Eur/usd - page 437
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
So how about next week EUR/USD movement? Is any trend going to change?
EUR/USD Weekly Outlook: Focus on Fed Speakers and US Data in Next Days
The European calendar starts on Monday with flash PMIs for May across the euro zone. Tuesday will bring German GDP figures for the first quarter, which should not change from the first estimate that showed a quickening from Q4 2015.
Later in the day, German ZEW surveys are due for May and a slight improvement is expected here as well. Moreover, the Eurogroup meeting starts in Brussels.
Wednesday will continue with the ECOFIN meeting held in Brussels, with German Ifo surveys for May following. There are no important macro data scheduled for Thursday or Friday.
read more
On the last Friday’s session the EURUSD rose with a narrow range and closed near the high of the day, but closed within the previous day range, suggesting being slightly on the bullish side of neutral.
The pair is trading below the 10 and the 50-day moving averages that are acting as dynamic resistances although still trading above the 200-day moving average that is acting as a dynamic support.
The key levels to watch are: The 50-day moving average at 1.1333 (resistance), the 10-day moving average at 1.1304 (resistance), a daily resistance at 1.1237, a swing low at 1.1141 (support) and a daily support at 1.1097.
EUR/USD: Euro Trades Near 1-Mth Low, Seeks to Limit Fall
The single currency was trading in negative territory against the buck during US market hours, but the euro managed to limit its losses despite several Federal Reserve (Fed) speakers openly acknowledging a potential rate hike at the upcoming Fed meeting in June.
Support for the buck began when Boston Fed President Eric Rosengren he pointed out strong labor market performance and confidence that inflation was on the path to the 2% target.
"The hawkish shift was again evident in comments over the weekend from Boston Fed President Rosengren, who stated that the US is on the verge of meeting most of the economic conditions that the Fed has set to increase rates next month,'' Bank of Tokyo-Mitsubishi UFJ currency analyst Lee Hardman mentioned. ''If the data continues to prove satisfactory, he would favor voting for a rate hike in June.''
In addition, San Francisco Fed John Williams said there were currently no major risks to financial stability, calling for two or even three rate hikes by the end of this calendar year. However, the buck's ability to push the pair lower was limited, taking into account the unexpectedly hawkish Fed tone already heard via its fresh meeting minutes last week.
On Monday, the EUR/USD declined 0.20% to $1.193 on Monday, falling from an intraday high at $1.1243 as traders digested flash PMI data from Germany and the European Union.
Looking at the bigger picture, the cross was seen near the one-month low of $1.1178, but the euro found a temporarily floor during the last three sessions. The current week is expected to be relatively calm in terms of economic news, however GDP updates from Germany and the US might have the potential to induce higher volatility and eventually influence the short-term trading path.
read more
Yesterday EURUSD went back and forward without any clear direction bur managed to close in the green, the middle of the daily range and closed within Fridays range, being clearly neutral, neither side is showing control.
The pair is trading below the 10 and the 50-day moving averages that are acting as dynamic resistances although still trading above the 200-day moving average that is acting as a dynamic support.
The key levels to watch are: The 50-day moving average at 1.1335 (resistance), the 10-day moving average at 1.1268 (resistance), a daily resistance at 1.1237, a swing low at 1.1141 (support) and a daily support at 1.1097.
On Monday, the euro was slightly elevated gainst the US dollar, but after a volatile session, added only 11 pips. The graphics continue to develop under moving averages, while the index of relative strength remained in neutral territory. Still the sentiment is bearish and may expect test of the support at 1.1100.
Resistance: 1.1286; 1.1450; 1.1630.