Eur/usd - page 387
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EURUSD dip buyers finding no joy Since the GDP release, the EURUSD has moved steadily to the downside. Looking at the 5 minute chart, the biggest corrective move off of a low bar has been about 12 pips. That does NOT give dip buyers any joy.
That type of price action tends to feed upon itself. Dip buyers, turn into sellers shortly thereafter as they get frustrated. Whoever is pushing lower, may have more to do into the month end. Traders who avoid these types of markets (there are those who skip Friday's and especially month end Friday's), increase liquidity risk.
The low from Tuesday come in at 1.0819, below that 1.0800. Below the 1.0788.
Normally, those levels would mean more to me, but as mentioned, the month end and Friday activity has my risk-o-meter at a higher level today. SO be careful on the dip buying. The sellers remain in control.
source
The single currency continued its winning series against the dollar on Thursday after oil prices rose sharply during the last days of speculation to reduce production, and thanks to the weak US economic data.
The strong US Dollar crashed the EUR/USD gain within the week but the pair bounced up of the hourly support at 1.0810, Looks like we gonna start over from we opening of this week.
you can see how strong is the market indecided with EUR/USD, once price broke above the sideways range you can see the next day how the price quickly returned 100 pips to stay inside the range of 1.0900 and 1.0800.
EUR/USD forecast for the week of February 1, 2016 The EUR/USD pair eventually broke back down after trying to rally during the course of the week. We close just above the 1.08 level, but more importantly formed a shooting star. If we can break below the 1.08 level, we could very well make a move down towards the 1.05 level, but it might be very difficult to deal with. Given enough time, we will get clarity but in the meantime this is probably going to be better trade it from a short-term perspective. Volatility is the one thing we can count on.
EUR/USD Outlook: 1st Week of February Filled With Macro Events Volatility might be higher in the coming week, but the euro is still found above the key support, which should halt any downside potential, unless broken. On the other hand, the upside potential seems limited by a lack of good news from the euro zone.
The European economic calendar starts on Monday, with manufacturing PMIs from across the euro zone. The print from the whole zone is expected to decline from 53.2 to 52.3 in January. Tuesday will bring only the unemployment rate from Germany and from the euro zone.
On Wednesday, services PMIs are due, with the aggregate number projected to tick lower from 54.2 to 53.6. Moreover, retail sales will be released from the euro zone, but should not cause any major market reaction. Friday will see German factory orders for December, which are volatile and they will therefore most likely have no impact on the euro.
From the US dollar perspective, many important figures will be released. Monday brings personal income and spending data for December, followed by the manufacturing PMI and ISM's manufacturing report.
read more
Exciting week ahead of us.
EUR/USD Weakness Masking The Truth - CIBC
Mario Draghi’s punishment for disappointing markets in December was swift, with investors bidding up the value of the euro during the following trading days.
Although EURUSD has settled down, the need for further easing is more dire than what’s suggested in just the EURUSD cross.
The trade-weighted euro index has been moving in the opposite direction. And it’s recent gains, which were the result of the sharp depreciation in sterling, will weigh on the monetary union’s trade sector.
As a result, despite the EURUSD cross trading weaker and bond yields very low already, look for the EUR to trade weaker as the ECB’s March meeting approaches .
On Friday session the single currency broke a four-day winning streak and erased most of weekly gains. The Euro lost 107 pips to a closing price of 1.0832. Trading passed within the final values 1.0947 and 1.0810. However, for the week EUR/USD managed to rise by nearly 40 pips. Technically the pair continues to move in a range, as break of levels at 1.0995 or 1.0790 will suggest prevailing attitudes.
Eurozone Markit mftg PMI Jan final 52.3 as exp Data now out
Nothing to glean from the final reading from the flash but lower than Dec.