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Euro
Ticker: EUR=
Price: $1.1921

Euro Outlook

The euro neared the $1.20 mark on Monday after it scaled another 28-month high and the dollar slipped to a multi-year low as investors bet the Federal Reserve’s policy framework meant U.S. rates would stay low for longer.

The euro reached $1.1997 in Asian trading hours, its strongest since May 2018, taking its gains to 7.5% in three months.

The Fed’s announcement last week that it would tolerate periods of higher inflation and focus more on average inflation and higher employment has encouraged traders to sell the dollar.

Euro/US Dollar Exchange Rate

Today’s Forex Rates

Euro/US Dollar FX Polls

Economic Events

Technical Indicators

Overall, the bias in prices is: Upwards.

The projected upper bound is: 1.21.

The projected lower bound is: 1.18.

The projected closing price is: 1.19.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 33 white candles and 16 black candles for a net of 17 white candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 68.3240. This is not an overbought or oversold reading. The last signal was a sell 10 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 63.45. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 10 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 93. This is not a topping or bottoming area. The last signal was a sell 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 17 period(s) ago.

Rex Takasugi – TD Profile

FOREX EUR= closed up 0.001 at 1.192. Volume was 93% below average (consolidating) and Bollinger Bands were 38% narrower than normal.

Open    High    Low     Close     Volume
1.191   1.193   1.191   1.192     7,862

Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish

Moving Averages: 10-period    50-period     200-period
Close:           1.19         1.16          1.12
Volatility:      6            7             9
Volume:          89,765       101,620       96,277

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX EUR= is currently 6.6% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods.

Our volume indicators reflect volume flowing into and out of EUR= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on EUR= and have had this outlook for the last 35 periods.

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