Eur/usd - page 389
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
Yesterday the EURUSD rose again with a narrow range, but this time managed to close near the high of the day, furthermore closed above the previous day range, suggesting a strong bullish momentum.
The pair closed above the 10 and the 50-day moving averages that are acting as dynamic support.
The key levels to watch are: The 200-day moving average at 1.1028 (resistance), the previous swing high at 1.0967 (resistance), the 50-day moving average at 1.0893 (support), the 10-day moving average at 1.0874 (support) and the last swing low at 1.0810 (Support).
EUR/USD: Pair Rockets Over $1.1 After Raft of US Data The single currency rocketed some 90 pips on Wednesday, approaching the more than one-month old mark of $1.1 against the greenback following US labor and services data.
The ADP employment report from January moderated from 267,000 to 193,000, but still maintained a solid pace of employment growth.
Later in the day, the services PMI for January fell to 53.2, compared to 54.3 in previous month, beating the anticipated figure of 53.7 points.
From the euro perspective, France's services PMI ticked higher to 50.3 from 49.8 in January, while the German gauge decelerated to 55.0 from 56.0. The figure for the whole euro zone dropped to 53.6 from 54.2 previously.
"The slowdown in services expansion to a 12-month low in January will raise concern that heightened global economic uncertainty and financial market turmoil are weighing down on a reasonably decent but hardly robust euro zone cyclical upturn," Howard Archer, chief UK and European economist at IHS Global Insight, commented on the release.
read more
Great break through for the EUR/USD but the hourly resistance 1.1086 was stronger, waiting to see the 1.1100.
the market was waiting for the break over the resistance level 1.0900 and now price spiked over 1.1100 overall that is a good day.
The single currency recorded considerable profits on Wednesday session and thus managed to overcome its recent upwards range. The euro added nearly 200 pips to a closing price of 1.1102. The daily extreme values were reached respectively at 1.1137 over three-month high and 1.0903. The index of relative strength highlights the dominance of bulls as immediate goal appears to be 1.1105.
Yesterday the EURUSD rallied again with a wide range and managed to close near the high of the day, furthermore closed above the previous day range, suggesting a strong bullish momentum.
The pair continues to close above the 10 and the 50-day moving averages that are acting as dynamic support, and closed for the first time in three months above the 200-day moving average.
The key levels to watch are: The daily resistance at 1.1236, the daily resistance at 1.1097, the 200-day moving average at 1.1028 (support), the 10-day moving average at 1.0874 (support) and the 50-day moving average at 1.0893 (support).
The EUR/USD boost higher today above the daily resistance at 1.1192 and in my opinion it will climbs to the 1.1291.
Another good bullish day on EUR/USD but I guess there will be a pause here, on the 4 hours chart the market formed a doji which makes me cautious.
EUR/USD: Dollar Near 3.5-Mth Low, Tumble Continues After Factory Orders The dollar kept its losses versus the euro on Thursday, after an indicator of new factory orders for both durable and non-durable goods in America came in worse than expected in December.
The greenback was traded 0.81% lower at $1.1194 against the shared currency in the minutes following the factory orders report.
Earlier in the day, the EUR/USD pair briefly surpassed the $1.1200 handle against the backdrop of increasing selling bias around the dollar, marking the highest level since November 22 last year.
Total orders for manufactured goods plunged 2.9% in December, a notch lower than forecasts had been expecting, following a downward revised 0.7% drop in November, fresh figures from the Department of Commerce showed on Thursday. The November reading had originally shown a 0.2% decline.
EUR/USD: Euro Hovers Near $1.12, NFP in Focus Although the shared European currency kicked off Friday's session in red, it remains trading near its 3.5-month high versus the dollar, as the greenback suffered heavy losses this week on the back of weak US data.
The dollar index (DXY) has lost around 3% since last Friday's close and 2.3% in the last three days, with Wednesday being the worst single day for DXY in seven years.
The European calendar on Friday does not offer data that can rival the importance of the afternoon's US data, hence markets will fully focus on non-farm (NFP) payrolls later in the day.
In Germany, a fresh report showed factory orders dropped 0.7% in December on a monthly basis, after the 1.5% gain in November, while analysts had forecast a 0.5% fall. On a yearly basis, orders slipped 2.7%, compared to a fall of 1.4% expected by analysts, and following November's 2.1% gain.
The euro was seen slightly lower around the opening time for European markets, but still near the 15-week highs seen earlier in the session. The EUR/USD climbed to $1.1239 in the previous session, its highest since October 22. At the market open the common currency was seen 0.09% lower at $1.1196.
However, the ongoing concern that US jobs data will surprise on the downside might pave the way for further dollar weakness.
read more