistance at 1.0819, the 50-day moving average at 1.0644 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0571 (support) a daily support at 1.0527 and other daily support at 1.0462.

"I trade to make money not to be right." |
arigoldman

Member Since Oct 02, 2014  897 posts Ari Goldman (arigoldman) Mar 10 2017 at 12:50
Less than an hour to go before the NFP and Jobs data is released. My guess is lower than expected and a depreciation in the US dollar.

Positivity
stian

Member Since Nov 14, 2015  311 posts stian Mar 10 2017 at 13:04 (edited Mar 10 2017 at 13:06 )
Strong ADP points to a decent NFP. A good report should solidify the march rate hike. Dollar movement is unsure, as the rate hike is very much priced in.

victoriajensen

Member Since Jul 10, 2014  1107 posts victoriajensen Mar 10 2017 at 14:10
The fundamentals today pushed EUR/USD to the upside. The pair will likely reach at least 1.0680, which is the (MA)89 indicator on the daily time-frame.

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