Eur/usd - page 252
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
Since the start of April the EURUSD fell more than 0.5% and is still in a bearish phase, trading below the 10-day moving but bounce-off year low making an inside day. On yesterday session the pair initially fell but found enough buying pressure at Tuesday open to turn around and close near the high of the day. Stochastic is showing an oversold market but displaying bullish momentum and is below the 50 level.
EUR/USD: Dollar Falls to Weekly Low After Jobs & Housing Data
The buck dropped against the euro on Thursday, following a set of economic fundamentals that shed more light on the performance of the world's leading economy.
The dollar was down 0.47% at $1.0733, although rebounding after knee-jerking to a fresh one-week low $1.0767.
Earlier in the day, bulls pushed the greenback all the way toward $1.06 and an intraday high $1.0623 earlier in the day.
US builders broke ground on 2% more sites bringing starts to 926,000 in March, less than the 1.04 million expected by the market, and following an up-revised 908,000 starts in February, fresh data from the Department of Commerce showed on Thursday.
The authorities issued 1.039 million permits for future construction last month, noticeably less than the 1.081 million analysts had hoped for, after permits soared to 1.102 million in February
Initial jobless claims across the country rose to a seasonally adjusted 294,000 in the week ended April 11, the Department of Labor said in a weekly update on Thursday.
The Philadelphia Federal Reserve's (Fed) manufacturing survey for April is still ahead today and is expected to improve to 6 from 5 in March, but given the sharp drop seen in the Empire survey, the prospect of a miss can’t be ruled out.
Moreover, a number of Fed officials are set to speak later on Thursday, including Dennis Lockhart, Loretta Mester, Eric Rosengren and Stanley Fischer.
Earlier, Richmond Fed President Jeffrey Lacker emphasized that he still prefers hiking rates as soon as possible.
read more
I don't think it's a good time to enter the market now specially with the strong resistance 1.0785 and 1.0820 ahead of the price.
EUR/USD: Euro Set for Weekly Gains, CPI in Focus
The euro is poised for a weekly gain against the greenback, prompted primarily by yesterday's weakness in the US dollar.
Early this morning, traders will focus on the final EU CPI numbers for March, and while the annual rate is expected to improve to -0.1% from -0.3%, the month-on-month number is expected to jump sharply, from 0.6% to 1.1%.
The euro was trading 0.13% higher to $1.0774 ahead of the European open. The shared European currency added around 200 pips in gains over the week, moving from the area near $1.05 to $1.08.
"We could well go on to see further gains in the euro today, particularly if we see evidence that inflation is starting to edge up in the euro area, while remaining benign in the US," Michael Hewson from CMC Markets wrote on Friday
With the G20 and IMF meeting in Washington, Greece continues to remain front and center. Reports that IMF chief Christine Lagarde refused an informal request by Greek officials to delay an agreed payment saw sentiment take a small turn for the worst yesterday, with German bunds hitting a new record low of 0.073%, while Greek bond prices slid sharply.
"With no deal imminent and widespread skepticism that there ever will be, markets appear to be gearing up for when a Greek default happens, and not whether one happens," Hewson added.
Later in the day Greek Finance Minister Varoufakis, fresh from his meeting with President Obama, is scheduled to meet ECB President Mario Draghi, while stating quite clearly last night that Greece would not sign up for another version of extend and pretend.
Consumer prices will be in focus during the US session as well. US March CPI numbers are expected to tick higher, but core CPI needs to see an uplift to prevent further USD selling. US CPI for March is at 0.1% year-on-year and 0.3% month-on-month.
source
On yesterday session, EURUSD initially fell again but found enough buying pressure at 1.0622 daily support to turn around and close in the green near the high of the day. The pair is now trading well above the 10-day moving average and is ready to move to the 50-day moving average at 1.0887 or even go for the 50% Fibonacci retracement at 1.0925.
On the fundamental side all eyes are on the Eurozone and US Consumer Price Index (CPI) looking for clues on the inflation situation and the preliminary Reuters/Michigan Consumer Sentiment Index may also spur a volatile session.
Euro zone CPI -0.1% vs. -0.1% 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 -0.1%, from -0.1% in the preceding month.
Analysts had expected Euro zone CPI to remain unchanged at -0.1% last month.
EUR/USD pares gains after strong UoM report
The euro pared gains against the U.S. dollar on Friday, as a strong U.S. consumer sentiment report lent support to the greenback, while earlier euro zone inflation data continued to boost the single currency.
EUR/USD pulled away from 1.0849, the pair's highest since April 8, to hit 1.0771 during U.S. morning trade, still up 0.10%.
The pair was likely to find support at 1.0622, Thursday's low and resistance at 1.0888, the high of April 8.
In a preliminary report, the University of Michigan said its consumer sentiment index rose to 95.9 this month from 93.0 in March, beating expectationd for a reading of 94.0.
The UoM also said its inflation expectations for the next 12 months ticked down to 2.5% in April from 3.0% the previous month.
The data came after the U.S. Bureau of Labor Statistics said that consumer prices rose 0.2% last month, confounding expectations for an increase of 0.3%, after a 0.2% uptick in February.
Year-on-year, U.S. consumer prices fell 0.1% in March, compared to expectations for a 0.1% rise, after a flat reading the previous month.
Core consumer prices, which exclude food and energy, rose 0.2% last month, in line with expectations and after a 0.2% gain in February.
The euro remained supported however, as revised data earlier showed that euro zone consumer price inflation rose 1.1% last month, in line with expectations and up from a preliminary estimate of 0.6%. Euro zone inflation declined by 0.3% in February.
The rate grew closer to the European Central Bank's target of near but just below 2%.
Core CPI, which excludes food, energy, alcohol, and tobacco costs rose 1.4% in February, up from an initial estimate of 0.6%.
read more
Still price struggle with the resistance levels. I don't think we will see any break soon the rebound is the closest option.
EUR/USD forecast for the week of April 20, 2015
The EUR/USD pair initially fell during the course of the week, but found enough support at the 1.05 level in order to bounce and go higher. However, we think that the 1.10 level above is massively resistive, so at this point in time we are not willing to buy. In fact, we are simply waiting for some type of resistant candle in order to start selling yet again. We also believe that it will be easier to play this market off of the daily charts, as we feel the consolidation is probably going to contain this market for some time.
source
EUR/USD Forecast Apr. 20-24
EUR/USD managed to stage a nice recovery, mostly thanks to the US dollar’s weakness. Can it continue higher? German surveys, PMIs and yet another discussion on Greece stand out this week. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.
The ECB made no changes and also made it clear that it is too early to talk about QE tapering or any change to the deposit rate. The determination to push on with easing despite improving conditions was euro negative on its own, but far from being enough to keep the pair down. The US dollar experienced a series of disappointing figures from retail sales, industrial output, housing data and more. A spring bounce in the US is still awaited. Dollar bulls can cling to the better consumer confidence number for April. And in Europe, can the improvement beat the central bank?
read more