The Euro had the worst week last week, extending its losing streak against the US Dollar even longer. Are we expecting Eur/usd will continue this trend the coming week, let’s see.
yup I agree and with the euro zone announcing more sanctions on Russia this might destroy any hope of uptrend.
EURUSD made a new low at 1.3130 and had another negative session on Friday, but did not break below September 2013 low at 1.3102 yet. So EURUSD is expected to head to the 1.31 level, and then eventually the 1.30 level which we see as much more supportive. That being the case, we have a bearish bias and rallies should continue to offer selling opportunities.
Today in U.S. and Canada is Labour Day holiday so volumes are expected to be very light.
There are two dojis in the 4 hour filter so some pullback is expected but I doubt this will be the beginning of a more long-term correction. I think it will probably continue its descent until reaches 1.3100.
The USD traded unchanged or lower against most of its G10 peers during European trading morning.
The “greenback” lost ground against the NOK, GBP, CHF, EUR and NZD, in that order, while in high only against the SEK. However the currency remained stable against the JPY, CAD and AUD.
Looks like the market was sleeping yesterday, I guess we have to wait until ECB Thursday and NFP Friday to see some real movement.
EUR/USD is now in uncertainty with a sideways trading and no obvious movements, lets see if we will get a break under 1.3100 or a correction will occur
just waiting for that possible drop to the 1.3100 level, from where the price may bounce to the upside.
I like this thread. Kind of remines me of a weather forecast. Fine and sunny with cloudy periods and rain developing. Apart from the normal contributors (gday pipmehappy) can someone offer an option based on facts rather than the price will go up if it doesn’t go down.
As for my view. The bears will continue to dominate until substantial data (political or economic) is produced. Can’t see that happening in the short term. Any rally should be viewed as a correction over a reversal
I fully agree with you bobbillbrowne.
Yesterday, EURUSD made a new fresh low at 1.3118 but went nowhere during a particularly light session due to U.S. and Canada Labour Day holiday. The downward trend is showing some signs of weakness with stochastic displaying oversold conditions so EURUSD is expected to pullback to the 1.32 level ahead of ECB Interest Rate Decision.
The dollar has traded unchanged or valued relative to its G10 peers.
The USD rose against the GBP, AUD, CAD and NZD, in that order.
We have the closing price almost at daily open, I guess everyone is waiting for Thursday. This pair is already bearish and I think it will remain bearish as long as the price is trade below 1.3146.
It’s amazing how much the EUR/USD pulls us in, but it is actually a very difficult pair to trade…
Right now, with the big drop since that 1.40 level, it is looking attractive for trend-trading, but other times
it has been a choppy, unclear pair, that I would not have touched with a bargepole!
The trouble with trading this pair is that it has just too much liquidity in it… This can stifle moves and make
for a very frustrating time if you are waiting for those big moves… However, the current trend to the
downside is definitely a meaty dish to be had, so enjoy it if you have caught it!
Cheers
Happy Trading!
It appears from the volume that everyone is watching the pair closely but prefer to stay away from it until a break happen.
The EURUSD may move tomorrow with the PMI reports out of Europe, but the real market mover should be the Non-Farm Payrolls report on Friday.
This week is the recovery week for the EUR but it is just the beginning .let us see.
EURUSD initially fell during the course of yesterday session making yet again new lows at 1.3109, but bounced enough to create a hammer pattern. It appears that the market could get a bounce from here to the 1.32 level. Let’s see what ECB brings to the table this Thursday.
A doji candlestick formed in the daily EUR/USD filter and the price started climbing. That said, I think it’s prudent to wait for Draghi’s press conference tomorrow before making any decisions.
The dollar traded in the lower face almost all of its G10 peers during European morning getting stable against the NOK and CHF.
The euro was boosted by the release of the Ukrainian president, Petro Poroshenko by announcing a permanent ceasefire.
The announcement of the agreement reinforced EUR / USD, but the pair failed to hold gains eventually back the next time, given the widely anticipated that the ECB meeting will be held next Thursday that remains the key factor for EUR.
a break below zero.