Eur/usd - page 386
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Germany import price Index Dec mm -1.2% vs -1.1% exp Latest data now out
A mixed bag and not going to impact on euro directly.
Negative readings to continue while commodity prices remain undermined.
EURUSD 1.0876 still near session lows after failing above 1.0900
Euro recorded a third consecutive winning session against the dollar on Wednesday. The single currency justified the positive expectations and the couple made a test of resistance at 1.0917. The break of the key level has been delayed, but if bullish sentiment continue in the future, it will be overcome. Wednesday session started at a price of 1.0869 as trading was very volatile. Ultimately currencies reached a peak for the day at 1.0915 end session closed with 24 pips below.
On yesterday session the EURUSD rallied with a wide range and closed well in the green, near the high of the day, in addition closed above previous day high, suggesting a strong bullish momentum.
The pair closed above the 10 and the 50-day moving averages that now are acting as a dynamic support.
The key levels to watch are: The previous swing high at 1.0975 (resistance), the 50-day moving average at 1.0870 (support), 10-day moving average at 1.0864 (support) and a swing low at 1.0778 (Support).
well in my view, euro is still trading range bound while a stiff resistance is placed 1.098 levels, however personally i would not go long on this pair as there are also expectations that euro zone can induce more easing which is ultimately going to negatively impact the pair
The EUR/USD attacking the resistance level 1.0961 after the US dollar lost against the majors, i see that the the next level is 1.1000.
Finally EUR/USD is out of the range, only a close above resistance level 1.0900 will confirm the break. Next level 1.0970 then 1.1000
Intraday support is 1.0860, whose breach could lead price to neutral trading zone testing 1.0800 but important support remains at 1.0700. On the upside, a clear break above 1.0969 could trigger further bullish pressure testing 1.1060 and the trend line resistance. As long as price remains below the trendline, the bearish scenario remains valid.
The single currency recorded a strong increase against the dollar on Thursday. The euro registered a fourth consecutive winning session and as a result the resistance at 1.0917 was broken. If bullish sentiment continue, the pair may test the second key level at 1.1003. The session on Thursday opened at a price of 1.0891 and closed with 47 pips higher. Prevailing trend was bullish, as the peak of the day was reached at 1.0967.
On yesterday session the EURUSD rallied with a wide range and closed well in the green, near the high of the day, in addition closed above previous day high, suggesting a strong bullish momentum.
The pair continues to close above the 10 and the 50-day moving averages that are acting as a dynamic support.
The key levels to watch are: The 200-day moving average at 1.036 (resistance), the previous swing high at 1.0975 (resistance), the 50-day moving average at 1.0884 (support), 10-day moving average at 1.0872 (support) and a swing low at 1.0778 (Support).
EUR/USD: Euro Remains Above $1.09 After CPI data - The common currency remained in negative territory, a notch above the $1.09 handle after euro zone consumer prices confirmed expectations in January.
The annual euro area inflation rate doubled in January, a preliminary print showed on Friday, with the headline gauge still hovering deeply below the levels desired in the European Central Bank's (ECB) shiny Frankfurt headquarters. Consumer prices in the 18-nation euro bloc grew 0.4% on an annual and seasonally adjusted basis in the first month of the year, up from the 0.2% uptick seen in December.
The euro held above the $1.09 handle correcting the overnight spike to $1.0948 as demand for safe-haven currencies faded on the back of a third consecutive session of oil price gains. The EUR/USD was seen 0.21% lower at $1.0917 on Friday.
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