Eur/usd - page 377
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The single currency broke in the two-day winning streak on Friday. The pair scored a positive week, adding nearly 50 pips. Bottom for the period was reached at 1.0710. Short-term attitudes remain positive, technically the pair is likely to test levels at 1.0995.
On the last Friday’s session the EURUSD initially fell but found strong support at the 50-day moving average and closed in the green, near the high of the day, in addition managed to close within the previous day range, suggesting that bullish momentum is settling in.
The pair closed above the 10 and 50-day moving averages that continue acting as a dynamic support.
The key levels to watch are: 200-day moving average at 1.1052 (resistance), previous swing high at 1.0992 (resistance), 10-day moving average at 1.0870 (support), the 1.0819 (support) and the 50-day moving average at 1.0807 (support).
January 2016 Eurozone Sentix index 9.6 vs 12.2 exp January 2016 Eurozone Sentix index report 11 January 2016
Comments from Sentix say that China tops the list of worries with many expecting a harder landing than what many think
EUR/USD is still under the resistance levels. price is forming double top on the 4 hours chart, my entry point for short will be under 1.0800.
EUR/USD is still under the resistance levels. price is forming double top on the 4 hours chart, my entry point for short will be under 1.0800.
Great job, and good luck with it.
EUR/USD falls considerably, amid continuing economic turmoil in China EUR/USD fell considerably on Monday, as currency traders kept a close eye on longstanding economic concerns in China.
The currency pair traded in a broad range between 1.0850 and 1.0970 before settling at 1.0858, down 0.0079 or 0.72% on the session. The euro is virtually flat against the dollar over the first few sessions of the new year after opening 2016 at 1.0860. EUR/USD is coming off a tumultuous year when it tumbled approximately 10% amid a sharp divergence in monetary policy between the Federal Reserve and the European Central Bank.
EUR/USD likely gained support at 1.0538, the low from December 3 and was met with resistance at 1.1496, the high from Oct. 15.
On Monday, the People's Bank of China (PBOC) attempted to soothe markets by setting the daily fix for the yuan against the dollar dramatically higher in comparison with its level at last week's close. While the Chinese currency surged against the dollar in offshore trade, Chinese equities continued to plunge – extending severe losses from the opening week of the year.
The PBOC set the yuan's midpoint at 6.5626 per dollar on Monday, substantially higher than last Thursday's level when it experienced its worst one-day decline in five months. Over the course of a trading day, the PBOC intervenes to prevent the exchange rate from drifting 2% above or below the midpoint. The PBOC devalued the yuan 1.6% last week, after lowering it by nearly 5% against the dollar in 2015 in an effort to stimulate its economy by boosting exports. Weak manufacturing and service sector data for December exacerbated fears that the world's second-largest economy finished last year with the slowest GDP growth in nearly a quarter-century.
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EUR/USD registered a decrease in the beginning of the new week. The euro depreciated by 60 pips against the dollar to a closing price of 1.0858. The session was held within the extremes at 1.0968 and 1.0848. In the short term prospects seem neutral, as immediate targets appear levels at 1.0995 and 1.0805.
On yesterday session the EURUSD tried to rally but found enough selling pressure to turn south and closed in the red near the low of the day, in addition managed to close below previous day low, suggesting a strong bearish momentum.
The pair closed below the 10 but above the 50-day moving average that continue acting as a dynamic support.
The key levels to watch are: 200-day moving average at 1.1049 (resistance), previous swing high at 1.0992 (resistance), 10-day moving average at 1.0861 (support), the 1.0819 (support) and the 50-day moving average at 1.0816 (support).
ECB's Villeroy says ultra low rates can lead to bubbles BOF gov and host of today's conference in Paris
And then what remains the question.
USD demand still prevailing with GBPUSD posting new lows of 1.4480 and the GBP TWI hitting 8 month lows of 89.2
EURUSD pinned around 1.0850
Pair is going down, yes.