Euro: USD/EUR (EUR=X) bullish view put forward

Euro: USD/EUR (EUR=X) bullish view put forward

Euro: USD/EUR (EUR=X) bullish view put forward The inverse head-and-shoulders breakout seen in EUR/USD’s 4-hour chart validates the bullish view put forward by the falling channel breakout on Monday and represents a bearish-to-bullish trend change (transition from lower highs and lower lows to higher highs and higher lows).  As a result, the common currency could […]

Euro: USD/EUR (EUR=X) Rebound Still Possible

Euro: USD/EUR (EUR=X) Rebound Still Possible

Euro: USD/EUR (EUR=X) Rebound Still Possible The Euro-to-Dollar exchange rate saw a mixed start to the weekly session, with the Fiber initially pushing higher to post a session best above $1.133 before declining. From an overnight low of ~$1.293, the cross was last seen edging higher at $1.13115. The data schedule for the USD remains […]

Euro: USD/EUR (EUR=X) Rates Fall as Eurozone Economic Concerns Rise

Euro: USD/EUR (EUR=X) Rates Fall as Eurozone Economic Concerns Rise

Euro: USD/EUR (EUR=X) Rates Fall as Eurozone Economic Concerns Rise The Euro US Dollar (EUR/USD) exchange rate was hit several times this week, with disappointing economic data releases further exacerbating fears of a slowing Eurozone economy. The Euro started Monday subdued following the publication of the Irish construction PMI figures, which fell to 54.6. There […]

Battle Between Dollar Bulls and Euro: USD/EUR (EUR=X) Bears

Battle Between Dollar Bulls and Euro: USD/EUR (EUR=X) Bears

Battle Between Dollar Bulls and Euro: USD/EUR (EUR=X) Bears The price action last week suggests investors are being a little tentative about buying strength. In three sessions out of five, the dollar index rallied to highs not touched since early December before closing lower. On Friday, the dollar index reached its highest level since April […]

Euro: USD/EUR (EUR=X) knocked by dollar strength

Euro: USD/EUR (EUR=X) knocked by dollar strength

Euro: USD/EUR (EUR=X) knocked by dollar strength Yesterday’s EUR/USD rally ended with a fresh push to $1.126, with further losses so far this morning. Below $1.121, the price will head towards possible support at $1.1116. The bearish short-term view remains until we see a higher high created, with the $1.134 level as a near-term target. Overall, the […]

Euro: USD/EUR (EUR=X) recovers $1.13, but for how long?

Euro: USD/EUR (EUR=X) recovers $1.13, but for how long?

Euro: USD/EUR (EUR=X) recovers $1.13, but for how long? EUR/USD finally managed a substantial rally yesterday, moving off $1.126 and heading towards $1.134, but at present it looks like a lower high has been created. Further downside targets $1.126, and then to $1.1118. If bulls can hold the price above $1.126 and create a higher high, […]

Euro: USD/EUR (EUR=X) in ongoing correction

Euro: USD/EUR (EUR=X) in ongoing correction

Euro: USD/EUR (EUR=X) in ongoing correction The price of EUR/USD continues to push lower, falling below $1.13 support and heading to the November low at $1.1215. Further declines bring $1.1118 into view. Since September, substantial rallies have met with trendline resistance, and any push back towards $1.143 could well meet the same fate. So far, no change […]

Euro: USD/EUR (EUR=X) fast approaching major support zone

Euro: USD/EUR (EUR=X) fast approaching major support zone

Euro: USD/EUR (EUR=X) fast approaching major support zone EUR/USD is at 1.1320 at the start of the new week after falling 1.20% in the previous week’s trading. The outlook for EUR/USD is marginally bearish with our studies seeing a continuation of the recent decline. However, the pair is reaching a key support zone where further […]

Euro: USD/EUR (EUR=X) Bounce looks likely, a break would be reason to turn more aggressively short

Euro: USD/EUR (EUR=X) Bounce looks likely, a break would be reason to turn more aggressively short

Euro: USD/EUR (EUR=X) Bounce looks likely, a break would be reason to turn more aggressively short Last week, the Euro furthered weakness off confluent trend-line resistance. The move from resistance already has big support in view as the trading range remains quite narrow in historical terms. Only a small handful of times has the 6-month […]

Euro: USD/EUR (EUR=X) heading towards key support

Euro: USD/EUR (EUR=X) heading towards key support

Euro: USD/EUR (EUR=X) heading towards key support EUR/USD continues to fall, with a relentless move lower over the past four days. The price is now below the 50-day simple moving average (SMA), and further declines target the $1.13 level, previously support in late January. Aside from the mid-November spike lower. This has held as strong support […]

Euro: USD/EUR (EUR=X) breaks below key support levels

Euro: USD/EUR (EUR=X) breaks below key support levels

Euro: USD/EUR (EUR=X) breaks below key support levels EUR/USD has been continuing its descent as we move through the week, with a break below $1.1434 and $1.1406 negating the previous creation of higher lows. That points towards further downside, even if we are in retracement mode. Watch out for the 61.8% or 76.4% Fibonacci levels to […]

