Great post thank you.
If the non-farm payroll comes our positive the EUR will be completely destroyed. 1.2200 is not far now.
Draghi speaks, everyone jump back into short position again. Strong NFP release tomorrow will lead this pair for more downside.
‘‘Danske Bank said the euro has further scope to fall versus the dollar, and has forecast Europe’s common currency would drop to $1.20 over the next six months.’’ With strong NFP, I think we might first see 1.23 be taken out soon enough.
EURUSD fell during yesterday session to fresh Year lows at 1.2363. It appears that the market should continue to move lower, aiming for the 1.2050 level which is our longer-term support. Rallies at this point should be selling opportunities as EURO should continue depreciating f against the greenback.
Right now all eyes are focusing on the US NFP report and the Unemployment Rate Date, Eur/usd is trading below 1.24 as we speak, lacking any reversal signals may lead further decline.
Poor NFP report failed to boost the Euro, it’s fun to watch on the sideline. Have a nice weekend everyone.
This is it dude, no chance to euro this week, nice weekend for all.
As usual the Non-Farm Payrolls had quite the effect on the market and provoked a lot of volatility. Whatever their effect I think the downward trend is as strong as ever and will reach 1.2200, perhaps even 1.2000.
Have a great weekend, everyone!
yes I agree, Volatility was not as expected for a day like that.
As expected the European Central Bank left its interest rates unchanged reference.
The programs are expected to last at least two years in the approximate amount of 1 trillion euros.
German industrial production rose 1.4% in the previous month in September, which led to a strong recovery in exports and led to the growth of the trade surplus in September.
R3 - 1.26093
R2 - 1.25392
R1 - 1.24979
Daily Pivot - 1.24278
S1 - 1.23865
S2 - 1.23164
S3 - 1.22751
bewayopa | Trading Ideas
EURUSD pair fell hard during the session on Friday, breaking down below the 1.24 level. Looks like the bears are in complete control and the pair should continue to move lower. We have a longer-term support of 1.2050, so selling the rallies between here and there will offer some risk/reward opportunities.
Despite the significant pullback we saw after the drop last week, I think that the bears are in control again and the downward trend will continue with likely target 1.2200.
It looks obvious that eurusd will repeat the same scenario and looking for the strong support at the 1.2050 again .
I don’t think the price will move much this week. today was a boring day with no significant entry points.
EUR / USD took off last Friday over the level of 1.2400.
This morning started in view of the resistance of 1.2535.
The outlook remains negative.
The level of momentum and RSI showed strength as the daily MACD remains below its zero line and signal.
There is a positive divergence between both oscillators and price action, which favors a correction.
R3 - 1.25722
R2 - 1.25406
R1 - 1.24816
Daily Pivot - 1.24500
S1 - 1.23910
S2 - 1.23594
S3 - 1.23004
bewayopa | Trading Ideas
I agree, fundamentally today is quiet, but the market still looking favorable for the bears.
First we need to see break of 1.2400 for the bearish momentum to pick up and then take price further down to 1.22.
Lower lows and lower highs are keeping the downtrend alive for the EURUSD, though larger swings on the hourly charts indicate momentum is slowing above 1.2360. We remain bearish on the pair though traditionally strong US stock performance has led to Euro gains, and with the stocks rallying this could put some pressure on USD bulls.
The market seems relatively quiet today and EUR/USD is slowly crawling on its way down, although I think that for the moment that is just part of the correction. Once it breaks below the support at 1.2360 it will likely continue falling at least until it reaches 1.2200.