it’s interesting how the USD is increasing while all the major stocks having a huge sell off yesterday.
EURUSD fell during the course of the day on Friday, continuing the bearish pressure that we have seen for quite some time. The market tested the 1.26 level and found enough support. However, the market technically is bearish overall but is holding above the 10-day moving average so expect short term bullish correction to continue.
EUR / USD rebounded from near the line de1.2600 (S1) during the Asian session, revealing a higher minimum.
The only notable trend within the G10 was the strengthening of the yen.
This is due to the decline of stock markets worldwide.
The stock markets of Europe, USA and Japan ended the week leaving worrying signs about their climbs.
The market appears quite calm and the EUR/USD correction slowly continues. Personally, I think its current target is 1.2870, perhaps 1.2900. However, I am still not convinced that the downward trend is over and that this is a reversal, so I think I should be on the lookout for signals that the EUR/USD descent is about to continue. I believe that the long-term target at 1.2200 or even at 1.2000 is still quite valid.
We will see Victoria , I will keep an eye on it, thank you.
price is still under the potential resistance 1.2720 with a potential head and shoulders on the 4 hour chart I am going short sell.
The EURUSD goes back up again, but it could stay in a consolidation.
EURUSD has been consolidating sideways after a break above its 10-day moving average last week. This upward movement has created a short-term bullish environment and a long-term consolidative outlook above 1.2500. On the 4h charts there is a bullish flag pattern under 1.2700 and a break above that level should accelerate gains toward 1.28.
EUR/USD moved higher on Monday, to the 1.2760//90.
Many traders were expecting that and the daily momentum studies point towards further upside.
• Support: 1.2600 (S1) - 1.2500 (S2) - 1.2465 (S3)
• Resistance: 1.2790 (R1) - 1.2900 (R2) - 1.3000 (R3)
EUR/USD range has continued for several days now and it looks like we might have to wait a bit more before it becomes clear whether it will start descending again or not. As I see it, it either has to break above the resistance at 1.2750 – 1.2760 so it can reach its target around 1.2850 or it has to break below the support at 1.2500 so it can continue its descent to the long-term target around 1.2000.
again 1.2750 proved to be unbreakable and double top is formed a break on the neckline will push the price down waiting for 1.2610 to decide.
We have Draghi speaks again, a whole load of US data today, so we will have some clearer view.
I agree, we have eur/usd looks very much in a shakeout phase at the moment, bullish, bearish and bullish again.
EURUSD fell during yesterday session closing near the low of the day at 1.2658 after ZEW confidence survey showing that confidence in Germany and in the Euro zone is at its lowest in over 2 years. The pair still managed to close above the 10-day moving average creating an inside day.
ECB President Mario Draghi, will be at a Conference in Frankfurt.
He is expected to point out that the Bank is ready to act more if needed, following his comments that the ECB had reached its “lower bound” with respect to interest rates.
Not only did EUR/USD reach the target at 1.2850 but it broke above that level and reached 1.2887. At the moment I think it’s a little too early to tell whether it will start descending again. On the other head, it might keep climbing until it reaches target 1.2950, but I think that might take a while.
EURUSD yesterday rose to 1.2886 following the unexpected news that US Advance Retail Sales fell by more than predicted in September. Most economists had already estimated a 0.1% fall in September, but sales fell by 0.3%.
The EUR/USD correction continues and it looks like it really might reach 1.2900 after it bounced back from the support level at 1.2700.
Agree, previous resistance may become support which may send the EURUSD to 1.2920 in the coming week trading.
Of course, I agree with you fox. Thank you.