EURUSD
According to our technical tools we believe that the pairs can go up to 1.3790 if it break the most important point at 1.3540
Alternatively: The pair can go down to 1.3045 if it break the trend line at 1.3410
we are looking for upper movement now
Hmm, interesting. Thanks for sharing this setup. I’ll wait for potential breakouts either way as well!
We all are still confused - when the Fed start cutting QE3 and the comments can lead to changes in the market.
The downward movement remains so far.
Fixing below 1.3470 would mean that the upward correction is probably over and continuation of the bearish trend is expected.
The U.S. data were generally positive last week. Unemployment Claims fell by 21 thousand to 7-week low of 323 thousand, which is more than twice exceeding the expectations for a decline.
The pair is now growing.
The short positions are recommended after the price breaks 1.3410 with partial profit taking at the level 1.3375 and a transfer position to breakeven.
The U.S. dollar fell on Friday against the EUR and the GBP and was up against the yen and the commodity currencies, going on with the trend of the previous day, as there were no significant U.S. macroeconomic data. The euro rose after the release of positive Business Climate in Germany.
If the pair continues growing, the target will be 1.3535 and the second one is 1.36. Still the downward move is still very real.
The U.S. dollar was trading downwards versus the most major currencies on Thursday, because of the Thanksgiving holiday in the U.S.
The pair is growing now.
The price broke 1.3600 which was a crucial support level. The next target is 1.3662 and 1.3702. In the case of a rebound the price will go to 1.3535.
The U.S. dollar slightly fell according to the dollar index losing 0.07% and continuing the trend of the previous week: growth versus the yen and the commodity currencies and decline against European currencies.
The pair is growing.
It is better to go long from the level 1.3620 for the target 1.3730 and with protective orders at the level 1.3590. Should the pair continue falling the target is 1.3490.
Euro markedly fell on Monday before the ECB meeting, ISM Manufacturing PMI in the euro zone as a whole were better than expected.
The rebound from the resistance 1.3600 allowed fixing the price below the support level 1.3560. The corrective recovery towards 1.3560 is more likely to end with pull back. The target of the rollback is 1.3490 - 1.3500.
The pair was traded with a high volatility last Thursday. In the first half of the day the demand for the European currency increased in anticipation of the ECB’s key interest rate and Mario Draghi’s press conference. The head of the European Central Bank has assured the investors that the basic interest rate would remain unchanged at 0.25%.
It is recommended to open buy pending orders from 1.3600 with short stop-losses and with take-profit at the level 1.3750.
Euro continues its upward trading. Obviously, the European Central Bank supported the euro when it did not change the monetary policy and left interest rates unchanged. Last week, the U.S. unemployment rate significantly dropped while the Non Farm Payrolls reached 208,000 vs. 180,000.
long positions after the breakdown of the resistance level 1.3750 with stop-loss at 1.3725 and 1.3800 as a target are recommended.
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The pair is in a downside channel 1.3895 - 1.3575. The negative USA data pushed the growth of the euro.
The bears dominate the market. It is advisable to open short positions after the pair passes the level 1.3600.
The pair broke the support at 1.3590-1.3625 and if it manages to consolidate below, it is likely to increase the downward trend and will eventually lead to testing 1.3295 support or the mark 1.3100. An upward trend reversal is possible from any of these supports while a break below 1.3100 currently seems unlikely.
The break through a rising trendline 1.3700 led to the a bearish trend. Yesterday the pair updated the local minimum 1.3570 giving an additional signal to go short.
The break below 1.3550 opens the way to the support level 1.3500.
The pair tested the resistance at the level 1.3670 and if the pair consolidates above it the upward dynamics is likely to grow and if it consolidates below – a downward one that will lead to 1.3295 or 1.3100 testing. The reverse trend reversal upwards is possible from any support line while break below 1.3100 currently seems unlikely.
The current trend is directed downwards though the pair is correcting right now. If the pair enters the Cloud that can cancel the downward dynamics and the pair can return to the growth.
1.3740 is the first target for the growth.
1.3540 if the pair goes down.
The pair continues to trade within the framework of support 1.3540–1.3650. If it remains above its lower boundary, risks will be buoyant and the possibility of an upward trend with the target to fix above the resistance at1.3830 and testing the level 1.4000 will remain. If the pair falls and stays below 1.3540, its prospects will deteriorate and the way for a gradual decline to the support 1.3295 or 1.3100 will be opened. The reverse trend reversal can take place from any of mentioned levels.
The retest of the resistance level 1.3645 did not lead to a breakthrough; there was a small rebound downward. It is possible that today there will be another retest of the resistance level 1.3645, and if it is false, the price will rebound to the support level 1.3570.
The 1.3540 breakthrough will allow sellers to lower the price to 1.3485.
European currency continued to stay at one place in the absence of important economic and political news and closed the last week with small losses versus the dollar. The results of the current account balance in Italy, Spain and Portugal did not affect the market.
There was a downward trend line 1.3563 and three resistance levels: 1.3574, 1.3647 and 1.3676 break. All breakthroughs happened at high volume. The price is fixed above 1.3676 which is a good signal for the continuation of a northern movement.
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The euro is under pressure from the dollar. The pair tries to overcome the resistance at 1.3550-1.3660. If the pair succeeds it will continue to restore its positions to the resistance levels 1.3830 and 1.4000. If EUR/USD does not overcome 1.3550-1.3660 we can expect a further decline to 1.3295 support or 1.3100.
The corrective recovery towards 1.3645 downward trend line is not supported by volumes.
If the price remains below the trend line, we can expect a return to the price support level 1.3520.
The dollar is in demand and gained against major global currencies. The main news was the fact that the U.S. House of Representatives had voted in favor of a “clean” bill (without additional conditions) to raise the limit of public debt in order to avoid a default, as the Reuters reports.
The price fell to the downward trend line 1.3640 and the strong level of support. 1.3640 will be a good resistance for the Euro.
The backflow 1.3640 was in small volumes; therefore the sellers are still active and can lower the price to the support level 1.3570.
The single European currency was leading in the first part of the week versus all its major opponents. The euro rose, despite the fact that the data on the EU economy indicated unexpected results that rather be called weak.
The pair came to 38th figure on declining volumes. If the price does not consolidate above 1.3800 reverse rebound to the nearest support level 1.3700 may be expected.
The pair continues to trade in a narrow range. The probability of a continued growth towards the resistance 1.3830 remains high, and if it overcomes and consolidates above 1.3830, the mark 1.4000 testing may occur. The nearest support is 1.3625-1.3650.
If the consolidation continues at 1.3740 the price can roll back down. The potential target is 1.3700.
The interest in the euro, supported by a slight increase in the risk appetite has allowed the single currency to record a profit in trading versus the dollar. Perhaps, it was the result of the reducing the geopolitical tensions, as the main event of the moment is a referendum in the Crimea, provoked an armed clashes, the occurrence of which could result in the outbreak of war in the Central Europe.
There is a quite uncertain euro growth versus the U.S. dollar. The nearest resistance level 1.3925 is suitable for the volume lowering.
For its continued growth, buyers need to break and consolidate above 1.3925. As a result, the breakthrough opens the way for the buyers to the marks: 1.3960 1.4000 1.4050.
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