Eur/usd - page 412
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The EUR/USD is trading lower today going as low as 1.1180. Main trend remains bearish, a consolidation around this level might be expected due to lack of fresh news to stir the market.
EUR/USD hit a new fresh intraday low at 1.1169. The continuing downward trend will direct price to the next support at 1.1100. Otherwise it will face resistance at 1.1286.
EUR/USD: Dollar Prolongs Pullback, Preps For Day 5 The EUR/USD was trading in negative territory on Wednesday, prolonging its falling streak to four sessions in a row amid the hawkish appearance of St. Louis President and FOMC voting member James Bullard and bouncing housing data.
''While there remains a high degree of scepticism amongst market participants over positioning for a Fed rate hike after Yellen’s very dovish press conference, the more Fed officials stress that each FOMC meeting is “live” the more market price action suggests market participants are beginning to listen,'' Bank of Tokyo-Mitsubishi UFJ analyst Derek Halpenny said.
Recently, the buck fought back in response to the Federal Reserve (Fed) cutting projections to just two rate increases in 2016. Moreover, the pair failed to breach a resistance at $1.135 after the first unsuccessful attempt in February, thus creating a double top formation on the daily chart.
On Wednesday, the euro currency declined 0.35% to $1.1177 against the greenback, falling from an intraday high at $1.1224 seen during Asian market hours.
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French manufacturing confidence March 101 vs 103 exp Latest confidence outlook data from France now out.
Meanwhile EURUSD still around 1.1160 but with EURGBP easing back to test demand between 0.7900-20. Cable had a look at 1.4100 but back to 1.4092 now.
The single currency registered a decrease against the dollar on Wednesday. The pair opened at 1.1214 and after a steady downtrend lost 35 pips. If the bearish trend continues, the pair will head to the support at 1.1100 in an attempt to break through.
Yesterday EURUSD fell again but this time with a narrow range and closed in the middle of the daily range, however managed to close below the previous day low, suggesting a bearish momentum.
The pair closed below the 10-day moving average that now should act as a dynamic resistance, however is still 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 1.1342 (resistance), a daily resistance at 1.1237, the 10-day moving average at 1.1205 (resistance), a daily support at 1.1097, and the 50 day moving average at 1.1086.
The EUR/USD is trading at support around the level of 1.1160. This is best seen on the daily chart. Price will either try to bounce off this level or break it and reach 1.1100. This week no major news are expected so we could see calm markets today and tomorrow.
The EUR/USD is trading in consolidation due to lack of fresh news. With holiday time today, the low volatility is driving away market participants to something more beneficial. Bulls need to push prices above 1.1180 as bears will try to bring them down to 1.1080.
Yesterday EURUSD initially but found enough support at 1.1143 a 38.2 Fib retracement, to reverse and close near the high of the day, however closed within the previous day range, suggesting a weak bullish momentum.
The pair is trading below the 10-day moving average that should act as a dynamic resistance, however is still 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 1.1342 (resistance), a daily resistance at 1.1237, the 10-day moving average at 1.1216 (resistance), a daily support at 1.1097, and the 50 day moving average at 1.1092.
Despite the fundamental jitters in US, the USD keeps steady positions. Agains the yen we witnessed an increase of 0.4%, against GBP - 2%. Menawhile the euro fell to an 8-day bottom, reaching 1.1144. Since the beginning of the week the single currency lost nearly 1 %.