EURUSD Technical Analysis 2014, 12.10 - 19.10: Bearish Ranging - page 2
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Press review
newdigital, 2014.10.16 20:56
EURUSD Technical Analysis: Looking for sellers near the days midpoint (based on forexlive article)
The EURUSD is lower today and has been trading around the lows from 2013. Remember those lows came in at 1.2746 and 1.2757 respectively. The 50% of the move up from yesterday comes in at the 1.27526.The current price is trading around these levels.
The initial claims were much better than expectations. The 4 week moving average of 283.5 is the lowest since June 2000. That is pretty good. The Dow in pre-market is still down 192 and the S&P is down -25 points. Let’s see if that trend starts to turn on the much better than expected data, and the focus that the US is “relatively better”. It might need a stronger stock market first, however. A 10% decline from the top in the S&P comes in at 1817 area. The low yesterday came in at 1820.66. The S&P in pre market is trading down -26 from the close at 1862.
If the price is to go down, I will need to see the price head back below the 1.2746 level. From there the 100 hour MA should be tested again. Looking at the 5 minute chart, the pair just tested the midpoint of the days trading range (at 1.27738). This might be a level to lean against in trading this morning. I would not want to see a move above the high from last week at 1.2791 no matter what today. It would suggest something else is up (like stocks getting creamed and shorts covering).
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newdigital, 2014.10.17 06:58
EUR/USD Technical Analysis: Rebound Stalls Above 1.28 (based on dailyfx article)
The Euro recovered against US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above the 23.6% Fibonacci retracementat 1.2852 exposes the 38.2% level at 1.3070. Alternatively, a turn back below the October 13 close at 1.2750 opens the door for a test of the October 1 close at 1.2619.
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newdigital, 2014.10.17 14:55
2014-10-17 12:30 GMT (or 14:30 MQ MT5 time) | [USD - Building Permits]if actual > forecast (or actual data) = good for currency (for USD in our case)
[USD - Building Permits] = Annualized number of new residential building permits issued during the previous month. It's an excellent gauge of future construction activity because obtaining a permit is among the first steps in constructing a new building.
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U.S. Housing Starts Rebound More Than Expected In September
New residential construction in the U.S. increased by more than anticipated in the month of September, according to a report released by the Commerce Department on Friday, although the rebound did not completely offset the sharp drop seen in the previous month.
The Commerce Department said housing starts climbed 6.3 percent to a seasonally adjusted annual rate of 1.017 million in September after tumbling 12.8 percent to a rate of 957,000 in August. Economists had expected housing starts to rise to a rate of 1.008 million.
Building permits, an indicator of future housing demand, also rose 1.5 percent to a rate of 1.018 million in September from the revised August rate of 1.003 million.
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EURUSD, M5, 2014.10.17
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EURUSD M5: 38 pips price movement by USD - Building Permits news event