Author Topic: Daily EUR/USD Analysis from ForexMart  (Read 12090 times)

Offline Andrea ForexMart

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Re: Daily EUR/USD Analysis from ForexMart
« Reply #60 on: April 17, 2017, 05:11:02 PM »
EUR/USD Technical Analysis: April 17, 2017

A sell-off occurred last Thursday was followed by the building recovery attempt by the single European currency on Friday. Meanwhile, sellers were unable to cut through below the region 1.0600. In light of this, the price resulted to rebound through the level during the night and trailed northwards amid day trading.

The EURUSD highlighted 1.0625 in the late session of Europe. Resistance entered the area 1.0650  while the support lies at the mark 1.0600.

A fresh bearish pressure is expected in the short-term. A breakout within 1.0600 would direct to its next objective at 1.0550.

Moreover, the major headed through 1.0650 for a correction. A gapped near the region would extend the recovery towards 1.0675. A bounced off hitherto will send back bearishness in the market.

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Re: Daily EUR/USD Analysis from ForexMart
« Reply #60 on: April 17, 2017, 05:11:02 PM »

Offline Andrea ForexMart

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Re: Daily EUR/USD Analysis from ForexMart
« Reply #61 on: April 21, 2017, 02:10:31 PM »
EUR/USD Fundamental Analysis: April 20, 2017

   The EUR/USD pair encountered a lot of selling pressure after it reached the 1.0750 trading range and was unable to make any significant progress beyond this particular region. The currency pair has tried in vain to break through this range and has since then resorted to consolidating between 1.0750 and 1.0700 region for the duration of yesterday’s session, with the pair’s bulls mostly responsible for maintaining the pair’s position within its range highs.

   There were no economic news released during the previous session and this is why the EUR/USD pair merely engaged in a ranging and consolidating mode with a bullish undertone for the US dollar. The USD strength was not that pronounced and was only able to induce a minor correction in the EUR/USD pair. However, there are some members of the ECB that are saying that economic speculations in the eurozone could possibly exceed market expectations, however this did not make a significant dent in the current value of the EUR/USD pair. The 1.0750 trading range could possibly be a good position for the pair’s bears to push the currency pair down, where the selling is expected to surge. The currency pair could also possibly correct towards 1.0600 unless a major market phenomenon shocks the market yet again.

   For today’s trading session, the US will be releasing its unemployment claims data as
well as its Manufacturing Index data while there are no expected releases from the EU economy. The US Treasury secretary will also be making a speech within the day and this is expected to increase today’s market volatility. On the other hand, the USD is expected to hold its ground and the currency pair will most likely remain within its current range.

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Re: Daily EUR/USD Analysis from ForexMart
« Reply #62 on: April 27, 2017, 12:56:13 PM »
EUR/USD Technical Analysis: April 26, 2017

On Tuesday, the Euro bulls were able to win back the driver’s seat following a neutral position in the night.

The major were removed from the region 1.0850 during the morning trades of Europe as it moved and rallied near its fresh peaks found at 1.0900 mark.

The price halted within the 1.0900 in which the EURUSD eyes some renewed offers. The single European currency had moderately eased eliminating its entire gains in the morning eventually.

As shown in the 4-hour chart the technical indicators appeared to be bullish. Resistance touched 1.0900 level, support pierced through 1.0850 range.

Moreover, a close over 1.0900 is expected to yield fresh bullish indicator in order to move further. It could probably reach the 1.0950 hurdle but correction is not ruled out as a means of filling the gap.


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EUR/USD Technical Analysis: May 3, 2017
« Reply #63 on: May 03, 2017, 03:03:44 PM »

The EURUSD remained steady on its position as it trades in a comparably tight range regardless of the massive data from the European region such as unemployment and PMI.

While the agreement made in Greece together with IMF and EMU is expected to maintain the pair in a higher stand.

