Eur/usd - page 421
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EUR/USD is trading lower today due to technicals impacting price movement. The pair reached resistance a few days ago going to 1.1470 and then took it down 1.1295. Currently, the EUR/USD is trading at 1.1304 with first support at 1.1270 and first resistance at 1.1450.
The single currency recorded sharp drop against the US dollar on Wednesday. The pair lost 111 pips to a closing price of 1.1272. After a steady downtrend, the pair broke first support at 1.1286. In the short term bears will continue to dominate.
Yesterday EURUSD plunged with a wide range and closed near the low of the day, in addition managed to close below the previous day range, suggesting a strong bearish momentum.
The pair is trading below the 10-day moving average that is acting as a dynamic resistance but is above the 50 and the 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: A daily resistance at 1.1459, the 10-day moving average at 1.1379 (resistance), the previous swing high at 1.1342 (resistance), a daily support at 1.1237, the 50-day moving average at 1.1168 (support) and a previous swing low at 1.1144 (support).
Eurozone March CPI yy 0.0% vs -0.1% expected Final Eurozone March CPI data now out 14 April
Final headline reading and the rest of it looks ok. Still a long way to go though.
Eurostat note that the largest upward impacts to EZ annual inflation in March came from restaurants and bars, package holidays and rent.
Euro by and large holding onto gains seen into the data.
source
The EUR/USD reached 1.1233 in today's trading session and is currently trading at 1.1258. 1.1260 is support now and price might attempt to climb above this level and possibly close the week above 1.13.
Yesterday EURUSD initially fell but found enough support to trim some of its losses and closed in the middle of the daily range, however managed to close below the previous day low, suggesting a weak bearish momentum.
The pair is trading below the 10-day moving average that is acting as a dynamic resistance but is above the 50 and the 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: A daily resistance at 1.1459, the 10-day moving average at 1.1366 (resistance), the previous swing high at 1.1342 (resistance), a daily support at 1.1237, the 50-day moving average at 1.1173 (support) and a previous swing low at 1.1144 (support).
EUR/USD broke from the recent consolidation zone between 1.1330 and 1.1440. As long as the pair stays below 1.1330, the outlook remains bearish.
The EUR/USD is trading relatevely unchanged since yesterday's close as it seems to have been caught in a range between 1.1280 and 1.1240. A move to the upside might be expected as price is resting on a short-term support zone.
Euro Area Trade Surplus Shrinks in February The euro zone's trade surplus shrank for a second straight month in February, data revealed on Friday, as a mild rise in exports was offset by swelling imports.
The European Union’s statistics agency Eurostat said that after adjusting for seasonal variations, the 19-nation bloc's exports of goods to the rest of the world rose 1% to €161.4 billion during the second month of the year, while imports of goods added 2% to €141.5 billion.
As a result, the trade surplus shrunk to €19.0 billion, down from €20.0 billion in February 2015.
Slowing exports contributed to the bloc's economic slowdown experienced during the second half of last year, and investors now worry that this trend could continue even this year.
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EUR/USD forecast for the week of April 18, 2016 The EUR/USD pair initially tried to rally during the course of the week, but then turn right back around as the 1.15 level offered far too much in the way of resistance. The market then dropped below the 1.13 handle, but did find a little bit of support on Friday. In other words, we do have a negative candle, but ultimately it looks as if there is more than enough support below to continue to put a little bit of bullish pressure on this market. Nonetheless, we believe that the market needs to be traded from shorter-term charts.