EUR/USD

EURUSD rose during the course of yesterday session, but lost steam just above the 1.25 handle. A break below the yesterday low we should see sellers coming into the marker and could then head to the 1.2250. The yesterday close above 1.25 handle may trigger a short squeeze.

EUR/USD couldn't break the resistance at 1.2570 and started descending again. That said, I think the movement to the downside is just part of the correction. I think the pair will break below the support at 1.2250 and continue the bearish trend in January.

again a break under yesterday candle was successful got 40 pips now I am waiting for a break under 1.2350 to decide to sell short.

honeill posted:
EURUSD rose during the course of yesterday session, but lost steam just above the 1.25 handle. A break below the yesterday low we should see sellers coming into the marker and could then head to the 1.2250. The yesterday close above 1.25 handle may trigger a short squeeze.

Great analysis for the day, thank you.

EUR / USD moved on a high with the preliminary PMI compound block within Euro to rise to 51.7 in December from 51.1 earlier, beating expectations of 51.1 market.
The EUR / USD had an additional boost after the second consecutive increase in the expectations index.
This may facilitate the continuation of an upward corrective phase.
R3 - 1.26616
R2 - 1.25885
R1 - 1.24659
Daily Std. Pivot - 1.23928
S1 - 1.22702
S2 - 1.21971
S3 - 1.20745
https://bewayopa.wordpress.com/

Abdul2012 posted:

honeill posted:
EURUSD rose during the course of yesterday session, but lost steam just above the 1.25 handle. A break below the yesterday low we should see sellers coming into the marker and could then head to the 1.2250. The yesterday close above 1.25 handle may trigger a short squeeze.

Great analysis for the day, thank you.

Very good! On the target.

Right now, my eyes on 1.2210, let's see how far can bears go.

peeterwoolf posted:
Right now, my eyes on 1.2210, let's see how far can bears go.

Let's see we can hit 1.22 this week.

EURUSD could not hold above the 1.25 level and fell during the yesterday session. The fall was quite substantial and the pair is ready to test the low of the year at 1.2246. In the short-term rallies will continue to offer selling opportunities.

honeill posted:
EURUSD could not hold above the 1.25 level and fell during the yesterday session. The fall was quite substantial and the pair is ready to test the low of the year at 1.2246. In the short-term rallies will continue to offer selling opportunities.

I agree with your great analysis, thank you.

EUR/USD fell and it appears it will likely try to test the support around 1.2250. Now the question is whether it will be able to break below that support or will range continue.

The EUR / USD sank yesterday after the comments to the Wall Street Journal from the member of the Executive Council of the ECB, Benoit Coeuré where suggested that the ECB was prepared to embark on large-scale purchases of assets centered in government bonds.
R3 - 1.26596
R2 - 1.25874
R1 - 1.24639
Daily Std. Pivot - 1.23917
S1 - 1.22682
S2 - 1.21960
S3 - 1.20725
https://bewayopa.wordpress.com/

the only support level left to break is the year's low let's see if the price will fall to 1.2200 before the end of the year

The price is getting close to this year low 1.2240, and is acting now as the immediate support level. If break below, we can probably see eur/usd selloff towards the 1.2150 price zone and maybe even further down.

csc2009 posted:
The price is getting close to this year low 1.2240, and is acting now as the immediate support level. If break below, we can probably see eur/usd selloff towards the 1.2150 price zone and maybe even further down.

I agree, but with profit taking day, I'm not sure it will happen today, let's see.

With inflation data coming in lower than expected and the USD as strong as it has been in years it is no wonder that the Fed feels no immediate pressure to begin raising rates.

Technically all of this folds in nicely with the long-term downtrend we have been watching, brought about by the bullish USD forecast and the dovish EUR forecasts.

Yesterday’s massive drop below 1.24 brought above 1.23, as expected, and then some as price is currently sitting at 1.2280.

Despite all my doubts the EUR/USD pair broke below the support level at 1.2250 before the holidays and is now headed for target 1.2200. Time will tell whether the next target is 1.2000.

You are right, Victoriajensen, Euro today continued downward for the second day against the Dollar, hitting this year new low of 1.2227, I guess we are now getting really serious heading to 1.2200.

Although there have been few news or events during the day, the foreign exchange market noted some relevant movements however the EURUSD was stable.
The German PPI for November fell though at a slower pace than in the previous month.
However, the risk of deflation in the largest economy in the euro zone still exists.
R3 - 1.24227
R2 - 1.23874
R1 - 1.23360
Daily Std. Pivot - 1.23007
S1 - 1.22493
S2 - 1.22140
S3 - 1.21626
https://bewayopa.wordpress.com/