While central bankers were on the news and brought challenges towards Mario Draghi in pursuing a dovish sentiment. The pair extends its consolidation on the first day of Europe’s long weekend and created a bull flag pattern which serves as the pause to stimulate.

Traders are anticipated to postpone its action prior to the U.S Non-Farm Payrolls scheduled on Friday or the fulfillment of second-round election in France preceding the major to reach its renewed highs.

Resistance lies at 1.0955 close on its previous week’s high while the support came in at 1.0843 next to the 10-day moving average.

The momentum kept a favorable stance since the MACD were printed in black along with an upward sloping path reflected in the histogram. This event had influenced to the advancing positive trajectory pointing to a greater exchange rate.

An upward trend of the Relative Strength Index is seen at 67 posted on the upper side of the neutral range.

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EUR/USD Technical Analysis: May 15, 2017
« Reply #64 on: May 15, 2017, 07:06:30 PM »

The EURUSD edged upwards amid Friday sessions as it cleared up the top of Wednesday and Thursday candles followed by the release of the less than stellar figures of United States. In light of this, the market would likely touch above the 1.10 region which the resistance.

A gap over the mentioned area indicates a bullish tone, probably moving towards the 1.13 range trailing to 1.15 eventually.

The market consolidated in the midst of 1.05 and 1.15 levels in the past years. We are currently located in middle of the trading range which is close to the “fair value” which results for a complex trading setting in the near future.

The back and forth trading in the near-term is highly anticipated for the next few sessions. While short-term charts will also lead forward since consolidation is required in the overall region.

A gap overhead the 1.10 area will trigger further purchasing interest. However, a break below the 1.0750 mark will drove to 1.05 handle.

The market is projected to be very volatile and uneasy to trade, mainly because of the concerns that the European Union are currently involved with the United Kingdom together with other nations.

Despite the results, it is vital to maintain your stop loss take, and take note that the market is somewhat aimless in the long-term.

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EUR/USD Technical Analysis: May 17, 2017
« Reply #65 on: May 17, 2017, 01:01:52 PM »

The EURUSD raise higher because of the support of a strong growth and below-than-expected data in the housing number of the United States which brought an impact towards the U.S Treasury yields, hence placing a downward pressure to the American dollar. The sales of US chain stores keep worsening that caused for the greens to move lower.

The Europe started to gain more confidence with hopes that the European Central Bank is going to remove the quantitative easing.

The pair climbed upwards reaching 0.9% near the mark 1.1080. The price was cut into the downtrend sloping line moving close to the support region 1.0990.

Further support is found alongside the 10-day moving average approaching the 1.0940 level. The target resistance can be spotted at 1.1299 touching its November peaks. Moreover, the momentum was positive since the moving average convergence divergence (MACD) histogram formed a crossover signal to buy. This is the result of the spread that crossed over the 9-day EMA of the spread.

The histogram shifted from negative to positive area indicating a buy signal. It also printed in the black along with an upward sloping trajectory and turns to a higher rate.

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EUR/USD Technical Analysis: May 24, 2017
« Reply #66 on: May 24, 2017, 01:48:30 PM »

The EURUSD attempted to move through the higher region on Tuesday, however, failed to maintain its gain upon reaching the level 1.1268. When the profit taking started the pair was pushed beneath the 1.12 handle.

Meanwhile, the stronger report of GDP and sentiment data buoyed the EUR/USD and the yields turned up in Europe as relating to its American counterparts. Moreover, the PMI readings kept unchanged in the month of May, as the German nation lead the charge that reflects towards a strong growth.

The major pair touched the higher high as it eclipses the prior day high using 5 pips. The resistance is found at 1.1299 level close to November 8 highs and in case the level will be broken, it would lead to testing 1.1365 region near its August highs in 2016.

The support entered the mark 1.1603 around the 10-day moving average. Momentum is slow-moving, seeing the moving average convergence divergence (MACD) print in the black together with a descending trajectory that drives towards the consolidation.

