Eur/usd - page 360
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The forex strategists of Barclays Capital advised investors this week to consider sales of EUR/USD. From a technical point of view, from Barclays Capital provides EUR/USD to move towards 1.0460.
EUR/USD dropped under support line 1.0600 in the beginning of the week and we are having an important week ahead the market will have lots of volatility.
My eyes open wide on the EUR/USD this week, As it is seven months lowest today we have to get ready for the big moves.
Eurostoxx 50 futures up +0.4% in early European trading 1 Dec Firmer tones following on from Asian markets
Bund futures down 7 at 158.24
CS 1300 Index closes up +0.7%. Shanghai Comp Index +0.3%
On Monday session EUR/USD continued the negative performance for the fourth consecutive day. Ahead of the ECB meeting and expected further monetary stimulus, the euro fell by 25 pips and closed at 1.0563. During the whole session the single currency couldn’t break the key level at 1.0600. The sentiment is still negative and potential break of 1.0460 will intensify the bears presence.
Today is a great day for sales!
Yesterday the EURUSD fell making a new lower low although with a narrow range and closed in the red at the middle of the daily range, suggesting a shy pullback to the 10-day moving average.
However the 10-day moving average continues to push the currency down acting as a strong resistance.
The key levels to watch are the 1.0819 (resistance), a Fibonacci extension at 1.0703 (resistance), the 10-day moving average at 1.0627 (resistance), 1.0622 (Support), and 1.0462 (support).
The EUR/USD tested the 1.0636 resistance level unsuccessfully to fell to 1.615 level today, So most probably the pair will target the 1.0700 level tomorrow.
Again EUR/USD over 1.600 and now we will wait for the NFP on friday I doubt there will be much of sudden movemennt before that.
On Tuesday session the euro interrupted a four-day negative series and added nearly 70 pips against the dollar to a closing price of 1.0631. The trading passed within the extreme values 1.0636 and 1.0562. Relative strength index moved to positive territory, but the recent downward trend is still in force. Consecutive break of 1.0650 and the psychological level at 1.0690 will contribute to positive attitudes. The upcoming inflation data in the euro area and Yellen's comments will prove to be a key indicator for the pair.