Eur/usd - page 331
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Come on, it's time EURUSD went up!
German Gfk consumer climate 9.6 vs. 9.8 forecast
Germany’s Gfk consumer climate fell more-than-expected last month, data showed on Thursday.
In a report, research group Gfk said that its index of Germany’s consumer climate fell to 9.6, from 9.9 in the preceding month.
Analysts had expected Gfk consumer climate to fall to 9.8 last month.
The euro recorded a slight increase against the dollar on Wednesday. The single currency broke three-day losing streak and partially recovered positions. Thus the break of support at 1.1091 was postponed and short-term expectations remain in favor of the euro. The session was opened at a price of 1.1118 as early trend was neutral. Bullish sentiment appeared at the end of trading and peak of the day was hit at 1.1212. The session ended at 1.1184.
Yesterday the EURUSD initially fell but found enough buying pressure at 1.1097 daily support to reverse and close in the green near the high of the day with a wide range, creating a bullish engulfing pattern a sign that the short –term bulls are taking the control.
The currency closed above the 50-day moving average at 1.1171 (Support) suggesting further upward momentum in the next few days.
The key levels to watch today are 1.1237 (resistance), the 10-day moving average at 1.1258 (resistance), 1.1097 daily support and the 200-day moving average at 1.1081 (Support).
Yesterday the EURUSD initially fell but found enough buying pressure at 1.1097 daily support to reverse and close in the green near the high of the day with a wide range, creating a bullish engulfing pattern a sign that the short –term bulls are taking the control.
The currency closed above the 50-day moving average at 1.1171 (Support) suggesting further upward momentum in the next few days.
The key levels to watch today are 1.1237 (resistance), the 10-day moving average at 1.1258 (resistance), 1.1097 daily support and the 200-day moving average at 1.1081 (Support).Well ECB played its game, it said they will step up their efforts to combat deflation by stimulating the asset purchase program but on time quoting the ongoing global concerns which made Euro the winner of the day. well, a comment for stimulating the program should have sent euro downside but in this case euro strengthened as people expected the comments to be that it will start stimulate the QQE soon asap. 1.11 is acting as support for the pair now but 1.108 is actually a strong support for it
EUR/USD: Euro Toys With $1.12 as German Ifo Beats Estimates
The euro extended earlier gains in Thursday morning trade, after the German German Ifo business survey for September surprised on the upside.
The euro knee-jerked up 0.30% to $1.1220 following the German sentiment data, hitting its fresh daily highs, but retreated soon after to trade just below $1.1200 level minutes after.
The business climate survey in Germany for September strengthened slightly from 108.3 to 108.5, while a reading of 107.9 was anticipated. Analysts warn, however, that the survey does not include the recent Volkswagen scandal.
"If the survey were done today it seems likely that the outcome might well be more pessimistic," Michael Hewson wrote on Thursday.
It is probable that the cheating by Volkswagen will spread from the US to Europe as well, as tumbling markets already suggest. Volkswagen employs more than 270,000 people in Germany alone, and it is one of the largest employers in the EU.
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We have in 3 hours Yellen will speak, The market will have high volatility.
EUR/USD falls sharply after Yellen drops hints of a 2015 rate hike
EUR/USD fell sharply early on Thursday evening after Federal Reserve chair Janet Yellen sent strong indications that the U.S. central bank will likely raise short-term interest rates at some point this year.
The currency pair wavered between a low of 1.1165 and a high of 1.1296 before settling at 1.1181, down 0.0052 or 0.46% on the day. The euro has now fallen against the dollar in five of the last six sessions. Over the last month of trading, the euro is down by more than 1.6% against its American counterpart.
EUR/USD likely gained support at 1.1086, the low from September 3 and was met with resistance at 1.1442, the high from Sept. 17.
In prepared remarks for a speech at the University of Massachusetts-Amherst, Yellen emphasized that most of her colleagues will likely support raising the target range for the Federal Funds Rate at some point this year. Yellen's stance represents a stark contrast from her position last week when the FOMC only disclosed that 13 of 17 of its members were in favor of raising rates this year. Yellen had not personally associated herself with a rate hike since July.
Citing the negative effects of global economic weakness on U.S. inflation, the FOMC voted last Thursday to leave its benchmark Federal Funds Rate at its current level between zero and 0.25%. The Federal Funds Rate, the rate at which banks use to lend to other institutions on overnight loans, has remained at its current "zero-bound level," since December, 2008.
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Yesterday the EURUSD tried to rally but found enough resistance at 1.1295 giving back all its gains back to the market and close in the red near the low of the day with a wide range, creating a shooting star pattern a clear sign of strong bears coming into the market.
Although the currency still managed to close above the 50-day moving average at 1.1171 (Support) and a break below it would suggest a push downward to a daily support at 1.1097.
The key levels to watch today are 1.1237 (resistance), the 10-day moving average at 1.1237 (resistance), 1.1097 daily support and the 200-day moving average at 1.1081 (Support).
The euro recorded an insignificant increase against the dollar on Thursday. Bulls prevailed in the early hours of the session and the pair reached the peak for the day at 1.1295. Immediately afterwards followed correction and currencies returned to initial levels. The session finished at 1.1228, and ultimately the single currency gained only 44 pips. It is possible breakthrough of resistance at 1.1319 if expectations for a new uptrend justify.