Eur/usd - page 404
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EUR/USD reached an intraday high the erased the NFP-driven losses.
1.1000 seems to be a good support for the EUR/USD today, let us see if the pair will hold on over it.
The EUR/USD is trading higher due to the latest NFP's. The pair reached 1.1043 and hit right at the 200SMA. Price retraced and is now trading around the 1.10 level. Key resistance remains the 200SMA at 1.1050 while first support is 1.0975.
it is weird that price broke 1.100 even with positive NFP the USD dropped against the EUR.
EUR/USD Weekly Outlook: Market Awaits ECB to Set Direction he EUR/USD pair failed to test the ultimate support of $1.08 and returned to $1.10 instead, suggesting there are no extremely dovish expectations from the European Central Bank (ECB) meeting and there is a chance that the central bank will disappoint again.
The European calendar is filled with data in the coming week, although most are minor indicators with little impact expected on the euro. On Monday, German factory orders for January are expected to improve modestly from December's levels.
Tuesday will bring industrial production from Germany and Spain, with the euro zone's GDP print for the fourth quarter released shortly afterward. The quarterly change should stay at 0.3% in the fourth quarter, while the yearly print is expected to remain at 1.5%.
On Thursday, the anticipated ECB meeting is due, where the central bank is expected to ease monetary policy further. However, the ECB must be very careful not to disappoint markets as it did back in December when easing was announced, and mitigated by a strong rise in the euro.
"The euro picked up strength on Friday after a report suggested a lack of consensus at the ECB before its policy meeting next week. The report from MNI cited ECB sources as saying the central bank was ready to make further cuts to the deposit rate but that there was indecision over other unconventional measures that could be taken to address the ongoing low inflation," Jasper Lawler, market analyst at CMC Markets UK, said in an email on Friday.
Volatility will be most likely extreme after the decision, but it is impossible to predict the reaction as the consensus about the steps will not be unanimous. Therefore, chaotic trading may result.
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EUR/USD forecast for the week of March 7, 2016 The EUR/USD pair had a very volatile week, but by the time we closed on Friday we did up forming a bit of a hammer. The hammer of course is a very positive sign, so if we can break above the top of that candle, it’s very likely that we will grinder way to the top of the shooting star from a couple of weeks ago. That’s roughly 1.14 level. It still probably easier to trade this market from the shorter-term standpoint, but it does look like the buyers are starting to take over again.
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.
The euro registered a second consecutive successful session against the dollar on Friday. The session was extremely volatile, as the difference between the highest and lowest value for the day was 137 pips. The pair came up to the resistance at 1.1066 and if bullish sentiment continue in the future, it will be pierced soon. Trading on Friday started at a price of 1.0956 as at the beginning the trend was neutral. More serious changes were recorded in the afternoon when it was reached the peak for the day at 1.1040. The session closed at 1.1001.
On the last Friday’s session the EURUSD initially fell but found enough buying pressure at 1.0900 daily support to reverse and close near the high of the day, in addition managed to close above the previous day high, suggesting a strong bullish momentum.
The pair is trading above the 10, 50-day moving averages that are acting now as dynamic support however the pair did not had the strength to close above the 200 day moving average.
The key levels to watch are: A daily resistance at 1.1236, other daily resistance at 1.1097, the 200-day moving average at 1.1019 (resistance), 50-day moving average at 1.0993 (support), the 10-day moving average at 1.0947 (support) and a daily support at 1.0900.
Support: 1.0892; 1.0822;
Resistance: 1.1066; 1.1119.