The ECB considers buying Corporate Bonds cause EURUSD has dropped 50 pips, other than that I think EUR/USD will most likely range.
I agree, EUR/USD continues to be range-bound between 1.285 - 1.260.
A 100 pip range for the EURUSD between the 1.28 and the 1.27. No clear direction yet.
In the short-term, EURUSD is at a key potential inflection point: at the bottom of its channel after at least two waves up. A break below 1.2700 could signal the fulfillment of the bearish flag pattern and bring about extension to 1.2500. On the flip-side, expect plenty of short-term buying here as traders buy at the bottom of its flag channel, betting on a return to 1.29.
I agree with you cause it does work with me as I short buy today.
EUR/USD could not break above the resistance level at 1.2840 despite spending days testing it and eventually started descending again, breaking below the support level at 1.2680. I think the next target is 1.2520.
The dollar has been on the rise against against almost all of its peers, except the JPY, AUD and NZD against which has been stable.
I agree that the decision on buying bonds and debts effected the euro but I think we will still see more drop. price is facing a support line at 1.2620 It will be a good place to enter short under the support
I agree, with German PMI tomorrow we might see breakout, good place to re-enter short.
If tomorrow’s German PMI comes out worse than expected, then we may see further loses on the EURUSD and maybe a come back of the bearish trend.
EURUSD pair fell during the course of the day on yesterday session, sending this pair looking for the 1.2650 handle. It appears that the EURUSD is ready to go lower, and at this point time any rally should be treated with suspicion. With that in mind, the pair can drop to the next key level at 1.2500 or even to the 1.2050 level based upon longer-term charts.
EUR/USD was descending but encountered support at 1.2630 and bounced back a bit from it. Personally, I still think it will reach 1.2500 but it needs to break below the support at 1.2630 and it’s uncertain whether that will happen right away or range will begin again.
EUR / USD moved up denoting what brought the PMI data for October.
The numbers were above the neutral level for the 16th consecutive time.
The preliminary composite PMI of the euro zone - covering the sectors of industry and services.
Unexpected was the rise of the German PMI industry.
Well at the moment the pair bounce from 1.2613 to 1.2656 and we will see what would be the next move for the pair for today.
EURUSD initially fell during the yesterday session, but found enough support at 1.2613 to reverse and move up towards the end of the day to form a Doji Cross. The fact shows that the market is indecisive, essentially trying to digest its next move in this region. The pair is still in a well-established bearish phase. However, the most important thing to pay attention is the area between 1.2868 and 1.31, as it is such a massive resistance barriers.
I am still waiting for the break under 1.2620 or a rebound from the support levels to decide an entry point
I am absloutly agree with you sherif and you made the right decision.
Typical Friday for market. Expecting something in NY
The EUR / USD has not been as active as it had used in the past weeks.
Known today were the sales of new housing in the United States in September with values 0,467M to stay above the previous value of 0,466M but below 0,470M representing the market consensus.
I didn’t expect that Friday would be so uneventful. Nothing interesting is happening and I think we might have to wait for Monday before we see any major change in the EUR/USD chart. Have a fun weekend, everyone.