EURUSD Analaysis

[ZforexCM]

EURUSD

The EURUSD is trading below 1.0000 (psychological level). Last week, ECB increased the policy rate 75bps as widely expected. But, there is no explanation when the tightening will start. Thus, the investors bias turns negative. Still, the recession expectation in EU is on the agenda. Yet, the discourses of slower rates hike for FED keep buyers hopeful.

Technically, above 0.9925 level (21DMA) the momentum is positive for the EURUSD. Also, the daily stochastic indicator turns back overbought condition. Resistance is seen at 1.0000. More upside, resistance is around 1.0180. The support for the pair is first at 0.9925, before then at 0.9845.

Support: 0.9925 – 0.9845 – 0.9755

Resistance: 1.0000 – 1.0095 – 1.0185

[ZforexCM]

EURUSD

The EURUSD is trading around 0.9905 level. Since the DXY remains firm around 111.35 level, the parity is retracing somewhat. Hawkish expectations from FED officials give way to the market risk off mode. The 75bps rate hike for FED is already priced, but for December meeting the market is looking for a hope. The CME FedWatch tool shows that the probability of 75bps rate hike for December FOMC meeting is around %47. Also, the October inflation estimate in the Eurozone accelerated to a record high %10.7 YoY and core inflation also edged higher to %5.0 YoY from previous %4.8 YoY.

Technically, above 0.9885 level (50DMA) the momentum is positive for the EURUSD. Resistance is seen at 0.9960. More upside, resistance is around 1.0000 (psychological level). The support for the pair is first at 0.9885, before then at 0.9845. We follow consolidative action 0.9700 – 1.0200 range.

Support: 0.9885 – 0.9845 – 0.9785

Resistance: 0.9960 – 1.0000 – 1.0070

[ZforexCM]

EURUSD

The EURUSD is trading around 0.9880 level. Because of the fact that strong ISM Manufacturing PMI data released yesterday, DXY remains firm around 111.35 level. Also, the markets wait for the FED policy rate decision for this evening. A 75bps rate hike is largely priced in, but the investors wonder about the December decision. In other words, hawkish expectations from FED officials give way to the market risk off mode. The CME FedWatch tool shows that the probability of 75bps rate hike for December FOMC meeting is increasing with the odds of %49.

Technically, below 0.9920 level (50DMA) the momentum is negative for the EURUSD. Resistance is seen at 0.9920. More upside, resistance is around 1.0000 (psychological level). The support for the pair is first at 0.9850, before then at 0.9775. We follow consolidative action 0.9635 – 1.0200 range for the parity.

Support: 0.9850 – 0.9775 – 0.9635

Resistance: 0.9920 – 1.0000 – 1.0090

[ZforexCM]

EURUSD

The EURUSD is trading around 0.9830 level. The pair is losing momentum because the spread for EU-USD 10-year yield reached -196bps after hawkish FED. Still, the news of Russia’s resuming its participation in the Black Sea grain-export deal probably provided some support to the EURUSD. The U -turn from Russia came after written guarantees from Ukraine that the corridor will only be used for grain export.

Technically, below 0.9835 level (21DMA) the momentum is negative for the EURUSD. Resistance is seen at 0.9835. More upside, resistance is around 0.9915. The support for the pair is first at 0.9780, before then at 0.9700. We follow consolidative action 0.9635 – 1.0090 range for the parity.

Support: 0.9780 – 0.9700 – 0.9635

Resistance: 0.9835 – 0.9915 – 1.0000

[ZforexCM]

EURUSD

The EURUSD is trading around 0.9935 level. The pair is gaining momentum because the expectations for Covid19-zero policy will over in China. Today, the economic calendar is silence. Yet, Wall Street Journal published an article on ongoing US and Russia discussions to restrain a wider conflict over Ukraine. While there were no discussions on peace settlement, ongoing Also, EU-US 10y yield differential is last seen around - 185bps.

Technically, the momentum is positive for the EURUSD above 0.9740 level. Resistance is seen at 0.9975. More upside, resistance is around 1.0095. The support for the pair is first at 0.9910, before then at 0.9830. We follow consolidative action 0.9740 – 1.0165 range for the parity.

Support: 0.9910 – 0.9830 – 0.9740

Resistance: 0.9975/1.00 – 1.0095 – 1.0165

[ZforexCM]

EURUSD

The EURUSD is trading around 0.9990 level. The pair is gaining momentum because the Dollar Index is retracing. Today, the economic calendar is silence. The only important data is related to Retail sales from Eurozone. The data is expected to announce better than previous by -%1.30 vs previous -%2.0 year-on-year in September. Also, EU-US 10Y yield differential is last seen around -189bps.

