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The EURUSD pair continues to push on 1.1554 level in an attempt to break it, which supports the continuation of our bearish overview in the upcoming period, reminding you that our next target is located at 1.1443, and the price gets continuous support by the EMA50, while holding below 1.1640 represents the first condition to continue the suggested decline. The expected trading range for today is between 1.1443 support and 1.1640 resistance.
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EUR/USD
A drop below support could come at any time, but we may first see another hold of support and further congestion. If 11500 stays firm then it may be more of the same; chop, chop, until either another attempt is made to break the big level or try and put together a rally. The chop could lead to a developed descending wedge, which for the patient trader may lead to an even better opportunity down the road as even more pressure builds
EUR/USD
The eur/usd pair is little changed this Friday, but below the 1.1600 level. Late Thursday, it broke below a daily ascendant trend line coming from the yearly low at 1.1507, completing a pullback to it on early Friday's turmoil, but still below the level, and close to its yearly low. In the weekly chart, the negative bias is still clear, as the 20 SMA continue gaining downward traction far above the current level, and, despite the Momentum, the indicator remains directionless, the RSI also turned…
EUR/USD
stronger US economic data continued underpinning the greenback demand, with the pair extending its rejection slide farther below the 1.1700 handle during the Asian session on Wednesday. Investors now brace for a packed US economic docket, with the key focus on the latest FOMC monetary policy update, for some meaningful impetus. The Fed is universally expected to leave interest rates unchanged but the accompanying statement will be looked upon for fresh signals over the upcoming rate hikes. This …
EUR/USD
EUR/USD rebounds notably today but the upside is limited well below 1.1790 resistance. Intraday bias remains neutral first. Consolidation pattern from 1.1509 is still in progress. In case of stronger recovery, upside should be limited by 1.1851 resistance to bring fall resumption eventually. On the downside, decisive break of 1.1507 low will resume a larger downtrend from 1.2555 through 50% retracement of 1.0339 to 1.2555 at 1.1447.…
EUR/USD
EURUSD has been remaining below the strong resistance obstacle of the 23.6% Fibonacci retracement level near 1.1760 of the down leg from 1.2550 to 1.1510, since June 14. Moreover, the pair trades around the 20- and 40-simple moving averages (SMAs) in the daily timeframe, indicating a possible sideways channel.Having a look at the technical indicators, the RSI is flattening slightly below the threshold of 50, while the MACD oscillator failed to jump into the positive territory but still stands a…
GBP/USD
A break below the 1.2958 lows would be required as confirmation before calling an extension of the bear trend.A proviso to the bearish forecast is the lack of downwards momentum during the most recent period of activity which is a warning sign that the downtrend could be coming to an end.Whilst the exchange rate has been making new lows during June and July the RSI momentum indicator in the bottom pane has not been similarly making new lows as would be the case if momentum was strong. This conve…
GBP/USD
It is the Bank of England’s Monetary Policy Committee (MPC) to save Sterling from slumping lower as it is expected to hike rates next Thursday when the MPC meets for regular monetary policy review releasing the quarterly macroeconomic and policy forecast in ASugust Inflation Report. Although the timing is not perfect, the Bank of England Governor Mark Carney will have an hour-long press conference after the meeting to explain the move and justify the MPC decision.August MPC meeting is also the l…
EUR/USD
The European Central Bank left rates and the QE unchanged, as largely expected, while no relevant changes were made to the usual statement. However, within Draghi's press conference, he was asked about the actual meaning of "through the summer of 2019," in regards to how long with rates remain at record lows, and he clarified that no action should be expected at least until September 2019. Odds of a hike then are now at 57%.The dollar found additional support at the beginning of the last trading…
EUR/USD
Apart from the ECB-led weakness, the eur/usd pair was further weighed down by a goodish pickup in US $ demand. Surging US Treasury bond yields provided a significant boost to the greenback and helped offset disappointing US macro releases on Thursday. The pair reversed all of its gains recorded in the previous session, led by a positive trade-related development, and tumbled to fresh weekly lows. The selling pressure now seems to have abated a bit, at least for the time being, as investors now l…