EUR/USD

EUR/USD: The pair jumped up today by nearly 100 pips, due to speeches from Jerome Powel. EUR/USD is now trading at the first possible support - 1.1370-70. The next support is located at 1.1410, followed up by 1.1460.

On yesterday session, the EURUSD initially fell but found enough buying pressure near 1.1267 to trim all of its losses and closed near the high of the day, in addition, managed to close above Tuesdays’ high, which suggests a strong bullish momentum.

The currency pair traded below the 10, 50 and the 200-day moving averages and all should provide a dynamic resistance.

The key levels to watch: a daily resistance at 1.1555, a daily resistance at 1.1459, the 50-day moving average at 1.1420 (resistance), the 10-day moving average at 1.1364 (resistance), October low at 1.1302 (support), a daily support 1.1236, 2018 low at 1.1214 (support) and 100 Fibonacci expansion at 1.1189 (support).

'In what could be a game changer in the medium term for stock and currency markets US Federal Reserve Chairman Jerome Powell has signalled during a speech on Wednesday the US Central Bank is close to where it needs to be with interest rates. Traders immediately began to price in the expectation the Fed may not raise rates in December and are currently only pricing in two more rate hikes in the coming 12 months vs the 4 they were expecting. The US Dollar was sharply lower following Powell’s comments with the Aussie and Kiwi Dollars sharply higher against the greenback as the Asian trading session opens. US stock indexes roared into life with the S&P 500 rising 2.5% for the day and pausing just below the 200 EMA on the daily chart. What has been causing the US Dollar to rise and stock markets to fall recently is US interest rates continually rising however the US Fed Chairman’s comments could be the end of the road for the US currency in the medium term and has the potential to send stocks back to their highs of 2018. The Fed was not going to be able to continue to raise rates at the same pace it has been for the past few years and Donald Trump will be licking his chops this morning after the man he openly criticized in recent days delivered just the speech the President was looking for. The Minutes from the latest US Fed meeting are due to be released today and may add more fuel to the fire that Jerome Powell lit on Wednesday.'

Andrew Barnett
LTG Goldrock
https://to121.infusionsoft.app/app/hostedEmail/46816589/d3cdf578f1747ceb?

It will go down, he reached 61.8% of correction

On Thursday, the dollar stabilized after a decline in the previous session, caused by statements in favor of a milder version of the monetary policy made by Fed Chairman Jerome Powell. Powell said interest rate was close to neutral. The euro exchange rate slightly changed against the dollar: 1.1371.

On yesterday session, the EURUSD initially fell with a narrow range but found enough buying pressure near 1.1388 to trim all of its losses and closed near the high of the day, in addition, managed to close above Wednesday’s high, which suggests a strong bullish momentum.

The currency pair closed above the 10-day moving average that should act as a dynamic support although is trading below the 50 and the 200-day moving averages, all should provide a dynamic resistance.

The key levels to watch: a daily resistance at 1.1555, a daily resistance at 1.1459, the 50-day moving average at 1.1418 (resistance), the 10-day moving average at 1.1358 (resistance), October low at 1.1302 (support), a daily support 1.1236, 2018 low at 1.1214 (support) and 100 Fibonacci expansion at 1.1189 (support).

EUR/USD: The euro fell on Friday after a weak report on the volume of retail sales in Germany. The EUR/USD pair slipped 0.46% to 1.1340. The volume of retail sales in Germany fell by 0.3% to a minimum in three months. Analysts predicted that this figure will grow by 0.4%.

On the last Friday’s session, the EURUSD fell with a wide range and closed near the low of the day, in addition, managed to close below Thursday low, which suggests a strong bearish momentum.

The currency pair closed below the 10-day moving average that should act as a dynamic resistance although is trading below the 50 and the 200-day moving averages, all should provide a dynamic resistance.

The key levels to watch: a daily resistance at 1.1555, a daily resistance at 1.1459, the 50-day moving average at 1.1410 (resistance), the 10-day moving average at 1.1346 (resistance), October low at 1.1302 (support), a daily support 1.1236, 2018 low at 1.1214 (support) and 100 Fibonacci expansion at 1.1189 (support).

Break below 1.1346 already. I am short and waiting for 1.302 as first profit level. Thanks for the levels they are working for me today

I took a quick short from 13350 down to 13270 ,1% profit , aware of the spike it had earlier on the hourly at 1320 was bullish, 1350 test next.

BluePanther posted:

snapdragon1970 posted:
Cheers Powell !

Yep, very nice move. I missed most of it though. 😞

You usually don't miss much , it was a boring trade till that happened.

Eur/Gbp heading for a breakout ,will we see 90 this week ?

On yesterday session, the EURUSD went back and forward without any clear direction, consequently closed in the middle of the daily range, in addition, managed to close within Fridays’ range, which suggests being clearly neutral, neither side is showing control.

The currency pair closed above the 10-day moving average that should act as a dynamic support although is trading below the 50 and the 200-day moving averages, all should provide a dynamic resistance.

The key levels to watch: a daily resistance at 1.1555, a daily resistance at 1.1459, the 50-day moving average at 1.1408 (resistance), the 10-day moving average at 1.1346 (support), October low at 1.1302 (support), a daily support 1.1236, 2018 low at 1.1214 (support) and 100 Fibonacci expansion at 1.1189 (support).

The EURUSD reaches the 55 day EMA at the 1.1419 level and finds a good resistance at that moving average to drop back down to its symmetrical triangle on the daily chart. The 1.1300 level may act as support, while the 1.1200 level is its most relevant support.

On yesterday session, the EURUSD initially rose but found enough selling pressure near the 50-day moving average at 1.1408 to reverse and closed near the low of the day, however, managed to close within Mondays’ range, which suggests being slightly on the bearish side of neutral.

The currency pair is trading above the 10-day moving average that should act as a dynamic support although is trading below the 50 and the 200-day moving averages, all should provide a dynamic resistance.

The key levels to watch: a daily resistance at 1.1555, a daily resistance at 1.1459, the 50-day moving average at 1.1403 (resistance), the 10-day moving average at 1.1339 (support), October low at 1.1302 (support), a daily support 1.1236, 2018 low at 1.1214 (support) and 100 Fibonacci expansion at 1.1189 (support).

AUDNZD: up trend eroded, but downside maybe limited from here?

On yesterday session, the EURUSD initially fell but found enough buying pressure near 1.1302 to trim all of its losses and managed to close near the high of the day, however, closed within Tuesdays’ range, which suggests being slightly on the bullish side of neutral.

The currency pair is trading above the 10-day moving average that should act as a dynamic support although is trading below the 50 and the 200-day moving averages, all should provide a dynamic resistance.

The key levels to watch: a daily resistance at 1.1555, a daily resistance at 1.1459, the 50-day moving average at 1.1400 (resistance), the 10-day moving average at 1.1340 (support), October low at 1.1302 (support), a daily support 1.1236, 2018 low at 1.1214 (support) and 100 Fibonacci expansion at 1.1189 (support).

I expect EURUSD to range for near term. Brexit is causing uncertainty in Europe so until that is settles Euro and GBP will range

YueWang posted:
AUDNZD: up trend eroded, but downside maybe limited from here?

No, AUDNZD will continue in his downtrend. On the monthly chart, he created a symmetrical triangle then broke its bottom. He will continue in its downtrend and the first support at 1.01694