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EUR/USD Technical Analysis: June 5, 2017
« Reply #67 on: June 05, 2017, 06:40:48 PM »

The EURUSD moved through an upward direction on Friday after the release of weak data on employment report. The U.S yields further weakened as prices ascended at a faster pace compared with the European bonds. This made the euro lure attraction of investors prior the ECB meeting scheduled next week.

The European producer price manifested stronger figures, beating expectation which paved the way for a higher rate on the pair. The pair had broken out on the back of a bull flag formation which serves as a pause to refresh higher.

The prices increased by 1.1282 region just shy of 1.1299 close to November 8 highs. The next resistance target is found at the mark 1.1365 near the highs of August 2016. The support reached 1.1206 area around the 10-day moving average.

The momentum came in neutral while the MACD histogram printed nearby the zero-index level whereas the index appeared to be in a flat trajectory suggesting for a consolidation.

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EUR/USD Technical Analysis: June 13, 2017
« Reply #68 on: June 13, 2017, 03:37:08 PM »
 
The European Central Bank decided to stabilize the apple cart and did not talk about the withdrawal of Quantitative Easing turning the focus towards the talks regarding Brexit and politics. Italian elections were delayed which helped yields from Italy to decline on the back of an extensive narrowing of spreads followed by the dovish remarks pronounced by M. Draghi.
However, lots of political challenges remain in the future.
 
The anti-European forces appeared to be inactive while in Catalonia, Spain threatens the stability of the Spanish country due to the independence referendum planned for October 1.
 
The debt relief of Greece continue to hang in the Euro region and this is the expected major topic in the EU meeting scheduled on Thursday.
 
The EURUSD tried to move higher but failed to reacquire its previous resistance found at 1.1227 level close to the 10-day moving average.
 
The exchange rate indicates the second day of the Doji formation that further shows uncertainties where the close and open levels are in the same range.
 
Moreover, the pair seems to generate a  head and shoulder reversal pattern which starts to produce the right shoulder followed by the left and lastly the head which resistance region entered the 1.1285 area.
 
Prices in the previous weeks failed to break 1.1299 mark seen around the November 8 highs. The major’s near-term support holds 1.1109 near the lows of May 29.
 
The momentum became negative since the moving average convergence divergence (MACD) develops a sell signal to take a crossover. It emerged because the spread crosses underneath the 9-day exponential moving average. The histogram shifted to negative grounds from the positive territory establishing a sell signal. The index also prints in the read paired with a descending trajectory that points towards a lower rate of the EUR/USD.

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EUR/USD Technical Analysis: June 27, 2017
« Reply #69 on: June 27, 2017, 05:58:27 PM »

The EURUSD is trading sideways during Monday’s session, however, met the resistance level at 1.12. A breakdown below that point and touched under the region 1.1175, then spotted a slightly bullish pressure. A cut through on top of the 1.12 handle and a pulled back from that point will see for another support.

With this, the pair is inclined to continue its ascending trend or maybe tried to touch the 1.13 mark in the longer term.

Volatility is still high in the market which would likely cause the single European currency to remain a market that is not easy to trade with, therefore, buying is our only choice.
The “fair value” is found at the 1.12 area and this point should be maintained. Buyers are starting to dominate the market, and there is no reason to stop moving near the 1.13 mark again.

It is possible that the market will continue to provide lots of buying opportunities on the dips in the short-term at least.

The market appeared to be crucial when imposing a sell signal unless we break the region under 1.1170. Ability to breakdown will lead the market towards 1.1125 handle.

A cut through over 1.13 mark, the market will drive going to the top of 1.15 range which is a strong barrier as indicated on the longer-term charts. As consolidation between the bottom of 1.05 and top of 1.15 continues in the past three years.

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EUR/USD Technical Analysis: June 30, 2017
« Reply #70 on: June 30, 2017, 03:02:30 PM »
 
The currency pair EUR/USD had broken out and expected to resume its upward movement while inflation data appeared to be stronger than anticipated that lead the European yields higher.
 
