Everest Markets : Daily EUR/USD Pair Review
Wednesday, September 25, 2013
Everest Markets Daily EUR/USD Pair Review
EUR/USD intraday: the downside prevails.Pivot: 1.3520.
Our preference: SHORT positions below 1.352 with 1.345 & 1.3425 in sight.
Alternative scenario: The upside penetration of 1.352 will call for a rebound towards 1.355 & 1.358.
Comment: the pair remains under pressure and is challenging its support.
Friday, September 27, 2013
Everest Markets Forex CommentUS Dollar rose against most of its major counterparts on Thursday. On the US economic data front, initial jobless claims fell to 305K (325K expected) in the week ended September 21st from 310K (revised from 309K) the previous week. GDP rose at a 2.5% (2.6% expected) annualized rate in 2Q, according to data released by the US Commerce Department. Finally, pending home sales slid 1.6% MoM (-1% expected) in August after a downwardly revised 1.4% decline the previous month.
The British Pound was down against its major counterparts. UK 2Q GDP was confirmed at +0.7% QoQ. YoY, it was +1.3% vs +1.5% in prior estimation.
Everest Markets Daily EUR/USD Pair Review
EUR/USD intraday: under pressure.Pivot: 1.3510.
Our preference: SHORT positions below 1.351 with 1.3455 & 1.3425 in sight.
Alternative scenario: The upside breakout of 1.351 will open the way to 1.355 & 1.357.
Comment: the pair is rebounding but stands below its resistance.
Wednesday, October 2, 2013
Everest Markets Daily Forex Comment
US Dollarwas mixed against most of its major counterparts on Tuesday. On the US economic data front, ISM Manufacturing rose to 56.2 (55.0 expected) in September from 52.8 the previous month.
The Euro was mixed against its major counterparts. Euro zone PMI manufacturing was 51.1 in September in final estimation, as in prior one. In Germany, PMI manufacturing retreated to 51.1 in September in final estimation vs 51.3 in prior one. Separately, unemployment was up by 25K in September after a 9K increase in August. Economists expected a 5K drop. Unemployment rate rose to 6.9% vs 6.8% the month before.
EUR/USD Pair Review
EUR/USD intraday: the downside prevails.Pivot: 1.3535.Our preference: SHORT positions below 1.3535 with targets @ 1.349 & 1.347.
Alternative scenario: The upside breakout of 1.3535 will open the way to 1.356 & 1.3585.
Comment: the pair has broken below a rising trend line and remains under pressure.
Thursday, October 3, 2013
Everest Markets Daily Forex Comment
US Dollarwas under pressure against most of its major counterparts on Wednesday. On the US economic data front, MBA Mortgage Applications for the week ended September 27th fell 0.4%. Companies added 166K workers (180K expected) in September after a downwardly revised 159K gain the previous month.
The Euro was firm against its major counterparts. ECB’s Governing Council left its main refinancing rate at 0.5 percent. Mario Draghi said that ECB rates will stay low for an extended period of time.
Everest Markets Daily EUR/USD Pair Review
EUR/USD intraday: the bias remains bullish.
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[TD="colspan: 2"]Pivot: 1.3560.Our preference: LONG positions @ 1.3575 with 1.364 & 1.367 as next targets.Alternative scenario: The downside penetration of 1.356 will call for a slide towards 1.354 & 1.3505.Comment: the pair stands above its new support and remains on the upside.
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Friday, October 4, 2013
Everest Markets Daily Forex Comment
US Dollarwas under pressure against most of its major counterparts on Thursday. On the US economic data front, initial jobless claims rose by 1,000 to 308K (315K expected) in the week ended September 28th. ISM non-manufacturing index dropped to 54.4 (57.0 expected) in September from 58.6 the previous month.
The Euro was firm against its major counterparts. In Europe, euro zone PMI composite was 52.2 in September in final estimation vs 52.1 in prior one. PMI services was also revised on the upside at 52.2 vs 52.1 in first estimation. Separately, euro-zone retail sales increased 0.7% in August after a 0.5% gain in July (revised from +0.1%). Economists expected +0.2%. Germany PMI services was 53.7 in final estimation in September vs 54.4 in prior one.
Everest Markets Daily EUR/USD Pair Review
EUR/USD intraday: further upside.
Pivot: 1.3570.
Our preference:LONG positions above 1.357 with targets @ 1.3645 & 1.367.
Alternative scenario: The downside penetration of 1.357 will call for a slide towards 1.354 & 1.3505.
Comment: the pair stands above its new support and remains on the upside.
Friday, October 4, 2013
Everest Markets Daily Forex Comment
US Dollarwas under pressure against most of its major counterparts on Thursday. On the US economic data front, initial jobless claims rose by 1,000 to 308K (315K expected) in the week ended September 28th. ISM non-manufacturing index dropped to 54.4 (57.0 expected) in September from 58.6 the previous month.
The Euro was firm against its major counterparts. In Europe, euro zone PMI composite was 52.2 in September in final estimation vs 52.1 in prior one. PMI services was also revised on the upside at 52.2 vs 52.1 in first estimation. Separately, euro-zone retail sales increased 0.7% in August after a 0.5% gain in July (revised from +0.1%). Economists expected +0.2%. Germany PMI services was 53.7 in final estimation in September vs 54.4 in prior one.
EUR/USD Pair Review
EUR/USD intraday: further upside.
Pivot: 1.3570.
Our preference: LONG positions above 1.357 with targets @ 1.3645 & 1.367.
Alternative scenario: The downside penetration of 1.357 will call for a slide towards 1.354 & 1.3505.
Comment: the pair stands above its new support and remains on the upside.
Wednesday, October 9, 2013
Everest Markets Daily EUR/USD Pair Review
EUR/USD intraday: intraday support around 1.3555
Pivot: 1.3555.
Our preference: LONG positions above 1.3555 with 1.3605 & 1.363 in sight.
Alternative scenario: The downside penetration of 1.3555 will call for 1.3535 & 1.3505.
Comment: the pair is facing a pull back on its support ahead of a rebound.
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Wednesday, September 11, 2013
Everest Markets Daily EUR/USD Pair Review
EUR/USD intraday: the upside prevails.
Pivot: 1.3215.
Our preference: LONG positions above 1.3215 with 1.329 & 1.3315 as next targets.
Alternative scenario: The downside breakout of 1.3215 will open the way to 1.319 & 1.3155.
Comment: the pair is facing a pull back on its support ahead of further advance.