Technically, the momentum is positive for the EURUSD above 0.9750 level. Resistance is seen at 1.0030. More upside, resistance is around 1.0095. The support for the pair is first at 0.9920, before then at 0.9830. We follow consolidative action 0.9750 – 1.0175 range for the parity.

Support: 0.9920 – 0.9830 – 0.9750

Resistance: 1.0030 – 1.0095 – 1.0175

[ZforexCM]

EURUSD

The EURUSD is trading above the parity at 1.0065 level. The pair is gaining momentum because the Dollar Index is falling. Also, optimism over Ukrainian Zelensky’s mention of being open to “genuine peace talks” with Russia give way to the pair to lift to 1.0095 level. In Eurozone, the economic calendar is silence today.

Technically, the momentum is positive for the EURUSD above 1.0000 (psychological level). Resistance is seen at 1.0095. More upside, resistance is around 1.0170/75 region. The support for the pair is first at 0.9970, before then at 0.9920. We follow consolidative action 0.9750 – 1.0210 range for the parity.

Support: 0.9970 – 0.9920 – 0.9885

Resistance: 1.0095 – 1.0170 – 1.0210

[ZforexCM]

EURUSD

The EURUSD is trading above the parity at 1.0040 level. The pair bounced off 0.9992 level yesterday, because the market is anxious ahead of US inflation data. Also, DXY is rising today due to the fact that FED officials continue to speak hawkish tone. Yesterday, Minneapolis FED chief Kashkari said We will do what we need to do to bring inflation back down’. On the other hand, Russia pulled out of Kherson. This is the opportunity for Western allies to start talks with Putin.

Technically, the momentum is positive for the EURUSD above 1.0000 (psychological level). Also, the daily stochastic indicator is overbought condition. Resistance is seen at 1.0095. More upside, resistance is around 1.0185 level. The support for the pair is first at 0.9930, before then at 0.9870. We follow consolidative action 0.9750 – 1.0210 range for the parity.

Support: 0.9930 – 0.9870 – 0.9765

Resistance: 1.0095 – 1.0185 – 1.0210

[ZforexCM]

EURUSD

Optimism returned the market after failing US inflation data. The DXY dropped sharply. The inflation may have really begin to turn around and FED thus start the slowing pace of tightening. However, ECB said risks to the economic growth outlook are “clearly on the downside, especially in the near term”. Risks to the inflation outlook are “primarily on the upside” in the monthly economic bulletin. Also, European Comission releases Economic Growth Forecasts today.

Technically, the momentum is positive for the EURUSD above 1.0000 (psychological level). Also, the break of 1.0095 resistance confirms the bullish momentum. on the upside for %38.2 retracement of 1.1494 to 0.9534 at 1.0283, even as a corrective rise. Yet, the daily RSI indicator is overbought condition. The next resistance is seen at 1.0385 (200DMA). The support for the pair is first at 1.0165, before then at 0.9935 (50DMA).

Support: 1.0165 – 1.0040– 0.9935

Resistance: 1.0285 – 1.0385 – 1.0460

[savkimes]

What are the forecasts for the euro? And then I see that so far there is little positive …

[ZforexCM]

Risk appetite increased in the global market with the announcement of deflation and the possibility of a US interest rate cut at the next Federal Reserve meeting. It may be the beginning of a strengthening of the euro.

[ZforexCM]

EURUSD

The EURUSD is rocketing up to a high of 1.0364 on last week because the Dollar Index encountered sell off. In other words, China re-opening plays and the expectation of less aggressive Fed tightening from the market gave way to lift EUR above aggressively.

Technically, the momentum could be slower because the daily stochastic and RSI(14) are in overbought condition. Any pullback could meet support at 1.0230. The next support is seen at 1.0165. On the upside, the resistance for the pair is first at 1.0385, then at 1.0460. We look for consolidative trade within 1.0165 -1.0515.

Support: 1.0230 – 1.0165– 1.0030

Resistance: 1.0385 – 1.0460 – 1.0515

[JannikHofmann]

I think the next rest level for EUR/USD could be 1.0500. What do you think?

[ZforexCM]

The market is calm now, the euro will not strong probably today.

After the report of USA inflation in October 2022, determining the interest rate of the Fed for investors is very important.

So we expect interest down and EURO will be strong in long term. But it doesn’t seem easy. Because we don’t see a positive signal economy of Europe yet.

