ِِA slight progress today EUR / USD and tomorrow for our German Ifo business climate index with a positive outlook. May be we will see more up.
Yesterday the EURUSD initially fell but found support again at 1.0680 to turn around and close in the green near the high of the day, shy of the 50-day moving average. Today we may see a phase change in the pair from bearish to recovery as traders position them self’s ahead of today’s Eurogroup meeting. A break above the 50-day moving average can trigger a run up to the 1.1034 resistance level.
EUR / USD rose on Thursday after finding support at the 1.0660 area.
The rise stopped slightly below 1.0860 barrier near the moving average of 200 periods.
This price level is very close to a decrease of 61.8% fall 6-13-April.
In the short-term oscillators, there is a negative divergence with the price.
It looks like the Eurogroup meeting today finally provoked some much needed volatility on the market because EUR/USD finally broke above the resistance at 1.0800. I too think it’s very possible to see it reach 1.1000 next week.
Good bounce on the EURUSD from the 1.0900 level, I gues as long as it stays trading sideways, we may take advantage of this range trading.
EUR/USD continued to move upward today after the Eurogroup meeting and taking advantage of the weak dollar this week, Are we going to see $1.1000 next week?
EUR/USD is trading in the range of 1.08 between the support level 1.0820 and resistance 1.0900.
A break above 1.0900 level should lead to another retest of 1.100 zone.
Greece problem continues, with yet further set backs and negations that are not going anywhere soon, I don’t know about you, frankly I am quite tired of the same tune.
Given all the bad USA data last week, I think this has been a rather pathetic rise in eurusd. If better news comes from across the pond or worse news within the euro zone there could be a sizable drop in a very short time.
This is exactly it - how I get in tune with market thinking - then I think, how to trade this.
I never get tired of this type of market activity, this is bread an butter, the thing to dislike though is the more ‘exciting’ stuff.
Eddie, the focus this week will not be EZ numbers, all is well that respect, US will prob fall within exp, short term traders are now focussed on Greece, investors are possibly seeing beyond that but are waiting for removal of doubt.
If trading Eur/Usd simple rule for week upcoming - take profit if over 50 pips.
Hi peterma,
Probably worth mentioning that my view of ‘short time’ is probably a bit longer than most traders, my average trade runs for 8 or 9 days currently sometimes longer.
Agree with your last sentence, if you can grab 50 pips and get out, do it.
Hi eddie,
Yep, we are all different, have never really thought about the differences between short and long term traders, sometimes I seem to fluctuate between the two camps, more recently the s&p was the place for short term, then lately it said, whoa, slow up, take a long perspective and add.
Then again Eur/Usd had been saying - ‘just sell and go away’ - USD strength and so on, yet I bought.
It is an interesting thought, something I have never analysed, how long my average trades actually are, the more I think, the more I just don’t know…
Thanks for the article, according to Greek official: Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel agreed in a phone conversation on Sunday to maintain contact during talks between Athens and its lenders to reach a debt deal.
I tend to agree with you. I dont trade the news but I did keep looking in on this pair and it was a sorry move considering. kinda tells me not much strength.
On Friday the EURUSD initially fell but found enough buying pressure at the 50-day moving average to turn around and close in the green near the high of the day, above of the 50-day moving average. Today we may see may see a pullback toward the 50-day moving average before another move upward. The next key levels to watch in the short-term 1.0925 and mid-term at 1.10345.
EUR / USD traded slightly upwards on Friday, but found resistance near 1.0890.
The short term trend is upward. However, short-term oscillators show that may be imminent a slight retreat before the next upswing.
A close above 1.1045 could signal the completion of a standard “double bottom” and maybe make room for broader bullish extensions.
EUR/USD just broke above the resistance around 1.0890 - 1.0900. I think it will soon reach target 1.1000 and I am starting to suspect it might climb even higher and reach 1.1050 or perhaps even 1.1120, which coincides with 89(MA) on the daily filter chart.
EUR/USD is testing the resistance level 1.0900 more than once today and still failed to break over it.