Euro: USD/EUR (EUR=X) consolidating after recent gains

Euro: USD/EUR (EUR=X) consolidating after recent gains

Euro: USD/EUR (EUR=X) consolidating after recent gains EUR/USD failed to really push on at the end of last week, with Friday’s rebound failing to gain enough traction to push the pair through the $1.1514 peak.That means we could be looking at a retracement, with the recent rally having moved into and reversed around the 76.4% Fibonacci […]

Euro: USD/EUR (EUR=X) bounce has plenty of resistance to contend with

Euro: USD/EUR (EUR=X) bounce has plenty of resistance to contend with

Euro: USD/EUR (EUR=X) bounce has plenty of resistance to contend with The Euro continues to be a difficult handle with volatility extremely low. The 3-month percentage range is the smallest it’s been since the doldrums of 2014. We may not be in for a massive move like the one that began then, but we are […]

Euro: USD/EUR (EUR=X) surges after FOMC

Euro: USD/EUR (EUR=X) surges after FOMC

Euro: USD/EUR (EUR=X) surges after FOMC The weaker dollar lit a rocket underneath the euro yesterday, and we have seen the EUR/USD price push back above $1.15. Further gains target $1.1554 and then $1.16 and the top end of the upward channel. The $1.14 area is key for possible support. Overall, the bias in prices is: Sideways. […]

Euro: USD/EUR (EUR=X) consolidating after recent ascent

Euro: USD/EUR (EUR=X) consolidating after recent ascent

Euro: USD/EUR (EUR=X) consolidating after recent ascent EUR/USD has been consolidating after Friday’s gains, with the pair in rebound mode from the critical $1.1301 support level. As mentioned yesterday, the 76.4% retracement level at $1.1299 points towards a potential that we are not rolling over after failing to create a new higher high. Instead, that could […]

Euro: USD/EUR (EUR=X) pushing higher after key support holds up

Euro: USD/EUR (EUR=X) pushing higher after key support holds up

Euro: USD/EUR (EUR=X) pushing higher after key support holds up EUR/USD managed to rebound from the $1.1301 support level on Thursday, with the pair driving higher since. While the wider creation of higher lows has been negated, last week’s drop took us into the 76.4% retracement of the $1.1215-$1.157 rally. Thus, there are arguments on both […]

Euro: USD/EUR (EUR=X) looks to build on Friday gains

Euro: USD/EUR (EUR=X) looks to build on Friday gains

Euro: USD/EUR (EUR=X) looks to build on Friday gains Having rallied sharply on Friday, bouncing off the $1.13 level, the EUR/USD price is back inside the rising trend channel, and also back above the 50-day simple moving average (SMA) of $1.139. Further gains target $1.1453, the 100-day SMA, and then on to $1.1554. Overall, the bias in […]

Euro: USD/EUR (EUR=X) still in trend channel

Euro: USD/EUR (EUR=X) still in trend channel

Euro: USD/EUR (EUR=X) still in trend channel EUR/USD continues to cleave to the rising channel, although we have yet to see a significant bounce. Yesterday saw the index hold the $1.134 area. If this remains the case, the bullish view suggesting a bounce back towards $1.15 remains in place. A close below $1.134 brings horizontal support […]

Euro: USD/EUR (EUR=X) back to channel support

Euro: USD/EUR (EUR=X) back to channel support

Euro: USD/EUR (EUR=X) back to channel support EUR/USD’s fall has continued, but it is now nearing the bottom-end of the rising channel. If a bounce from around these levels takes place, a higher low in the uptrend from November lows has been created. This might suggest a move back towards the top-end of the channel, […]

Euro: USD/EUR (EUR=X) falls into Fibonacci support

Euro: USD/EUR (EUR=X) falls into Fibonacci support

Euro: USD/EUR (EUR=X) falls into Fibonacci support EUR/USD has dropped into the 76.4% retracement amid a sell-off that has brought us back into a crucial area of support. The wider trend highlights the creation of higher highs and higher lows, thus pointing towards a possible bullish reversal in the near future. With an ascending trendline further […]

Euro: USD/EUR (EUR=X) tumbles into potential wider retracement

Euro: USD/EUR (EUR=X) tumbles into potential wider retracement

Euro: USD/EUR (EUR=X) tumbles into potential wider retracement EUR/USD fell below the $1.1422 mark, seemingly paving the way for a wider retracement for the pair. The break through $1.15 last week sparked a rise in the likeliness of an upside surge after this pullback. Despite us currently having broken into a lower low, we saw something […]

Euro: USD/EUR (EUR=X) back on a downward path

Euro: USD/EUR (EUR=X) back on a downward path

Euro: USD/EUR (EUR=X) back on a downward path Having rallied to $1.155, the price of EUR/USD has weakened again, and so far this morning further downward pressure is developing. The previous two sessions saw the pair find support around $1.145, but if this is lost then the lows from a week ago at $1.143 come into play. […]

