EUR/USD broke below the support at 1.1150 even before the ECB rate decision came out. The bearish trend is as strong as ever and it looks like the pair is headed for target 1.09, but is likely just another step on its way to parity.
Well the ECB announce the start of the purchasing plane and kept the interest rate the same and the EUR/USD keep falling and tomorrow we have the non-farm payroll. lets see how far the pair will go.
Because of the weight of EUR/USD on the Dow-Jones composite US Dollar index, the Euro’s drop actually helped the US Dollar up, which in turn pushed down pairs like NZD/USD…
An interesting day to watch the markets…
Тhe EUR / USD finally broke below the support at 1.1150, heading to 1.0900 area and the price opened today at 1.1079 and rose slightly to 1.1114 and then continued to go down to 1.0987 and currently trading at 1.1026. But do not know if the price will stay at 1.0900 level or to continue to go down soon?
I agree, Eur/usd has temporally slid below 1.1000 to the lowest level since 2003, bears indeed continue to favor the downside. We are not far from the parity.
EURUSD fell during yesterday session and continues making new lows after the European Central Bank (ECB) setting a date for quantitative easing; the program will star on the 9th of March through to September 2016. The pair closed in the middle of the daily range. So the next target for the pair is the 1.078 level.
We are currently around 1.0880…
Massive NFP figures beat expectation AND previous data…
All US Dollar pairs are diving faster than a gunned Spitfire…
A good day for US bulls…
PS: personally, I will stay out of trading this, even after the news ‘fade’, because I would rather wait for confirmation of the breakout/rally from today, waiting until Monday…
If my chosen pair (NZD/USD) should resume the downtrend then losing 50-70 pips will not harm as a ‘security’ to increase my trade probability.
Not a bad week.
-Adrian
EUR / USD continued to fall after Draghi comments.
The ECB is willing to buy bonds to negative returns below the ECB deposit rate.
EUR / USD is around the psychological support line of 1.1000.
Daily technical oscillators detect an increasing downward speed and pave the way for a EUR / USD weaker. The RSI to 14 days entered its oversold territory and is pointing down, while the MACD, already negative, fell below its signal line and is also pointing down.
EUR/USD broke below 1.09 after the US Non-Farm payrolls with ease. I think the pair will reach parity in the foreseeable future, the question is will it drop even lower? And just how much lower can it fall before we see a reversal?
What a quick fall for the EUR/USD today, Also strong sell the whole week almost 200 pip not bad 
if the price continue to fall at this rate we might see 1.0000 sooner than we expect.
I am a big fan of long-term charts but when you think about it, will there really be orders sitting there on a level going back a decade? Yes, those levels help us define more neatly our targets, but when you go back so many years, you [B]could[/B] be dealing with little more than lines on a chart with no actual influence on price.
We all like to check price history as far back as possible, but sometimes this does not really do more than provide us with the ‘comfort of numbers’ (and I am also telling myself this, given my own videos and articles focussing on decades-long cycles and levels). Truth be told, we all know that, having broken all possible barriers, i.e. the downward channel from 2008, the 200-day moving average on the daily (and monthly?) chart, and all kinds of ‘impossibilities’, we are truly staring into a drop into the void, and none of us has any clue how much and with what reach this will continue…
The only thing that we can do here is either not to trade it or trade it but use stops and measures of risk management… Targets may be set using the ATR, at this point, rather than trying to use ‘levels’, because, truly, there is no level here that would have stops or orders sitting there waiting…
Another thing to remember is that the chart is problematic to interpret, in that the Euro as a currency was not introduced until 1999, so any price information preceding this date refers to the EEA rather than the EuroZone. I know that it is tempting to say that the chart offers consistent information from left to right, whatever the date, but in truth how can we equate pre-1999 price levels to current price levels, where there was no single EUR/USD exchange rate formula/value/mechanism before 1999?
Have a great weekend everyone
Well said.
PipMeHappy, I wrote “Mind” that level, not “close your short” or “enter long”. I do not have a clue whether something will happen at that level, but I know I am not the only one that saw it, and some traders will actually have take profits there. That means we may expect some long orders. And for that reason it is still a level to watch.
EURUSD plunged fast and hard on Friday’s session with a wide range day of 195 pips and closed near the low of the day. The pair is still in a bearish phase and trading well below the 10-day moving average. The stochastic in showing an oversold market but even with the pair well into oversold territory, we should not fight the strong downward trend.
The 1.0900 level could act as a good resistance on the EURUSD, it seems like the pullback is losing momentum at that zone.
EUR / USD fell after the non-agricultural payments have risen more than expected in February.
The pair fell below the now support barrier resistance in 1.0915.
The technical oscillators indicate an acceleration in the decline and paving the way for further declines in EUR / USD.
The RSI is within your oversold territory and is pointing down, the MACD below the zero line and signal.
The pair is proving lower minimum and maximum below both moving averages 50 and 200 days.