EUR / USD “played” their strength and fell.
Deflation of Germany may extend the euro area.
The RSI recommends careful with a positive divergence between the oscillator and the price.
The oscillator power seems to be coming out of the oversold area.
The longer trend is downward with the EUR / USD to reveal minimum and lower maximum below both moving averages 50 and 200 days.
I guess we won’t see a lot of volatility until the release of the Nonfarm Payroll & the unemployment rate.
The Eur/USD testing the 1.1150 support level but the economic calendar carry too many this week.
I guess you are right, it’s hard to tell, but for now this pair is trading along the downtrend, and the downtrend probably expect to continue which will be followed by support level at 1.1000.
I agree, we had weekly low around 1.1160, any break below the level probably lead the pair extending down to 1.1130.
During the course of yesterday session, EURUSD initially rallied but enough selling pressure again at 1.1236 to turn things back around and close at the open of the day, creating a doji candle. We continue to trade in the “no man’s land” between 1.1236 downward to 1.1097.
Looks like the pair is waiting for the ECB monetary policy on Thursday and U.S jobs report on Friday.
I have got to agree with Honeil. EURUSD supported twice at 1.118 and was trading slightly bullish sideway. With the important events on Thursday and Friday please reassess your current trading plan. AtoZForex.com
I think EUR/USD has formed a double bottom and the doji candlestick in the daily filter chart is only reenforcing this opinion, but nothing is certain before the ECB rate decision and the US Non-Farm Payrolls.
EUR / USD recovered yesterday.
Probably, there will be very soon, sellers to challenge the minimum of 26 January, in 1,11.
But there is a positive divergence between the RSI and the price-action, with MACD up the signal line.
The broader trend is undoubtedly down to the players already looking at 1,10, up to September 1, 2003.
The EUR/USD still moving in a narrow rang for the 2nd day and no break under 1.1150 . waiting for the US Non-Farm Payrolls this week.
EUR/USD made a new 4 week low on Monday and has shown lower highs and lower lows in the last five sessions. The Tuesday session came within 57 pips of the Jan 26th low and topped out 233 pips below the high for the last ten sessions.
Don’t call bottoms.
-Adrian
By the end of the month we should see EurUsd around 0.9 and once they start printing money, Eur will start rallying.
During the course of yesterday session, EURUSD went back and forth, creating another doji candle. We continue to trade in the “no man’s land” between 1.1236 downward to 1.1097.
I do not expect any movement beyond “no man’s land” range before the ECB monetary policy tomorrow and U.S jobs report on Friday.
EUR / USD traded slightly lower yesterday, to trade close to 1.1170.
The short-term outlook is negative despite the positive divergence between the RSI and the price action.
The long-term trend is also downward.
EUR/USD continue the downtrend after breaking the support level 1.1150 price now has no restrains to push lower. positive nonfarm payroll this week might push the price under 1.1000
I think the QE programme is more likely to push the German DAX higher sooner than the Euro, or rather, European equities will push higher while the Euro will take the opposite direction (= down).
This is what happened both to the USD and JPY when they implemented their own QE programmes, so
I think, as Arbitrager on Acid says, we should not call a bottom on EUR/USD to the downside… Look at the S&P500: if anyone had been holding on to their short for the past five years, they would be stratospherically poor (but not very standard, if you pardon my pun)!
Euro had a rough morning today.
Similar to mine. Can’t tell if the hotel room is Canada or Japan. I think Canada.
-Adrian
Well EU is still going down. Assuming you are not supposed to short a low and that today is ECB rate decision and tomorrow NFP, I am still cautiously favoring shorts on retest of 1,1 and 1,2.
EUR / USD is proving lower minimum and maximum below both moving averages 50 and 200 days. A clear close below the 1.1000 could signal bearish extensions wider with original purpose in 1.0915, minimum of 5 September 2003.
President of the Chicago Fed, Charles Evans, argued that interest rates should only be increased in 2016, to the extent that inflation is still quite away from the 2% desired by the central bank (the last reading was -0.10%). This view runs counter to the prevailing perception in the market that believes that the Fed will raise interest rates sometime in the second half of 2015.