Euro: USD/EUR (EUR=X) consolidating at Fibonacci support

Euro: USD/EUR (EUR=X) consolidating at Fibonacci support

Euro: USD/EUR (EUR=X) consolidating at Fibonacci support EUR/USD pulled back into the 76.4% retracement last week, with the price continuing to consolidate around that key support level. The ability to remain above that level is going to be crucial in determining where we go from here, for if we break below this $1.1456 support, it would […]

Euro: USD/EUR (EUR=X) busy week ahead

Euro: USD/EUR (EUR=X) busy week ahead

Euro: USD/EUR (EUR=X) busy week ahead For the Dollar, it’s a busy week ahead, with key stats including wholesale inflation and NY State PMI numbers on Tuesday, December retail sales figures on Wednesday and the Philly FED Manufacturing PMI and housing sector figures on Thursday. Following a choppy few weeks in the markets and with […]

Euro: USD/EUR (EUR=X) steady after sharp bounce

Euro: USD/EUR (EUR=X) steady after sharp bounce

Euro: USD/EUR (EUR=X) steady after sharp bounce The sharp rally yesterday has seen the EUR/USD pair move solidly above $1.15. Further gains target the 200-day simple moving average (SMA) at $1.1639, just above the mid-October peak at $1.162. If this current move higher marks the end of the $1.13-$1.15 trading range, then we look to the $1.1852 […]

Euro: USD/EUR (EUR=X) rising towards resistance zone

Euro: USD/EUR (EUR=X) rising towards resistance zone

Euro: USD/EUR (EUR=X) rising towards resistance zone EUR/USD is pushing upwards once more, as the pair seeks to continue creating higher highs. The wider picture for the pair looks like a gradual bottoming out process, with lower highs in October to December reversing to post higher highs since. This points towards a potential bullish breakout for […]

Euro: USD/EUR (EUR=X) returns to top end of range

Euro: USD/EUR (EUR=X) returns to top end of range

Euro: USD/EUR (EUR=X) returns to top end of range Yesterday’s rally saw EUR/USD head towards the $1.15 level once again, but this is still providing resistance, as it has since early November. A close above $1.15 would spark significant upside, targeting $1.1554 and then $1.1623. If the current range holds then the first target is the $1.13 […]

Euro: USD/EUR (EUR=X) pushing higher after recent decline

Euro: USD/EUR (EUR=X) pushing higher after recent decline

Euro: USD/EUR (EUR=X) pushing higher after recent decline EUR/USD has been falling back over the turn of the year, with the price dropping below the key $1.1305 level. To some extent, that fall into a new lower low could signal the start of a more bearish phase coming into play. However, with the price having […]

Euro: USD/EUR (EUR=X) Remains In A Prolonged Consolidation Phase

Euro: USD/EUR (EUR=X) Remains In A Prolonged Consolidation Phase

Euro: USD/EUR (EUR=X) Remains In A Prolonged Consolidation Phase Until we see this market fundamentally change, rates are likely to continue trading sideways. The intermediate-term top appears to be the 1.1500 handle, with the Swing Low at 1.1215 set up as support. These will be two important technical areas moving forward. If rates break from […]

Euro: USD/EUR (EUR=X) 2019 Targets Parity

Euro: USD/EUR (EUR=X) 2019 Targets Parity

Euro: USD/EUR (EUR=X) 2019 No Upside as Europe Fails Overall, the bias in prices is: Downwards. The projected upper bound is: 1.22. The projected lower bound is: 1.00. The projected closing price is: 1.14. Candlesticks A white body occurred (because prices closed higher than they opened). During the past 10 bars, there have been 5 […]

Euro: USD/EUR (EUR=X) rebound provides selling opportunity

Euro: USD/EUR (EUR=X) rebound provides selling opportunity

Euro: USD/EUR (EUR=X) rebound provides selling opportunity EUR/USD as managed to rebound substantially following a sharp deterioration yesterday. That sell-off follows on from the inability to continue creating higher lows, after Friday’s drop below $1.1364. Given this recent trend of lower highs and lower lows, the rebound seen overnight looks like a good selling opportunity. A […]

Euro: USD/EUR (EUR=X) rebounds in early trading

Euro: USD/EUR (EUR=X) rebounds in early trading

Euro: USD/EUR (EUR=X) rebounds in early trading Having dropped sharply in the wake of the Fed decision, EUR/USD has promptly recovered all its losses and is making another attempt to clear $1.14 and hold above the 50-day simple moving average (SMA) of $1.1389. Near-term targets to the upside are $1.1470, $1.15 and then $1.1554. The pair has built […]

Euro: USD/EUR (EUR=X) rallies through notable swing high

Euro: USD/EUR (EUR=X) rallies through notable swing high

Euro: USD/EUR (EUR=X) rallies through notable swing high EUR/USD has once again muddied the water, with the rally through $1.1393 providing a new higher high to negate the lower low formed with the break below $1.1305. That provides a potential bullish phase coming into play, which will likely be determined by affairs at the Federal Open […]

