Eur/usd - page 333
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
The single currency recorded a slight decline against the dollar on Friday after a relatively volatile session. The euro depreciated by nearly 25 pips to a closing price of 1.1204, reaching the bottom of the session at 1.1116. The week also brought losses for the currency pair even though the beginning was given at 1.1282. EUR/USD is trading below the low moving average , while the relative strength index fails to pass the positive territory, which supports bears in the short term. A break of 1.1170 will contribute to a further drop.
Important week ahead Yellen will speak on Wednesday 2 days before the NFP I expect high volatility in the market this week.
EUR/USD rises sharply as commodities, U.S. equities sell-off weigh
EUR/USD rose sharply on Monday, as a sell-off among commodities and U.S. equities weighed heavily on the dollar.
The currency pair wavered between a low of 1.1147 and a high of 1.1248, before settling at 1.1245, up 0.0046 or 0.41% on the session. Following a four-day losing streak last week, the euro has now closed higher against the dollar in four of the last five sessions. During a volatile stretch over the last five weeks, EUR/USD has traded as low as 1.10 and reached as high as 1.171. Over that span, the pair is down by roughly 1%.
EUR/USD likely gained support at 1.1088, the low from September 4 and was met with resistance at 1.146, the high from Sept. 18.
The dollar fell considerably on Monday in spite of continuing indications from the Federal Reserve that it will raise short-term interest rates at some point over the next several months. On Monday morning, New York Fed president William Dudley told the Wall Street Journal that the Fed is on track to hike rates before the end of the year and could reach its targeted goal for inflation at some point in 2016. In its inflation forecasts earlier this month, the Fed estimated that inflation would reach 1.7% by the end of next year and not hit 2.0% until 2018.
read more
The single currency started the week with a rise against the dollar, adding nearly 60 pips to a closing price of 1.1243. The session was held in the extremes at 1.1247 and 1.1147. The price managed to overcome the average values, while the relative strength index moved to positive territory, hinting for bulls in the short term. For additional growth, however, is needed a break of 1.1290.
Yesterday the EURUSD initially fell but found yet gain enough buying pressure below the 50-day moving average to reverse and close in the green near the high of the day with a wide range.
The currency broke above the 10-day moving average signaling that the bulls are in control in the short-term and we may see further push upward.
The next key levels to watch are 1.1460 (Resistance), 1.1237 previous resistance now support and the 10-day moving average at 1.1213 (Support).
Euro at Daily Lows as Risk-On Approach Emerges
The US dollar woke up and appreciated sharply against the euro, moving from daily lows to new daily highs as the pair was seen trading around $1.1220 during London trading hours on Tuesday. The US dollar started the day weaker, as sell-offs on equity markets dragged it down, however, as stocks recovered quickly, so did the greenback.
"The euro and yen have strengthened modestly in the Asian trading as they continue to derive support from more risk-averse trading conditions in the near-term. The ongoing correction lower in global equities has extended driven by heightened concerns over slowing global growth and the upcoming tightening of monetary policy by the Fed," analysts at Bank of Tokyo-Mitsubishi wrote on Tuesday.
The euro nearly touched the $1.13 mark, but a sudden change of traders' mood took the pair down to fresh daily lows around $1.1220. The USD/JPY pair was sharply rising, which buoyed stocks and equity indices erased their daily losses.
source
EUR/USD is trading in very narrow range around the opening price, I dont think there will be any sudden movement until the NFP this friday.
The single currency remained unchanged against the dollar on Tuesday, ending the session at 1.1246. EUR/USD marked a movement within the extreme values at 1.1280 and 1.1194. The price remains above average values, while the index of relative strength - in positive territory, which currently support the bulls. A break of 1.1290 will however confirm the positive attitudes.
Yesterday the EURUSD went back and forward without any clear direction but managed to close in the green near the open of the day with a narrow range, creating a doji pattern.
The currency is still trading above the 10 and 50-day moving averages, which still is a good sign for the bulls is although the previous close showed some indecision.
The key levels to watch are 1.1460 (Resistance), 1.1237 previous resistance now support and the 10-day moving average at 1.1207 (Support).
Euro sags as euro zone inflation turns negative in Sept
The euro lost ground on Wednesday as data showing euro zone inflation dipped back into negative territory in September fuelled expectations the European Central Bank will expand or extend its asset purchase programme.
The euro fell 0.4 percent to $1.1205, and was down 0.7 percent against the British pound, although it remained on track for a quarterly gain against the dollar.
"A weak number was expected and bolsters expectations that the ECB may have to expand its asset purchase programme from the 60-billion-euros-a-month to something larger, perhaps by year-end," said Richard Falkenhall, currency strategist at SEB.
"That is negative for the euro, but a lot depends on how stock markets behave. If stocks drop, then the euro is likely to be supported as they are going in opposite ways."
Euro zone prices fell by 0.1 percent on an annual basis in September after rising 0.1 percent last month, missing expectations for a zero reading and remaining well below the ECB's target of just under 2 percent.
While the ECB is focused on inflation expectations and inclined to look through falls in the headline rate, traders say a sustained drop below zero could reinforce policymakers' fears about the firmer euro's impact on financial conditions.
read more