Eur/usd - page 454
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Agency refers to a conversation with "a dozen officials", familiar with the point of view of the ECB, without mentioning their names. Sources claim that the ECB found some confidence in the latter market rebound after the referendum.
At this news the quotes of the single European currency hit session highs (1,111).
Euro to Pound Sterling Forecast to See a Slower Ascent from Here
What a gift Brexit has been for those transferring euros into pounds - the rate has moved in your favour considerably. The question you may be asking is whether even better rates are coming your way?
The rapid climb from 0.76 to 0.82 has certainly turned the outlook for the exchange rate positive.
Often such moves shake up the underlying structure of the market in such a way that triggers a new trend.
However, the trend tends to be gentler, than the intial shock, therefore patience is required.
The EUR/GBP exchange rate has rallied up to a cluster of resistance levels which may halt the break-neck speed advance we have seen over recent days.
Levels of resistance to be aware of include a 7-year trend-line, and the R3 monthly pivot at 0.8394 - these techical levels are often used as launch pads by traders looking to profit on a counter-trend.
These levels are likely to prove a major obstacle to further gains and may result in a correction, with a possible move back down to 0.80 on the horizon.
If the up-trend extends higher, however, and breaks above the 0.8317 highs, that would confirm a move up to 0.8496.
The euro performed quite well against the UD dollar for third session in a row. The single currency pushed up with nearly 60 pips to a closing price of 1.1122, which is 110 pips higher since the beginning of the week. The upward movement reached 1.1129 and the intraday low was marked at 1.1048. First support is now located at 1.1090 and resistance is seen at 1.1185 and 1.1335.
Yesterday EURUSD rose again with a narrow range and closed near the high of the day, in addition managed to close above previous day range, which suggests a strong bullish momentum.
The pair managed to close above the 200-day moving average that mow should act as a dynamic support but continues trading below the 10 and 50-day moving averages that are acting as dynamic resistances.
The key levels to watch are: A daily resistance at 1.1237, the 10-day moving average at 1.1200 (resistance), a daily support at 1.1097, the 200-day moving average at 1.1082 (support) and Fridays low at 1.0912 (support).
The euro marked a moderate decline against the US dollar to 1.1106, broke the three-day winning run and closed second consecutive negative month. EUR/USD was trading in a relatively wide range, the intraday high was reached at 1.1153 and the low at 1.1023. Technically the sentiment is bearish, but a breakthrough of 1.1185 might change it.
Yesterday EURUSD initially rallied but found enough selling pressure to give back to the market all its gains but closed near the high of the day although in the red, in addition managed to close within the previous day range, which suggests being slightly on the bullish side of neutral.
The pair managed to close above the 200-day moving average that mow should act as a dynamic support but continues trading below the 10 and 50-day moving averages that are acting as dynamic resistances.
The key levels to watch are: A daily resistance at 1.1237, the 10-day moving average at 1.1179 (resistance), a daily support at 1.1097, the 200-day moving average at 1.1084 (support) and Fridays low at 1.0912 (support).