Euro: USD/EUR (EUR=X) rallies into possible selling zone

Euro: USD/EUR (EUR=X) rallies into possible selling zone

Euro: USD/EUR (EUR=X) rallies into possible selling zone The EUR/USD is making another attempt to break higher, spiking towards $1.137. But such surges have not turned out well over the past month. We would need to see a close above $1.14 to provide more evidence that this breakout has some strength behind it. Otherwise it will merely […]

Euro: USD/EUR (EUR=X) rallies back into trendline resistance

Euro: USD/EUR (EUR=X) rallies back into trendline resistance

Euro: USD/EUR (EUR=X) rallies back into trendline resistance EUR/USD has started strengthening after last week’s declines, with the price having rallied into trendline resistance. The break below the $1.1305 mark last week provides a bearish signal and allows greater confidence that this rally will fall short of the $1.1393 swing before breaking lower once again. Whether […]

Euro: USD/EUR (EUR=X) trapped within the 1.12-to-1.14 range

Euro: USD/EUR (EUR=X) trapped within the 1.12-to-1.14 range

Euro: USD/EUR (EUR=X) trapped within the 1.12-to-1.14 range The daily chart is showing what could be the beginnings of another move lower, but there is just to much current congestion on the chart. The open of the day was very near where the Tenken-Sen and Kijun-sen have been at, and they have not deviated much […]

Euro: USD/EUR (EUR=X) challenges trendline resistance

Euro: USD/EUR (EUR=X) challenges trendline resistance

Euro: USD/EUR (EUR=X) challenges trendline resistance Rallies for EUR/USD continue to be capped by trendline resistance from the October highs, with yesterday’s bounce faltering below this level. However, the pair is challenging this level this morning, so this is one to watch. Above $1.14 we may see a rapid break higher towards $1.1554. Meanwhile the sellers will […]

Euro: USD/EUR (EUR=X) tumbles from key trendline resistance

Euro: USD/EUR (EUR=X) tumbles from key trendline resistance

Euro: USD/EUR (EUR=X) tumbles from key trendline resistance EUR/USD managed to fall sharply yesterday, amid a burgeoning fiscal crisis in France. Interestingly, we saw the price respect the descending trendline that seemed to be negated on Friday. This has taken us into trendline and horizontal support, with the price currently consolidating marginally above the notable $1.1305 […]

Euro: USD/EUR (EUR=X) will fall to new lows in 2019

Euro: USD/EUR (EUR=X) will fall to new lows in 2019

Euro: USD/EUR (EUR=X) will fall to new lows in 2019 The Euro-to-Dollar exchange rate will fall to new lows next year, according to the latest forecasts from Barclays, as the European Central Bank (ECB) outlook darkens, political risks linger and the greenback remains top-dog in currency markets. The Dollar will remain dominant next year, Barclays says in its […]

Euro: USD/EUR (EUR=X) turning lower from Fibonacci resistance

Euro: USD/EUR (EUR=X) turning lower from Fibonacci resistance

Euro: USD/EUR (EUR=X) turning lower from Fibonacci resistance EUR/USD has managed to rally into the 76.4% retracement this morning, following on from a wider downturn from the 61.8% resistance at $1.1394. With a bearish, engulfing pattern looking likely from this resistance level, coupled with a wider bearish trend over recent months, another bearish period looks likely […]

Euro: USD/EUR (EUR=X) Expectations are tempered with volatility low

Euro: USD/EUR (EUR=X) Expectations are tempered with volatility low

Euro: USD/EUR (EUR=X) Expectations are tempered with volatility low CHOPPY EURO PRICE ACTION BUILDING A TRIANGLE The bad news is that price action of late has been choppy and uninspiring, unless of course you favor mean reversion or range trading, in which case this has been your market. The good news for those looking for […]

Euro: USD/EUR (EUR=X) given a boost by falling US dollar

Euro: USD/EUR (EUR=X) given a boost by falling US dollar

Euro: USD/EUR (EUR=X) given a boost by falling US dollar The weakening of the US dollar has prompted a sharp rebound in EUR/USD, and the price is now testing the area above the Monday high of $1.138. Further gains target the $1.147 area that was strong resistance earlier in the month. Some retracement of the sharp […]

Euro: USD/EUR (EUR=X) continues to break lower

Euro: USD/EUR (EUR=X) continues to break lower

Euro: USD/EUR (EUR=X) continues to break lower EUR/USD has been ramping up the selling in the wake of the reversal from trendline resistance. This continues the wider trend of lower highs, with a break below the $1.1216 level required to bring about a new lower low. With a long-term descending trendline down below, a break below […]

Euro: USD/EUR (EUR=X) back down as dollar recovers

Euro: USD/EUR (EUR=X) back down as dollar recovers

Euro: USD/EUR (EUR=X) back down as dollar recovers The sellers have reasserted their control over the last few days, with the EUR/USD’s rally towards $1.15 providing a selling opportunity. Below $1.13 the price heads towards to the $1.1215 lows of earlier in the month. In the short term, the price may bounce, but any move back towards […]

