EURUSD Price Action Analysis - crossing 50.0% Fibo level at 1.0963 for downtrend to be continuing

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Sergey Golubev, 2015.06.07 18:21

EUR/USD forecast for the week of June 8, 2015, Technical Analysis (based on fxempire article)

The EUR/USD pair initially rallied during the course of the week, but then pullback in order to form a massive shooting star like candle. However, we broke the top of the hammer from the previous week, and did stay above there. Because of that we feel that there is bullish pressure underneath, and that this market will continue to go higher. We have no interest in selling from a longer-term perspective, but recognize that short-term buyers will probably continue to come back into this market again and again. If we can get above the 1.15 level, we are long-term buyers.

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Sergey Golubev, 2015.06.07 13:13

USD, EUR, JPY, GBP, AUD: Outlooks For The Coming Week - Morgan Stanley (based on efxnews article)

"EUR: Draghi Gives EUR Legs. Bearish.

The ECB did not push back against higher yields in the Euro Area, which could offer some near term support to EUR on the crosses. Should risk appetite fade, this could bolster EUR even further, as many European equity holdings are currency hedged, and therefore short EUR positions would need to be bought back as equities were sold. Once this positioning becomes clearer, we would look to sell EUR, as our medium term view on EUR has not changed."

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Sergey Golubev, 2015.06.07 07:14

EUR/USD Weekly Fundamental Analysis, June 8 -12, 2015 -Forecast (adapted from fxempire article)

The dollar got a lift on Friday as official data showed US businesses accelerated hiring and raised wages at a faster pace last month in a fresh sign the country’s economy is rebounding from the winter stall.

In a report that gives the Federal Reserve more reason to move toward an interest rate hike in the coming months, the Labor Department said Friday that the economy pumped out 280,000 jobs in May, far more than expected and well above the past year’s pace of 251,000 a month.

Meanwhile, the euro was down over 1 percent against the U.S. dollar as Greek debt crisis intensified.

Athens failed to repay a 300 million euros (333 million U.S. dollars) loan installment to the International Monetary Fund (IMF) Friday. On Thursday, the central bank of Greece formally requested the IMF to “bundle” its four payments due to the IMF this month amounting to approximately 1.5 billion euros (about 1.67 billion U. S. dollars) into one.

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Sergey Golubev, 2015.06.08 10:13

Skandinaviska Enskilda Banken (SEB Group) - Intraday Outlooks For EUR/USD, EUR/GBP and Gold (based on efxnews article)

EUR/USD: Bearish end to last week. The sought bid areas(1.1175 & 1.1113) were both passed after the stronger than expected NFP. The decline also made the pair end the week below the weekly mid body point (of the falling benchmark candle a fortnight ago) 1.1233 hence keeping weekly downside pressure intact (a lower high this week and the correction should be completed). In the hourly graph a bearish triangle has been created since the low point Friday afternoon so more selling should be in the pipeline.

EUR/GBP: Lower within the triangle. After having stalled and turned lower at the 78.6% Fibo point the pair on Friday accelerated the decline (that primarily should be targeting 0.7127 (78.6% of the recent advance). Below 0.7253 more supply is expected to hit the market.

Spot Gold: Targeting 1,153 next. Buyers responded to weekly losses before the closing bell rang on Fri, but with a medium-term "B-wave low" taken out the downside potential just increased and a short-term "Equality point" at 1.153 acts as primary attraction/resistance to explore. Lower targets at 1,143/38 also exist at least as long as not moving back over 1,204.