Eur/usd - page 398
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The euro broke a five-day losing streak against the US dollar and rose on Friday despite good data on US inflation.
The currency pair EUR/USD ended the week at 1.1129, raising on Friday with 0.22 percent, and since the beginning of the year the euro has risen nearly 2.5 percent against the green money. Data from the day showed that consumer confidence in the Eurozone declined for the past month.
EUR/USD dropped to $1.10 amid no fundaments news today. The greenback gained more than 100 pips.
That was impressive drop for the EUR/USD today and the support level at 1.1005 is under pressure of the strong US dollar, Breaking below will drive the the pair to the 1.0990 level.
Germany Q4 GDP final qq SA +0.3% vs +0.3% exp Final German Q4 GDP data now out
A mixed bag of final data with no shocks in the headline and with softer exports a concern but better than expected imports somewhat of a relief , albeit lower than prev. Encouraging cap and const investment readings.
EURUSD still tightly bound at 1.1037. EURGBP nudging higher again as GBP sellers return. GBPUSD has breached 1.4100 but bouncing a tad as I type.
The euro resumed its downward movement against the dollar on Monday. The single currency depreciated by 83 pips to a closing price of 1.1027. The daily limit values were reached respectively at 1.1123 and 1.1003. Technical outlook in the short term remains negative, but for further decline is needed breakthrough levels at 1.0960.
Germany IFO business climate Feb 105.7 vs 106.8 exp Latest German IFO data now out
Softer than expected/previous readings give the euro a little knock lower but dip demand still.
EURUSD 1.1028 EURGBP 0.7806 EURJPY 123.64
The German Ifo Business Climate Index rates the current German business climate and measures expectations for the next six months. It is a composite index based on a survey of manufacturers, builders, wholesalers and retailers. The index is compiled by the Ifo Institute for Economic Research.
source
Yesterday the EURUSD plunged with a wide range and closed near the low of the day, in addition managed to close below the previous day low, suggesting strong bearish momentum.
The pair is trading below the 10-day moving average acting as dynamic resistance however is still trading above the 50 and the 200-day moving averages that are acting as dynamic support.
The key levels to watch are: The previous swing high at 1.1376, a daily resistance at 1.1237, the 10-day moving average at 1.1132 (resistance), a daily resistance at 1.1097, the 200-day moving average at 1.1025 (support) and 50-day moving average at 1.0982 (support).
That was impressive drop for the EUR/USD today and the support level at 1.1005 is under pressure of the strong US dollar, Breaking below will drive the the pair to the 1.0990 level.
The resistance at 1.0990 tested today as i was expecting yesterday but the EUR/USD couldn't break below so it is good opportunity to go short.
EUR/USd attempted to test the support level and failed to break under, still waiting for a rebound sign or a break of the support.
EUR/USD: Pair Indecisive Around $1.10 The EUR/USD pair was spotted hovering around $1.10 during the EU session, flattish on the day. Volatility will probably pick up after London opens for trading. The 200DMA stands at $1.1050 and is a notable resistance, while the $1.10 level is a psychological support.
The question remains whether the expectations of further European Central Bank (ECB) easing in March had been already priced in and how much action the market anticipates from bank President Mario Draghi. Moreover, the bullish reaction on the EUR/USD pair back in December should be a warning to the ECB not to disappoint again.
Latest data from the ECB showed that deposits into the ECB deposit facility have been rising sharply, despite negative rates on this facility, and therefore further rate cuts might not be effective and are unlikely to spur inflation in the euro zone, when money is being parked back where it came from - the ECB.
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