Euro: USD/EUR (EUR=X) rebounding amid recent breakdown

Euro: USD/EUR (EUR=X) rebounding amid recent breakdown

Euro: USD/EUR (EUR=X) rebounding amid recent breakdown EUR/USD has been breaking lower since hitting trendline resistance last week. The fall below trendline support led us to further declines, with the short term creation of lower highs and lower lows providing us with the potential of further downside from here. Given this recent period of weakness, there […]

Euro: USD/EUR (EUR=X) PMIs Point to Slowing Eurozone Economy

Euro: USD/EUR (EUR=X) PMIs Point to Slowing Eurozone Economy

Euro: USD/EUR (EUR=X) PMIs Point to Slowing Eurozone Economy The Euro avoided major losses against the US Dollar for most of the week, as investors sold the US Dollar from its highs amid profit-taking and speculation of a more dovish Federal Reserve. Multiple comments from Federal Reserve officials predicting that global growth would slow in […]

Euro: USD/EUR (EUR=X) uptrend intact for now

Euro: USD/EUR (EUR=X) uptrend intact for now

Euro: USD/EUR (EUR=X) uptrend intact for now The price for EUR/USD has recovered from the steep losses seen on Tuesday, leaving the uptrend from the November lows intact. Further gains above $1.1420 would target $1.1460, and then on to $1.1554. A move back below $1.1360 would invalidate the bullish view and give the sellers the upper hand. […]

Euro: USD/EUR (EUR=X) turns lower from trendline resistance

Euro: USD/EUR (EUR=X) turns lower from trendline resistance

Euro: USD/EUR (EUR=X) turns lower from trendline resistance EUR/USD has been selling off from trendline resistance this week, with a particularly deep rally coming close to the bullish breakout threshold of $1.15. However, for now we are caught between two trendlines, with the price rallying back towards the resistance once more. A break through $1.15 would […]

Euro: USD/EUR (EUR=X) pushes higher for now

Euro: USD/EUR (EUR=X) pushes higher for now

Euro: USD/EUR (EUR=X) pushes higher for now EUR/USD has continued to climb, breaking through trendline resistance and targeting the $1.15 level, the high from early November. From here $1.1554 and then $1.162 come into play. The steep rally over the past few days could begin to moderate, but dips to $1.138 could find buyers. Overall, the […]

Euro: USD/EUR (EUR=X) rallies into deep retracement level

Euro: USD/EUR (EUR=X) rallies into deep retracement level

Euro: USD/EUR (EUR=X) rallies into deep retracement level EUR/USD has been regaining ground, with the pair moving into the crucial 76.4% retracement at $1.1433. There is a high likeliness that we are seeing a retracement in play here, with a break above $1.15 required to negate the premise that this a short-term pullback before we see […]

Euro: USD/EUR (EUR=X) still stuck in downtrend

Euro: USD/EUR (EUR=X) still stuck in downtrend

Euro: USD/EUR (EUR=X) still stuck in downtrend EUR/USD has rallied off the lows but remains in a broader downtrend from the highs of September. A failure to push on above $1.135 would signal that we have more declines ahead, while a rally above this level would head towards $1.1554. Overall, the bias in prices is: Downwards. […]

Euro: USD/EUR (EUR=X) still stuck in downtrend

Euro: USD/EUR (EUR=X) still stuck in downtrend

Euro: USD/EUR (EUR=X) still stuck in downtrend EUR/USD has rallied off the lows but remains in a broader downtrend from the highs of September. A failure to push on above $1.135 would signal that we have more declines ahead, while a rally above this level would head towards $1.1554. Overall, the bias in prices is: Downwards. […]

Euro: USD/EUR (EUR=X) rebound unlikely to last

Euro: USD/EUR (EUR=X) rebound unlikely to last

Euro: USD/EUR (EUR=X) rebound unlikely to last EUR/USD has been gaining ground following last week’s sell-off, with the selling pressure easing somewhat. However, the wider bearish trend remains intact, and there is a strong chance that this rebound is going to falter before long. With that in mind, watch for a potential bearish reversal in the […]

Euro: USD/EUR (EUR=X) bounce falters

Euro: USD/EUR (EUR=X) bounce falters

Euro: USD/EUR (EUR=X) bounce falters EUR/USD has plumbed to a new low, continuing its extended downtrend and heading towards possible support at $1.111. A rally will target $1.13, previous key support, while above this the November high at $1.15 comes into play. Having rallied from oversold intraday conditions, it will be important to watch the $1.126 […]

Euro: USD/EUR (EUR=X) could weaken further to the next support at 1.1220

Euro: USD/EUR (EUR=X) could weaken further to the next support at 1.1220

Euro: USD/EUR (EUR=X) could weaken further to the next support at 1.1220 There is not much to add to last Friday’s (09 Nov, spot at 1.1365) update. As highlighted, the sharp and rapid drop from last Wednesday (07 Nov) peak of 1.1500 indicates there is scope for EUR to retest the major 1.1300 support. The […]

