New month November starts, we have already saw new low of 1.2440 hit, with the ECB this Thursday and NFP on Friday, we probably will see this pair reach 1.2400.
Depending on tomorrowĀ“s fundamentals, we could see a pullback on the EURUSD to the upside.
Price action in EURUSD remained relatively quiet having plunged to levels not seen since August 2012 overnight, after the pair tripped sell stops at the 1.2500 handle on a strengthening USD to break below Fridayās lows at 1.2485. The pair moved sideways heading into the European close, having consolidated below the 1.2500 level. In terms of notable events the EU PPI reading for September will be in focus alongside ECBās Coeure (Dove) and Costa (Soft Dove).
The EUR / USD has been virtually unchanged today.
Yesterday moved into high being traded back above the 1.2500 line.
The momentum indicator, RSI (no longer oversold) and MACD (almost crossing the signal line) indicate that the declines may continue but careful is the watchword.
R3 - 1.25979
R2 - 1.25554
R1 - 1.25231
Daily Pivot - 1.24806
S1 - 1.24483
S2 - 1.24058
S3 - 1.23735
bewayopa | Trading Ideas
EUR/USD formed a hammer candlestick in the daily filter chart and started climbing. It appears that the current target is around 1.2640. That said, I donāt think we can talk about a reversal yet as the trend is still very much bearish. If anything, this pullback might be a good opportunity to sell again.
Good analysis Victoria, i agree with on that.
price is rebounding I think itās a good entry point to buy with no resistance level until 1.2590
I agree, but I will be patient this week, with the ECB Interest Rate Decision and the US Non-Farm Payrolls report on Friday there will be likely added volatility in this pair.
Good analysis, any breakout would be a perfect selling opportunity.
With the USD-index giving back some of yesterdayās gains, the major USD pairs prompted a tick higher. EURUSD reclaimed the 1.2500 handle overnight during broad based USD weakness. The pair shrugged off the US trade balance, with EURUSD remaining in close proximity to the 1.2500 handle as the USD remained unfazed. Looking ahead the ECB rate decision later in the week will be in focus, however today the host of Fed speakers including Kocherlakota (Voter, Dove) and Lacker (Non-Voter, Hawk) will draw attention.
Ups and downs, previous support became resistance and become support and resistanceā¦ Back to bearish trends and trading below 1.25 level, Iām interesting to find out what will happen after ADP and ISM today.
ADP releases at 230K, not much impact I would say, we shall wait for ISM.
After the hammer candlestick in the EUR/USD daily filter chart I assumed it will reach at least 1.2600, perhaps even 1.2640, but that proved to be far too generous an assumption, as it couldnāt even break above 1.2580 before falling again. On the other hand, itās currently testing support around 1.2450, so it might form a double bottom and move to the upside again. If it breaks below the support and the previous low around 1.2440 it will likely continue on its way down to 1.2200.
I am with scenario of bulling to the 1.22 but I think it will takes time.
The EURUSD advanced yesterday after being known a report citing internal tensions in the European Central Bank.
The representatives of the central banks of the Eurozone plan tomorrow to challenge Mario Draghi on its goal to increase the balance of the Bank.
The advance of the euro can be attributed to the fact that markets were waiting for a program of quantitative easing large-scale, but after the tensions and disagreements within the ECB reported, these expectations were lowered.
R3 - 1.26570
R2 - 1.26118
R1 - 1.25471
Daily Pivot - 1.25019
S1 - 1.24372
S2 - 1.23920
S3 - 1.23273
bewayopa | Trading Ideas
Market is not safe this days I think I will lay low until the ECB interest rate announcement on Thursday.
Yesterday EURUSD is traded around 1.2490 after having fallen for a fifth day out of the last six as the pair is enjoying the strength of the American dollar.
Today we will have the ECB meeting on monetary policy that will certainly affect the market and the EURUSD. However, the 1.25 handle continues to be identified as the level where the battle is being waged right now. On Friday, the nonfarm payrolls will probably pronounce sentence.
EurUsd is poised for brief rise.
But if swiss govt pass save our gold then 1.20 could be in range
The ECB Rate Decision comes out today and tomorrow weāll learn the change in the USD Non-Farm Payrolls. These events always provoke great volatility in the market but they are also an excellent opportunity for big profits. Good luck to everyone who are planning to trade when the news come out.
Today the ECB is in the spotlight.
Will take up to assess the real impact of stimulus measures announced in recent months, especially after the first estimate of CPI reveal an increase in the inflation rate.
Was tempted to pass the idea that there is unanimity on the ECB President and his administration.
The main concern of investors based on their ability to achieve the proposed targets.
R3 - 1.26570
R2 - 1.26118
R1 - 1.25471
Daily Pivot - 1.25019
S1 - 1.24372
S2 - 1.23920
S3 - 1.23273
bewayopa | Trading Ideas