Eur/usd - page 530

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The euro rose against the dollar on Monday. By the close of US trading EUR/USD was trading at 1.0768, gaining 0.61%. I believe that the support is now located at the level of 1.0587, the low of Thursday, and resistance is likely at the level of 1.0769 - the maximum of yesterday's trading.
 

EUR/USD closed higher yesterday at 1.0762 as the US Dollar is still weighed by the inauguration day. The price is moving above the moving averages and technical indicators head north. The attitude remains positive and a test of the 1.0800 level is very likely.

 

On yesterday session, the EURUSD rallied with a wide range but found and closed near the high of the day, in addition managed to close above previous day high, which suggests a strong bullish momentum.

 

The currency pair is trading above the 10 and 50-day moving averages should act as a dynamic supports but remains trading below the 200-day moving average that also should act as dynamic resistance.

 

The key levels to watch are: a daily resistance at 1.0819, the 10-day moving average at 1.0665 (support), a daily support at 1.0622, the 50-day moving average at 1.0567 (support) and a daily support at 1.0462.

 
Key levels to watch for:
Support: 1.0550; 1.0370;
Resistance: 1.0815; 1.0980.
 
The dollar was trading close to a 7-week low against a basket of other major currencies amid lingering market concerns about the protectionist policies of Donald Trump. The weakness of the dollar reflects concerns about the uncertain economic Trump policy, as well as fears that his protectionist stance can reduce corporate earnings and become a brake on economic growth.
On Monday, Trump has initiated a formal process of US withdrawal from participation in the Trans-Pacific Partnership (TPP). It separates the United States from its Asian allies.
Trump also announced his intention to renegotiate the North American Free Trade Area (NAFTA) with Canada and Mexico to the conditions more favorable for the United States.
The euro fell slightly against the dollar. The EUR/USD slipped by 0.1% to 1.0756.
 

France Jan mftg confidence 106 as expected


French Jan confidence report 25 Jan

  • 106 prev
  • business conf 104 vs 105 exp/prev
  • business survey overall demand 11 vs 3 prev revised down from 4
  • production out look indicator 8 vs 6 exp/prev
  • own-company production outlook 11 vs 8 exp/prev
 

On yesterday session, the EURUSD fell with a narrow range and closed near the low of the day, in addition managed to close within previous day range, which suggests being slightly on the bearish side of neutral.

 

The currency pair is trading above the 10 and 50-day moving averages should act as a dynamic supports but remains trading below the 200-day moving average that also should act as dynamic resistance.

 

The key levels to watch are: a daily resistance at 1.0819, the 10-day moving average at 1.0677 (support), a daily support at 1.0622, the 50-day moving average at 1.0571 (support) and a daily support at 1.0462.

 

Today the EUR /USD pair is slightly elevated, but holds within limited ranged. The pair topped today at 1.0768 and shortly afterwards retreated. Still the pair is being capped the strong resistance at 1.0770.

 
The EURUSD has had its bearish retracements, but it keeps the bullish trend, maybe tyring to reach the 1.0800 level.
 

Germany February GFK consumer sentiment 10.2 vs 10.0 exp


Germany February GFK consumer sentiment 26 Jan

  • 9.9 prev
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