Euro: USD/EUR (EUR=X) rallies through resistance

Euro: USD/EUR (EUR=X) rallies through resistance

Euro: USD/EUR (EUR=X) rallies through resistance The EUR/USD pair mounted an impressive bounce above trendline resistance, and while it then retraced to the line, it posted a classic bounce. Dip buyers came in around $1.14, suggesting that we have seen a bullish move develop. Further gains target $1.15 and then $1.1554. Higher lows have been put in […]

Euro: USD/EUR (EUR=X) pushing upwards amid dollar weakness

Euro: USD/EUR (EUR=X) pushing upwards amid dollar weakness

Euro: USD/EUR (EUR=X) pushing upwards amid dollar weakness EUR/USD has been pushing higher, in a continuation of the strength seen throughout November thus far. With the price rising through the 50% retracement, there is a strong chance we will see the pair continue to gain ground over the near term. A break through the $1.1622 mark […]

Euro: USD/EUR (EUR=X) sees upward momentum falter

Euro: USD/EUR (EUR=X) sees upward momentum falter

Euro: USD/EUR (EUR=X) sees upward momentum falter The price of EUR/USD has rallied from the lows of last week, but has failed to push higher. As a result, we may see bearish momentum develop without a close above $1.1450. Further declines target the $1.13 level of support, which held in August and October. Below this the $1.1118 […]

Euro: USD/EUR (EUR=X) pulling back after recent bullish break

Euro: USD/EUR (EUR=X) pulling back after recent bullish break

Euro: USD/EUR (EUR=X) pulling back after recent bullish break EUR/USD has been moving lower since Friday morning, coming off the back of a trendline breakout. The fact that we saw a move that barely even reached the 50% level points towards the possibility of further upside. With that in mind, the current pullback looks like a […]

Euro: USD/EUR (EUR=X) promising signs of major breakthroughs regarding Brexit

Euro: USD/EUR (EUR=X) promising signs of major breakthroughs regarding Brexit

Euro: USD/EUR (EUR=X) promising signs of major breakthroughs regarding Brexit Looking beyond the trials and tribulations of financial markets in the United States, promising signs of major breakthroughs regarding Brexit and the US-China war have emerged. News reports over the weekend have warmed the idea that a Brexit deal could be negotiated, by some time […]

Euro: USD/EUR (EUR=X) downtrend intact

Euro: USD/EUR (EUR=X) downtrend intact

Euro: USD/EUR (EUR=X) downtrend intact Short-term support for EUR/USD has been found around $1.13, coinciding with a decent bounce from intraday oversold conditions. However, for the moment this merely looks like a lower high within the current downtrend. A turn lower from below $1.1146 would mark another potential selling opportunity, and would see the $1.13 area tested […]

Euro: USD/EUR (EUR=X) attempts to stabilise after recent decline

Euro: USD/EUR (EUR=X) attempts to stabilise after recent decline

Euro: USD/EUR (EUR=X) attempts to stabilise after recent decline EUR/USD failed to break below the $1.1335 support level overnight, with the price rallying into trendline resistance. The declines seen over the past fortnight are likely to be retraced before long, and many will question whether this is the beginning of such a move. However, we would […]

Euro: USD/EUR (EUR=X) still unable to push higher

Euro: USD/EUR (EUR=X) still unable to push higher

Euro: USD/EUR (EUR=X) still unable to push higher EUR/USD continues to hold above $1.1350, although the downward move from mid-October remains intact. A push above $1.1430 would clear recent intraday resistance and suggest another attempt to break the downtrend line from the September highs. Further support is found at $1.13. Overall, the bias in prices is: […]

Euro: USD/EUR (EUR=X) wedge break points towards potential upside

Euro: USD/EUR (EUR=X) wedge break points towards potential upside

Euro: USD/EUR (EUR=X) wedge break points towards potential upside EUR/USD has managed to rally through trendline resistance, completing a bullish breakout from the falling wedge formation in play over the past week. This points towards a potential bullish phase coming into play this week. However, it makes sense to watch out for a rally through $1.1432 […]

Euro: USD/EUR (EUR=X) room for EUR to weaken further to 1.1350

Euro: USD/EUR (EUR=X) room for EUR to weaken further to 1.1350

Euro: USD/EUR (EUR=X) room for EUR to weaken further to 1.1350 We highlighted yesterday “time appears to be running out for further weakness” and the subsequent swift and sharp plunge in EUR came as a surprise, albeit a pleasant one. We have been anticipating a move to 1.1400 since last Friday (19 Oct, spot at […]

Euro: USD/EUR (EUR=X) Eurozone PMI’s pointed to a slowing growth momentum

Euro: USD/EUR (EUR=X) Eurozone PMI’s pointed to a slowing growth momentum

Euro: USD/EUR (EUR=X) Eurozone PMI’s pointed to a slowing growth momentum The euro to dollar exchange rate plunged on Wednesday after the latest Eurozone PMI’s pointed to a slowing growth momentum. Analysts at Scotiabank suggest EUR/USD could see lows of 1.1302 in the near-term outlook: “EUR/USD failed to make any impression on resistance in the low 1.15s […]

