EUR/USD

EUR/USD is trading relatively unchanged today gravitating towards 1.0625. The pair would face high volatility this week due to important financials tomorrow and on Wednesday.

The pair is still testing the support at 1.0600, but I don't expect a breakout before the fundamentals later this week.

Broke 1.06 slightly, but the dollar index is still struggeling to keep on gains above 101 sa the dollar struggle with gains in CAD, GBP and JPY. But is now being fairly supported at 100.60. 101.50 next if dollar overcome EURUSD 1.06?

It looks like central banks must not want the EURO to rise.

USD consumer confidence is down and yet the price of EUR/USD continue to fall.

Cryptocurrency posted:
It looks like central banks must not want the EURO to rise.

USD consumer confidence is down and yet the price of EUR/USD continue to fall.

Le Pen lead is way more scary then that democrats are less confident consumers.

csc2009 posted:

rosentray posted:
EUR/USD's next week should be interesting!

There are no important data scheduled next week in Europe and US, focus stay on political headlines, another word: ''Trump''.

Trump is not a word. Anyhow, there is important news coming soon for EURO.
The EURO german GDP.

EUR/USD looks more optimistic as we enter into the European session today. The pair is now 1.0623 as we have exciting news later today - a speech by Chair Yellen.

On yesterday session, the EURUSD initially rose but found enough selling pressure at Friday’s open to reverse and close near the low of the day, in addition the currency pair managed to close below Friday’s low, which suggests a strong bearish momentum.

The currency pair closed shy below the 50-day moving average that should act as dynamic support plus remains trading below the 10 and 200-day moving averages both should act as dynamic resistances.

The key levels to watch are: a daily resistance at 1.0900, other daily resistance at 1.0819, the 10-day moving average at 1.0697 (resistance), a daily support at 1.0622, the 50-day moving average at 1.0599 (support) and a daily support at 1.0462.

The EUR/USD pair broke below the bullish channel and the 200-day SMA. Further downward pressure might be increased in case of crossing below yesterday’s low at 1.0590.

Eyes on Yellen, will she opening the door to increase chances of a march hike, or kill it. That will etermine the direction the dollar will take. Also important if she still believes in 3 hikes this year, and the status of the economy.

If you look at the data that should give you a clue, Yellen only reacts to the latest data.

snapdragon1970 posted:
If you look at the data that should give you a clue, Yellen only reacts to the latest data.

Sure, but the question is rather what is good for the Fed. Which can be very different from what consensus and market expectations.

The Fed hasn't got a clue what its doing, boom and bust cycles , all its got is the latest data, make a nice report and look good.

EUR/USD is trading lower, having bottomed yesterday at 1.0560 and closing at 1.0577. The pair is vulnerable to the downside with first support seen at 1.0550. In case of breakdown next bears target is 1.0511.

On yesterday session, the EURUSD initially rose but found enough selling pressure at 1.0622 daily resistance to reverse and close near the low of the day, in addition the currency pair managed to close below Monday’s low, which suggests a strong bearish momentum.

The currency pair is trading 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 10-day moving average at 1.0678 (resistance), a daily resistance at 1.0622, the 50-day moving average at 1.0602 (resistance) and a daily support at 1.0462.

1.0520 and possible correction to 1.0620 🙄

EUR/USD is lower today due to Yellen's speech yesterday. The hawkish tone drove investors back to the US currency and now EUR/USD is trading at 1.0555.

It looks like the EURO is undervalued.
I've decided to buy more EUROs

I'm going to value the EURO at 1.09 to 1.10

EUR/USD found some support at 1.0520 but the move to the downside will likely continue. A breakout below that level will probably lead to a further drop towards 1.0440.