Eur/usd - page 187
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EUR / USD remains limited below its falling trend line and moving average of 50 periods.
Is formed a symmetrical triangle that reflects the indecision of investors although it is usually a continuation pattern.
Thus the outlook for the EUR / USD are descended.
The good fundamental for the dollar are also matched by good technical staff.
The US currency recently achieved a major technical result.
Last week, the DXY index broke above the falling trend line 30 years the maximum March 1985. Technical analysts are awaiting the close above this trend line this week, somewhere above 87.0.
If so, you may mark the beginning of an upward long-term trend in US currency.
R3 - 1.25619
R2 - 1.25296
R1 - 1.24832
Daily Std. Pivot - 1.24509
S1 - 1.24045
S2 - 1.23722
S3 - 1.23258
price is forming a triangle on the 4 hour chart we might see another break on the price. with a low range of trading oonzthe break might be very soon
Dear Trader,
Fri, 14 Nov 2014
EURUSD WSS943 Signals
Buy 3rd Target (Overbought Price) at 1.2585
Buy 2nd Target (Reversal Price) at 1.2550
Buy 1st Target at 1.2516
Buy Area at 1.2493
WSS Pivot at 1.2470
Sell Area at 1.2447
Sell 1st Target at 1.2424
Sell 2nd Target (Reversal Price) at 1.2389
Sell 3rd Target (Oversold Price) at 1.2355
Trend Summary : BULLISH
German GDP grew +0.1% as expected – EUR/USD higher
No recession in Germany: the powerhouse economy managed to grow +0.1% in Q3, according to the preliminary release and didn’t suffer two consecutive quarters of economic squeeze.
EUR/USD is on the rise.
Germany, Europe’s largest economy, was expected to report a growth rate of 0.1% in Q3. This kind of preliminary read would evade a technical recession, after Germany contracted by 0.2% in Q2. Year over year, a growth rate of 1% was expected after 0.8% last quarter.
EUR/USD traded around 1.2430 towards the publication.
Earlier, France reported a better than predicted growth rate of 0.3% in Q3, but this was marred by a downwards revision of Q2 data.
With Eurozone inflation release relatively overlooked by markets, focus for the Eurozone instead turned towards the ECB professional forecaster survey. In terms of their outlook, they slashed their GDP and inflation forecasts for 2014, 2015 and 2016, with fixed income and equity markets responding in a manner that suggested this furthers the call for additional stimulus measures.
However, thereafter the pair traded in a relatively range bound manner with little else on offer to dictate the pairs price action. Looking ahead, all eyes will be on tomorrow’s slew of GDP releases from the Eurozone, with growth from France, Germany and the Eurozone expected to pick up from the previous quarter.
Euro zone CPI 0.4% vs. 0.4% forecast
Consumer price inflation in the euro zone remained unchanged last month, official data showed on Friday.
In a report, Eurostat said that Euro zone CPI remained unchanged at a seasonally adjusted annual rate of 0.4%, from 0.4% in the preceding month.
Analysts had expected Euro zone CPI to remain unchanged at 0.4% last month.
We have some good news today with the German and french growth it will not be long until the market will get effected by those data.
Greek growth rates put Germany, eurozone to shame
It took six years for Greece to escape recession, but, when it finally did, it did it with style.
The country scored a 0.7% growth rate in the third quarter, besting all other eurozone countries and even expanding faster than powerhouse Germany, which, in fact, barely dodged recession.
“Psychologically, this is important, and optimists will see this as a turning point in the Greek economy and that there is now light at the end of the tunnel,” said Nicholas Spiro, managing director at Spiro Sovereign Strategy. “The government can use this to show that the reforms have worked and try to negotiate a ‘clean’ exit from its bailout program.”
Prime Minister Antonis Samaras is not the only one likely to use the recent data as testimony that the country’s economic dieting has been successful. Germany, a major proponent of fiscal reforms and rigid austerity, is also seen as potentially arguing that the Greek efforts have not been in vain, according to Spiro.
“You can bet your bottom dollar that at some stage — provided that the recovery continues — they will use Greece as an example and proof that tough economic reforms and fiscal discipline work,” Spiro said. “This makes it even less likely that Germany will support any large-scale fiscal stimulus [such as sovereign-bond purchases].”
After six years of economic crisis, two bailouts and the imposition of unpopular austerity measures, Greece is far from out of the woods. Unemployment is stuck on the wrong side of 25%, and youth unemployment even worse, at above 50%, while public debt remains a major problem. Read: What Greece had to endure before its economy moved higher.
That’s why investors in the sovereign-bond markets haven’t cheered Greece’s apparent green shoots: The yield Friday on 10-year government bonds GR10YT, +0.00% was right around 8% — considered an unsustainable long-term borrowing level for governments.
“The essential contraction has been far more prolonged and deeper than anywhere in the eurozone,” said Timo del Carpio, European economist at RBC Capital Markets. “There is still a long way to get back to where Greece was before the crisis.”
source
EUR / USD remains limited below the moving average of 50 periods and within a symmetrical triangle formation.
There were some attempts to break the trendline short term, but none found much support.
Typically, triangles are symmetrical considered as a continuation pattern.
R3 - 1.2745
R2 - 1.2620
R1 - 1.2535
Daily Pivot - 1.2446
S1 - 1.2360
S2 - 1.2300
S3 - 1.2250
EUR/USD forecast for the week of November 17, 2014
The EUR/USD pair initially fell during the course of the week, but as you can see found enough support to turn things back around and form a nice hammer. Because of this, it appears the market is ready to bounce from here, and perhaps even go as high as 1.28 before it’s all said and done. Nonetheless, we do not like buying this pair and we do believe that eventually that any rally from here will simply represent value in the US dollar that will force people to come into this market and sell.