Euro: USD/EUR (EUR=X) trade sideways to stay near the 1.1500 level

Euro: USD/EUR (EUR=X) trade sideways to stay near the 1.1500 level

Euro: USD/EUR (EUR=X) trade sideways to stay near the 1.1500 level EUR/USD has steadied on Monday, after posting considerable gains in the Friday session. Currently, the pair is trading at 1.1499, down 0.13% on the day. The sole event is the German Bundesbank monthly report. On Tuesday, Germany releases PPI and eurozone consumer confidence. There […]

Euro: USD/EUR (EUR=X) weakness points towards potential further breakdown

Euro: USD/EUR (EUR=X) weakness points towards potential further breakdown

Euro: USD/EUR (EUR=X) weakness points towards potential further breakdown EUR/USD managed to break lower from its consolidation yesterday, coming off the back of a rally into the 50% retracement and 200-day simple moving average (SMA). However, given the mixed signals seen in a wider context (higher highs and lower lows), we need to see a break […]

Euro: USD/EUR (EUR=X) consolidates after recent rebound

Euro: USD/EUR (EUR=X) consolidates after recent rebound

Euro: USD/EUR (EUR=X) consolidates after recent rebound EUR/USD has been pushing higher off the back of a two-week period of losses. We are now seemingly in a period of consolidation, where a break through support ($1.1544) or resistance ($1.1609) would signal where we go from here. A break to the downside would look like a potential […]

Euro: USD/EUR (EUR=X) recovers in early trade

Euro: USD/EUR (EUR=X) recovers in early trade

Euro: USD/EUR (EUR=X) recovers in early trade Overnight weakness for EUR/USD seems to have given buyers another opportunity, but they will need to push the price above $1.16 to clear the way to further upside. Above here, $1.18 comes into view. A close below $1.15 is needed to suggest a bearish turn. Overall, the bias in prices […]

Euro: USD/EUR (EUR=X) pullback unlikely to last

Euro: USD/EUR (EUR=X) pullback unlikely to last

Euro: USD/EUR (EUR=X) pullback unlikely to last Friday saw EUR/USD attempt to reverse some of its recent gains, with the break through $1.1549 and $1.1594 providing a bullish reversal signal. We do not know the size of this current retracement, yet unless we reverse the whole of last week’s rally and break below $1.1432, then this current […]

Euro: USD/EUR (EUR=X) continues to gain

Euro: USD/EUR (EUR=X) continues to gain

Euro: USD/EUR (EUR=X) continues to gain A steady push higher continues for EUR/USD, with some early weakness this morning a possible buying opportunity. Further gains above the 50-day simple moving average (SMA) of $1.1586 would indicate a move towards $1.17 and then key resistance around $1.18. A close below $1.15 reinvigorates the bearish case. Overall, the […]

Euro: USD/EUR (EUR=X) moves higher from base around $1.15

Euro: USD/EUR (EUR=X) moves higher from base around $1.15

Euro: USD/EUR (EUR=X) moves higher from base around $1.15 EUR/USD is moving higher after several days of sideways movement around $1.15. Further gains will target $1.18, the highs of late September. Over the past few days, short-term dips intraday have found buyers, and a move back below the $1.15 level would suggest the rally has ended. […]

Euro: USD/EUR (EUR=X) rally looks set to falter again

Euro: USD/EUR (EUR=X) rally looks set to falter again

Euro: USD/EUR (EUR=X) rally looks set to falter again EUR/USD has been regaining ground overnight, with the pair moving into trendline resistance. The ability to break above $1.1550 will be key in reversing this short-term trend. As such, a bearish outlook remains unless that swing high is broken. Overall, the bias in prices is: Sideways. By […]

Euro: USD/EUR (EUR=X) retracement phase to continue

Euro: USD/EUR (EUR=X) retracement phase to continue

Euro: USD/EUR (EUR=X) retracement phase to continue EUR/USD has been gaining ground since the Thursday low, with a rising wedge pattern coming into play. This provides greater confidence that the pair is simply retracing the downturn from $1.1593. As such, while it looks probable we’ll see further upside if trendline support is respected, any such gains […]

Euro: USD/EUR (EUR=X) Breakdown Set to Continue

Euro: USD/EUR (EUR=X) Breakdown Set to Continue

Euro: USD/EUR (EUR=X) Breakdown Set to Continue EUR/USD Technical Highlights: Breach of support last week keeps focus lower Firm recapture of support needed to negate bearish bias Trend-line from Dec ’16 and August low could be targeted next week For the intermediate-term fundamental and technical outlook, check out the The euro broke big support just […]

Euro: USD/EUR (EUR=X) loses key support zone

Euro: USD/EUR (EUR=X) loses key support zone

Euro: USD/EUR (EUR=X) loses key support zone The drop below $1.15 sends a bearish signal for EUR/USD, indicating that we may well see fresh declines. A rebound towards $1.16 is possible, but any rally that fails to move above yesterday’s swing high is likely another selling opportunity. Further declines target $1.13. Overall, the bias in prices […]

