EUR/USD
Miembro desde Jul 10, 2014
posts 1117
Apr 05, 2016 at 15:42
rosentray posted:
Fundamentals are impacting EUR/USD today driving its price down today due to weakness in the European markets. Main support zone remains 1.1340, main resistance 1.1410.
You're right, the pair is still consolidating. I think the consolidation will continue until they announce the FOMC meeting minutes tomorrow.
Apr 05, 2016 at 16:40
The euro broke five-day winning streak on Monday, which retreated moderately to dollar to 1.1388. The session ranged in the final values 1.1412 and 1.1357. Currently EUR/USD continues to consolidate above the rising moving averages, but the relative strength index retreated from extreme levels. A likely target is the 1.1435 but break of 1.1355 will open the way for a test of 1.1290.
Miembro desde Oct 11, 2013
posts 775
Apr 06, 2016 at 04:06
From the current level on the EURUSD, the price may head in any direction, but the bullish trend is still in place and there could be a bullish breakout.
Miembro desde Apr 08, 2014
posts 1141
Apr 06, 2016 at 07:38
Yesterday EURUSD went back and forward without any clear direction again but this time with a wide range and closed in the middle of the daily range, in addition managed to close within the previous day range, suggesting lack of momentum plus indecision among the traders.
The pair is trading above the 10, 50 and the 200-day moving averages that are acting as dynamic supports.
This lack of momentum is not strange with traders looking for some clues and guidance from the FOMC meeting minutes later today.
The key levels to watch are: A daily resistance at 1.1555, other daily resistance at 1.1456, the previous swing high at 1.1342 (support), the 10-day moving average at 1.1327 (support), and daily support at 1.1237.
The pair is trading above the 10, 50 and the 200-day moving averages that are acting as dynamic supports.
This lack of momentum is not strange with traders looking for some clues and guidance from the FOMC meeting minutes later today.
The key levels to watch are: A daily resistance at 1.1555, other daily resistance at 1.1456, the previous swing high at 1.1342 (support), the 10-day moving average at 1.1327 (support), and daily support at 1.1237.
"I trade to make money not to be right."
Miembro desde Jul 10, 2014
posts 1117
Apr 06, 2016 at 16:11
EUR/USD broke above 1.1400 but is currently testing the resistance at 1.1420 - 1.1430 and I think it will break above it once the FOMC meeting minutes get announced later today. I haven't opened new longs, however, not before the fundamentals.
Apr 06, 2016 at 16:58
Euro/dollar had another indecisive movement yesterday. Short-term expectations remain neutral. The longer the pair holds above 1.1335, the price is still in bullish phase for testing 1.1500. On the downside, a clear break and daily close below 1.1335 could trigger further bearish pressure testing 1.1250 or lower. The main technical outlook also remains neutral.
Miembro desde Apr 08, 2014
posts 1141
Apr 07, 2016 at 07:51
Yesterday EURUSD went back and forward without any clear direction again with a wide range, creating an outside day and closed in the middle of the daily range, in addition managed to close within the previous day range, suggesting lack of momentum plus indecision among the traders.
The pair is trading above the 10, 50 and the 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: A daily resistance at 1.1555, other daily resistance at 1.1456, the 10-day moving average at 1.1357 (support), the previous swing high at 1.1342 (support) and daily support at 1.1237.
The pair is trading above the 10, 50 and the 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: A daily resistance at 1.1555, other daily resistance at 1.1456, the 10-day moving average at 1.1357 (support), the previous swing high at 1.1342 (support) and daily support at 1.1237.
"I trade to make money not to be right."
Miembro desde Sep 28, 2015
posts 34
Apr 07, 2016 at 08:43
Same as last time EUR/USD first needs to clear 1.1425 and still not yet successful in its attempts.
Miembro desde Jul 10, 2014
posts 1117
Apr 07, 2016 at 10:40
EUR/USD is still testing the resistance at 1.1400 and oscillating between that level and 1.1350 despite the fundamentals yesterday. Hopefully today's speeches by Janet Yellen and Mario Draghi will provoke more volatility in the pair.
Apr 07, 2016 at 11:38
Further cuts not off the table in the ECB monetary accounts,
'[...]
Against this background, overall, members broadly supported a further cut in the deposit facility rate. With respect to the envisaged size of such a cut, the importance of communication and the link to the formulation of forward guidance was underlined. On the one hand, a sharper rate cut could be considered, together with indications that the effective lower bound would have been reached for all practical purposes.'
and
' It was argued that, from today’s perspective, and taking into account the support provided by the policy measures to growth and inflation, policy rates would be expected to remain at very low levels and that further rate reductions would not be anticipated at this stage. Nonetheless, the Governing Council would not rule out future cuts in policy rates, as new shocks could change the outlook for inflation, which might warrant further monetary policy action, with policy rates remaining part of the Governing Council’s toolbox.'
'[...]
Against this background, overall, members broadly supported a further cut in the deposit facility rate. With respect to the envisaged size of such a cut, the importance of communication and the link to the formulation of forward guidance was underlined. On the one hand, a sharper rate cut could be considered, together with indications that the effective lower bound would have been reached for all practical purposes.'
and
' It was argued that, from today’s perspective, and taking into account the support provided by the policy measures to growth and inflation, policy rates would be expected to remain at very low levels and that further rate reductions would not be anticipated at this stage. Nonetheless, the Governing Council would not rule out future cuts in policy rates, as new shocks could change the outlook for inflation, which might warrant further monetary policy action, with policy rates remaining part of the Governing Council’s toolbox.'
Miembro desde Mar 28, 2016
posts 93
Apr 08, 2016 at 07:11
The EURUSD had another indecisive movement yesterday. We have five consecutive Dojis as you can see on my daily chart below suggests a consolidation phase. The bias remains neutral in nearest term. Potential daily range today remains between 1.1500 – 1.1335. As long as stay above 1.1335 price is still in a bullish phase testing 1.1500 which remains a good place to sell with a tight stop loss. On the downside, a clear break and daily/weekly close below 1.1335 could trigger further bearish pressure testing 1.1250 or lower next week.
