EUR/USD: book profit near 1.0600 psy level (adapted from the article)
United Overseas Bank is suggesting to book profit near 1.0600 psy
level for short trades. The price is located below 100 SMA/200 SMA for
the primary bearish market condition with the secondary ranging within
1.0461 support and 1.1494 resistance level for the breaking 1.0673
support from above to below for the bearish trend to be
continuing. Psy level at 1.0600 is located far below 100 SMA/200 SMA in
the bearish area of the chart between 1.0461 support and 1.0673 support
levels but UOB is telling that this level will not be easy to be broken by the
price, and it is very unlikely to be broken for this week for example.
If price will break 1.1494
resistance level so the local uptrend as the secondary market rally
will be started within the primary bearish market condition.If the price will break 1.0673 support so the bearish trend will be continuing up to 1.0600 psy level.If not so the price will be ranging between the levels.
Technical Outlooks For EUR/USD by SEB (adapted from the article)
Skandinaviska Enskilda Banken estimated the real bearish target for
this pair as 1.0481 in the near future with stated that the price will be moved to 1.05/1.04
area soon. Let's evaluate the situation with the technical points of
As we see from the chart below - weekly price is on bearish
market condition located below 100 period SMA (100 SMA) and 200 period
SMA (200 SMA) with the ranging within the following key support/resistance levels:
price is breaking Fibo support level at 1.0634 from above to below on
open weekly bar for now for the bearish trend to be continuing with
1.0461 as the next real bearish target. RSI indicator is estimating the
bearish trend with non-oversold way.
Goldman Sachs: EUR/USD Targets into Fed December meetings (based on the article)
Goldman Sachs made a forecast for EUR/USD related to Fed December meetings: "Given that the beginning of 2016 is likely to bring renewed
vigour to risk-taking, we think it is perfectly possible for EUR/$ to
reach 0.95 – our 12-month forecast – by end-March." Let's evaluate the situation related to this pair in long term trend forecasting for example.
EUR/USD is likely to close on intermediate low (based on the article)
United Overseas Bank made a forecast for EUR/USD telling that the price will be closed on intermediate low: "The quick rebound from the overnight low of 1.0615 suggests that EUR/USD is likely close to making an interim low." Let's evaluate intra-day situation from the technical point of voew.
is located to be above SMA with period 100 (100-SMA) and SMA with the period
200 (200-SMA) for the primary bullish market condition with the ranging within the following key reversal s/r levels:
There are 3 scenarios for the price movement for now:
SUMMARY : bullish
Forex Weekly Outlook Nov. 23-27 (based on the article)
The dollar struggled after the meeting minutes but certainly recovered. US and UK GDP, US Consumer Confidence, Durable Goods Orders stand out . These are the main events on forex calendar. Here is an outlook on the highlights of this week.
Te Federal Reserve released the minutes of the Committee meeting held in October, leaving the door open for a rate hike announcement in December. Investors reacted by increasing the odds for a rate increase next month to 72%. Policy makers were confident that the US economy is strong enough to withstand a modest policy tightening and expect the central bank will succeed to balance between full employment and stable two percent inflation.
Weekly Outlook for EUR/USD by Morgan Stanley (adapted from the article)
Morgan Stanley made a fundamental forecast for EUR/USD related to the price movement - they estimated for this pair to be in ranging bearish in the near future up to the year-end for example: "EUR is likely to remain an underperformer in the current environment.
Monetary divergence between the ECB and the Fed should keep the
currency under pressure. The main risk to our EUR view would be a
selloff in risk into the first Fed hike. This would likely drive some
repatriation and funding unwinds, which would support EUR given its
funding status. Overall, we maintain our bearish view."
Let's evaluate this forecast from the technical point of view.As we see from the chart above - weekly price is located below 100 period SMA (100 SMA) and 200 period SMA (200 SMA) for the bearish breakdown: the price is trying to break 1.0600 psy support level from above to below for the bearish breakdown to be continuing. And the next nearest target with this situation is 1.0461 support level.
EUIR/USD: Looking for a move lower near 1.0590 and then 1.0461 (based on the article)
Barclays Capital made a quick technical EUR/USD forecast for this
week: "We are looking for a move lower towards targets near 1.0520 and
then the 1.0460 year-to-date lows." Let's evaluate this forecast
concerning the technical point of view using Metatrader.
EUR/USD: bearish ranging near key reversal levels.
Intra-day price (H1) is on bearish market condition located below 100
period SMA (100 SMA) and 200 period SMA (200 SMA) in the bearish area of
the chart. The price is located within the following key reversal s/r
Descending triangle pattern was formed by the price to be crossed for the bearish breakdown.
Forecast and Levels for EUR/USD (adapted from the article)
UOB Group made a forecast for EUR/USD concerning bearish trend resuming on daily price: "Only a daily closing below 1.0580 would indicate the start of a fresh bearish phase." Let's evaluate this forecast in technical point of view.
EUR/USD: bearish ranging.
This pair is
on primary bearish market condition located to be below 100 day SMA (100
SMA) and 200 day SMA (200 SMA) in the primary bearish area of the
chart. Price is ranging within the following key support/resistance levels:
RSI indicator's data is estimating the ranging bearish trend to
Strategists See EUR/USD at 1.04-1.05 Ahead of December ECB Meet (based on the article)
Jeremy Stretch of CIBC World Markets Inc:
From the technical point of view - daily price is breaking 1.0616 support for the 1.0565 level as the next bearish target. According to forecasts made by strategists - the price will be ranging within 1.05/1.04 levels which means the following - the price will be located within the following key support/resistance levels:
The strategy: watch close D1 price to break 1.0616 support level for possible sell trade with 1.0565 level as the next bearish target.
Skandinaviska Enskilda Banken (SEB) made a forecast related to EUR/USD with the stated that the pairs will be in more ups and downs: the price will break 1.05 and 1.04 support level before go up to 1.0830. It means the following: the price will be in ranging market condition with the following steps:
As we see from the chart above - the price is on bearish market condition for the breaking 1.0616 support level from above to below for the bearish trend to be contining with 1.0461 level as the next bearish target. Thus, SEB nmade a forecast that the price may touch this 1.0461 level from above and bounce from it to 1.0818 resistance area on the 'downs and ups' way.
The Strategy: watch the price to go to be near 1.0461 level to open buy trade.
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