Euro: USD/EUR (EUR=X) holds critical support

Euro: USD/EUR (EUR=X) holds critical support

Euro: USD/EUR (EUR=X) holds critical support EUR/USD remains at the crucial area of support around $1.1554, which held back in late August. While it dipped below this yesterday, the rebound saw it finish around the same level. A rally targets $1.18, where gains faltered in July and in September. A close below $1.1554 is needed to […]

Euro: USD/EUR (EUR=X) holds up amid recent downturn

Euro: USD/EUR (EUR=X) holds up amid recent downturn

Euro: USD/EUR (EUR=X) holds up amid recent downturn EUR/USD has been selling off sharply throughout the latter part of the past week, with the pair moving towards the crucial $1.1526 support level. The wider trend points towards a recent inverse head and shoulders formation in play, but should this fall see the pair drop below $1.1526 […]

Euro: USD/EUR (EUR=X) could move lower

Euro: USD/EUR (EUR=X) could move lower

Euro: USD/EUR (EUR=X) could move lower The Italian budget aside, since EU inspired political wobbles do tend to have a very short half-life effect on Euro sentiment,  higher US interest rate expectation amidst the backdrop of divergence between the Fed and the ECB, even more so after the tepid Eurozone inflation print on Friday, will […]

Euro: USD/EUR (EUR=X) in the red on account of the firmer US dollar

Euro: USD/EUR (EUR=X) in the red on account of the firmer US dollar

Euro: USD/EUR (EUR=X) in the red on account of the firmer US dollar EUR/USD is in the red on account of the firmer US dollar. Germany posted an impressive jump in inflation but the currency pair remained unfazed by the news. The inflation rate on an annual basis jumped to 2.2% in September – up from […]

Euro: USD/EUR (EUR=X) looks set for further gains

Euro: USD/EUR (EUR=X) looks set for further gains

Euro: USD/EUR (EUR=X) looks set for further gains EUR/USD has been consolidating over the past five days, with the price falling back towards trendline support. The uptrend remains intact, with the price continuing to respect the $1.1790 resistance zone. With that in mind, it makes sense to watch out for the pair to push through this […]

Euro: USD/EUR (EUR=X) struggles to clear $1.18

Euro: USD/EUR (EUR=X) struggles to clear $1.18

Euro: USD/EUR (EUR=X) struggles to clear $1.18 EUR/USD’s price rallied to $1.18 yesterday, but then dropped back. A close above this level continues to elude the pair, but it remains in an uptrend from the August lows. The near-term bullish view persists unless we see a close below rising trendline support, around $1.1660. Overall, the […]

Euro: USD/EUR (EUR=X) rallying from horizontal support

Euro: USD/EUR (EUR=X) rallying from horizontal support

Euro: USD/EUR (EUR=X) rallying from horizontal support EUR/USD has started to gain ground from the $1.1724 support level, which represents the highs from the beginning of last week. With a clear uptrend in play over recent weeks, the weakness we have seen since Friday’s peak of $1.1803 is likely to start fading. As such, while further […]

Euro: USD/EUR (EUR=X) rallies into crucial resistance zone

Euro: USD/EUR (EUR=X) rallies into crucial resistance zone

Euro: USD/EUR (EUR=X) rallies into crucial resistance zone EUR/USD has rallied through the $1.1746 resistance level, with the pair shifting into the next major level at $1.1790. The ability to break through this level is going to be key in determining where we go from here. With the pair relatively overextended, there is a good chance […]

Euro: USD/EUR (EUR=X) launching assault on key resistance zone

Euro: USD/EUR (EUR=X) launching assault on key resistance zone

Euro: USD/EUR (EUR=X) launching assault on key resistance zone EUR/USD is turning higher yet again this morning, with the pair looking likely to challenge the $1.1718-$1.1746 resistance zone once more. The ability to break through that resistance zone is key in determining whether we are set for a wider period of gains. As such, watch for […]

Euro: USD/EUR (EUR=X) tries to break $1.17 again

Euro: USD/EUR (EUR=X) tries to break $1.17 again

Euro: USD/EUR (EUR=X) tries to break $1.17 again EUR/USD is making another attempt to move above the $1.17 area that has blocked progress since the second half of August. Above this, the $1.18 area and then $1.1852 come into view. Rising trendline support appears around $1.1630, and further weakness requires a close below $1.1523. Overall, the […]

Euro: USD/EUR (EUR=X) stuck below $1.17

Euro: USD/EUR (EUR=X) stuck below $1.17

Euro: USD/EUR (EUR=X) stuck below $1.17 We have seen EUR/USD gain steadily over the past few days, but a move above $1.17 still eludes it. Above here, the $1.18 area and $1.1852 zones are areas of resistance. A move back below $1.16 hands the initiative to the sellers, although $1.1550 still remains a significant area of support. […]