Eur/usd - page 486

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EUR/USD  started the week with an increase after posting significant losses a day earlier. The euro managed to advance by 20 pips to a closing price of 1.1173 to trade within 1.1197 and 1.1150. RSI moved up, but the price remains below the average values by making an unsuccessful attempt to break the psychological level at 1.1200. Breaking  1.1105 would confirm the downward trend. Support is located at 1.1105 and 1.1045. Resistance is seen at 1.1195 and 1.1280.

 

Yesterday the EURUSD rose with a narrow range but closed in the middle of the daily range, in addition managed to close within the previous day range, which suggests being clearly neutral, neither side is showing control.

 

The pair closed below all three moving averages 10, 50 and the 200-day that should act as dynamic resistances.

 

The key levels to watch are: a 61.8% Fibonacci retracement at 1.1347 (resistance), a daily resistance at 1.1237, the 200-day moving average at 1.1197 (resistance), and a daily support at 1.1097.
 
The EUR/USD is trading steadily in today's session as market participants anticipate the big decision on Wednesday. Low volatility can be expected in the couple of days before FED decides whether they are raising the interest rate this month. CMP 1.1180.
 

The EUR/USD pair was trading for shortly above the 1.1200 mark during the Europe session, but sloped donward in the afternoon and closed around  1.1160. Having in mind the upcoming Fed meeting tomorrow, the pair might meet 1.0505-1.1060 level or go to 1.1610 – 1.1280 area. This midway situation probably will be solved tomorrow. 

 

EUR/USD marked a decline on Tuesday session and wiped out the gains from the previous session. The euro depreciated by 20 pips against the dollar to 1.1150 after trading within 1.1213 and 1.1149. Bears remain in a leading position with a likely target 1.1105.

 
EUR/USD is trading to the downside on rumors that the FED is setting the stage for December rate hike. The pair is now 1.1133 and market participants are anticipating the FOMC meeting scheduled for 2PM Eastern today.
 

Yesterday the EURUSD tried to rally but found enough resistance to give back all its gains to the market and closed near the low of the day, although managed to close within the previous day range, which suggests being slightly on the bullish side of neutral.

 

The pair continues to trade below all three moving averages 10, 50 and the 200-day that should act as dynamic resistances.

 

The key levels to watch are: a 61.8% Fibonacci retracement at 1.1347 (resistance), a daily resistance at 1.1237, the 200-day moving average at 1.1199 (resistance), and a daily support at 1.1097.

 

Warning: Later today we have the Fed’s interest rate decision and monetary policy statement so expect high volatility in the currency pair.

 
The long awaited BoJ and Fed's meetings turned to be huge disappointment for the US dollar, as both bankers announced the will keep the interest rates unchanged. Following this the US dollar weakened and the EUR/USD pair dragged to 1.1184. The situation now is neutral to bearish.
 

Germany's finance ministry predicts slower H2 growth

German economic growth will slow in second half says the finance ministry

  • Citing weaker foreign demand causing industrial output to slow
  • Strong private consumption, higher state spending and rising construction activity helped the economy to grow by 0.7 percent in the first quarter and by 0.4 percent in the second ... "But the latest economic data indicate a slowdown in economic momentum in the second half of the year"
  • Growth in industrial orders nearly halted in July and factory output and exports unexpectedly fell
  • Expects subdued factory output for the rest of the year
  • The economy will continue to grow
  • Private consumption boosted by record-high employment, rising real wages, low inflation and relatively cheap energy
via Reuters
 

EURUSD triggers stops through 1.1210

EURUSD leading the charge higher as USD generally remains soft 22 Sept

Hearing that stop-loss buy orders have been triggered through 1.1210 to post 1.1228 in a rush.

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