EURUSD initially fell during the course of yesterday session, but found enough support to bounce back up from the 1.24 handle. However, this is a pair that in a strong downward trend, so we may expect some sideways consolidation and the pair should continue to stay below the 1.26 level in the foreseeable future.
Sell is the best choice from this point in my opinian .
EUR/USD really did form a double bottom at the support at the 1.2350, which proved to be quite strong, and is now headed for 1.2570. Between that double bottom and the strong support I am starting to wonder whether this is not the beginning of a more long-term correction, despite the bearish trend.
I think this week will be more fundamentally more than technically on the EUR/USD, I don’t think any analysis based on technical signal will be good this week as there are a lot of very strong data coming out until thursday
EUR / USD continued its recovery on Monday.
Looking at the daily momentum studies, we still see positive divergence between them and the price action, which stimulates thinking that is coming soon a new fall confirming the downward trend in the long run.
R3 - 1.25900
R2 - 1.25382
R1 - 1.25051
Daily Std. Pivot - 1.24533
S1 - 1.24202
S2 - 1.23684
S3 - 1.23353
True, not only this week.
Maybe correction would continue, now we need to wait few more news today, probably whipsaws.
The EURUSD is getting close to the 1.2500 level. That area could be a good resistance.
Most US data came in better than expected, with 3rd quarter GDP revised up to 3.9% on a 3.3% expectation.
Consumer spending was also better than expected, but consumer confidence came in weaker than expected which markets fear could bode poorly for the important holiday shopping season.
EURUSD has steadily climbed before and after the news, but with the long-term trend bearish and the GDP data better than expected we continue looking to get short on a rally to the underside of the former bearish channel (around 1.25).
Great analysis Honeill I agree with it , thank you.
As I thought yesterday a more long-term correction really seems to have started for EUR/USD. Its current target still appears to be around 1.2580, though the trend remains bearish and it will likely continue its descent once the correction is over.
The EURUSD keeps rallying due to the poor data out of the United States. Lets see if the pair can continue going higher.
I hope so. I took a lost this morning because of that. Hopefully I can recovered some of my losses.
Since the pair consolidates gains above 1.2500, let’s see it would retest the 1.2530 level before attempting to go above 1.2560 and 1.2600 tomorrow.
German regional and national CPI number today will draw focus.
EURUSD initially fell during the course of yesterday session, but found enough support to turn things back around and breaking back above the 1.25 handle. With today being Thanksgiving, it’s likely that the liquidity will absolutely disappear during the US session, this pair will ultimately make most of its moves during the European session.
Indeed, today’s holiday means that we will likely see very little volatility on the market. To everyone celebrating: Happy Thanksgiving!
The dollar has been negotiating high after corrected in recent days.
The euro fell in anticipation of the Euro zone CPI to be released on Friday.
All regional November CPI in Germany were lower except Bavaria, indicating that the national inflation rate is probably lower.
The German unemployment rate was unchanged at 6.6% in November, with the strong labor market.
R3 - 1.26306
R2 - 1.25810
R1 - 1.25423
Daily Std. Pivot - 1.24927
S1 - 1.24540
S2 - 1.24044
S3 - 1.23657
even with the data today the volatility on the market is so low. I am still not risking to enter with such low volatility
The EURUSD could end up the week at the 1.2400 level. lets see what happens on Friday.