[ZforexCM]

EURUSD

The EURUSD is trading 1.0365 (Friday’s high). The geopolitical risk decreases because Russian forces driven out of Kherson might have aided EUR’s climb on top of broader. Also, the Dollar Index is back above the 107.00 level, but non-permanent at that level.

Technically, the momentum is positive today. If the region 1.0385/90 is broken, the parity may test the level 1. 0430. The next at 1.0510. Any pullback could meet support at 1.0270 (yesterday’s low). The next support is seen at 1.0165. We look for consolidative trade within 1.0165 -1.0550.

Support: 1.0270 – 1.0165– 1.0030

Resistance: 1.0430 – 1.0510 – 1.0570

[JannikHofmann]

Looking at the charts, I predict a bearish outlook for this pair and have taken a short position.

Will keep checking this thread for updates, good work

[ZforexCM]

EURUSD

The EURUSD touched a high of 1.0480 after US PPI which came softer-than-expected. Yet, the news that Russian missiles fell in Poland led to EURUSD selloff. EURUSD held on 1.0280 level because Poland President Duda urged its citizens to remain calm. Also, Russia Defense Ministry denied that Russian Missiles hit polish territory. He said it is a provocation that aim at escalating the situation. Today, G7 leaders are also meeting on the sidelines of the G20 Summit in Bali. The market follow the possible NATO meeting in there related to the missile issue.

Technically, the momentum is positive today because of the DXY softens. For the first resistance, the yesterday’s high level around 200DMA, 1.0480 should be followed. Further bullish extension is likely to be slower since the risk sentiment is mixed in terms of geopolitical issues. Also, the daily RSI is near the overbought condition. Any pullback could meet support at 1.0280 (yesterday’s low). The next support is seen at 1.0165. We look for consolidative trade within 1.0165 -1.0550.

Support: 1.0280 – 1.0165– 1.0030

Resistance: 1.0430 – 1.0480 – 1.0550

[ZforexCM]

EURUSD

The EURUSD is trying to push up 200DMA level, 1.0420, but the close came below that level. Also, the pair feel relieved after it became clear that the Russian missiles crossed into Polish territory because of Ukrainian air defense missile and that there is no indication of an intentional Russian attack

Technically, the momentum is mixed today due to the fact that DXY continue to firm at 106.40 level after US Oct retail sales came in stronger than expected. For the first resistance, 1.0425/35 region, around 200DMA, should be followed. Further bullish extension is likely to be slower since the risk sentiment is mixed in terms of geopolitical issues. Also, the daily RSI is near the overbought condition. Any pullback could meet support at 1.0280. The next support is seen at 1.0205. We look for consolidation between 1.0150 – 1.0590.

Support: 1.0280 – 1.0205– 1.0150

Resistance: 1.0430 – 1.0480 – 1.0590

[ZforexCM]

EURUSD

The EURUSD is decreasing this morning because of weaker risk appetite. Last Friday, ECB Lagarde said ECB will increase the interest rate to control the inflation. However, fears of broader lockdowns in China and political uncertainties in Malaysia continue to make pressure on the parity. Now, the EURUSD is trading around 1.0280 level. Today, Germany PPI data will be published, and ECB Holzmann have a speech.

Technically, the momentum is negative because DXY remain firm at 107.30 level after Covid-related concerns in China. For the first resistance, 1.0335 should be followed. Further bullish extension is likely to be slower. Also, the daily RSI is turning from the overbought condition. Any pullback could meet support at 1.0280. The next support is seen at 1.0205. We look for consolidation between 1.00 – 1.05.

Support: 1.0280 – 1.0205– 1.0140

Resistance: 1.0335 – 1.0410 – 1.0480

[ZforexCM]

EURUSD

The EURUSD is hovering around 1.0325 level in this morning. We have more hawkish ECB officials comment nowadays that helps the parity. Also, European gas crisis go away temporarily for this winter because the pipeline through Ukraine stays open. In other words, shortage problem about the gas in Europe is solved for now. Furthermore, the investors seek confirmation of FED’s 50bps rate hike in December.

Technically, the momentum is positive because DXY softens today. For the first resistance, 1.0400 (200DMA) should be followed. Further bearish extension is likely to be slower since the daily stochastics is turning lower in oversold condition. Any pullback could meet support at 1.0220. The next support is seen at 1.0130. We look for consolidation between 1.00 – 1.05

Support: 1.0220 – 1.0130 – 1.0000

Resistance: 1.0400 – 1.0480 – 1.0560