The yield differential currently moves to the side of EU yields that paved the way for the single European currency to gain higher.
 
Confidence further surges on its renewed decade highs while consumer lending also increased. Most of the headlines from the United States came in better than expected, however, American yields are following its EU counterparts that put pressure to USD.
 
The pair broke out through its fresh 1-year peaks over the resistance at 1.1365 around highs of August 2016 while trying to test 1.1616 level near May 2016 peaks.
 
The support reached 1.1365 mark which is a previous resistance, followed by the 10-day moving average seen at 1.1148 region.
 
The pair’s momentum became positive when the moving average convergence divergence (MACD) produced a crossover buy signal. It was generated due to spread that crosses on top of the 9-day moving average. The histogram shifted from negative to positive zone and confirmed a buy signal. The index prints in the black with an ascending trajectory indicating a higher exchange rate.

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EUR/USD Technical Analysis: July 5, 2017
« Reply #71 on: July 05, 2017, 04:32:30 PM »
 
The euro-dollar pair resumed its downfall while the U.S. yields were able to make further progress on the back of the stronger-than-expected result of the  ISM Manufacturing report issued on Monday. The US market was closed on Tuesday due to  Independence Day holiday, however, there are few catalysts that stimulate the EURUSD amid balance of the week which includes the United States’ Payroll report on Friday.
 
The pair headed lower and bound to test the support close to the 10-day moving average found at 1.129. The exchange rate eased from the 1.14 handle which is considered the 1-year high and stayed around 1.1350 region near the peaks of August 2016.
 
The resistance highlighted the 1.1444 mark. Momentum came in neutral while the moving average convergence divergence (MACD) histogram prints in the black linked with a flat trajectory which suggests some consolidation.

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EUR/USD Technical Analysis: July 6, 2017
« Reply #72 on: July 06, 2017, 03:54:04 PM »

The EURUSD rebounded from its session lows after the release of FOMC minutes which indicates rising concerns of Fed officials regarding the drop in inflation accelerating.

The pair buoyed due to stronger data showed by the EU PMI and Retail Sales.

Peter Praet from the European Central Bank strongly suggests to be leery and patient and take it slow in changing the monetary policy.

The pair further bounced around the support level 1.1318 close to the 10-day moving average.

The resistance approached the 1.1444 region around the June highs. The momentum on the euro-dollar pair came in neutral while the moving average convergence divergence (MACD) histogram prints near the zero index level. The index constitutes a flat trajectory pointing towards consolidation.

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EUR/USD Technical Analysis: July 13, 2017
« Reply #73 on: July 13, 2017, 04:36:21 PM »

The euro-dollar was able to clear the level 1.1488 followed by the strong data of the EMU production while the ECB Governing Council member, Ignazio Visco emphasized again that the European region should have a stronger expansionary policy.

The exchange rate had reversed its direction during the latter part of the session, then whipsawed after the testimony of Fed Chair Janet Yellen in front of Congress. The exchange rate further increased, however, failed to preserve its gains after an upward movement towards the 1.1489 region which is currently the resistance. The support of the pair can be found on the 10-day moving average at 1.1404 mark.

The momentum gained the neutral position while the MACD histogram is printed near the zero level and the index further prints in the black with a flat trajectory which indicates consolidation.
The rate consolidates continuously after the break out and hovered in the bull flag continuation pattern which is a respite that prompts higher.

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EUR/USD Technical Analysis: July 25, 2017
« Reply #74 on: July 25, 2017, 05:26:52 PM »

The yields across the eurozone weakened while the US dollar make further progress and the 10-year bund yields moved lower at 0.50% as the spreads of the euro area narrowed, following the sluggish results of the PMI readings based on the doubts of M.Draghi to get involve with the QE tapering.

The fresh dip in long yields influenced the EURUSD, however, the remarks from Mersch yesterday verified the postponement and not the cancellation of the QE. Moreover, the ECB will reduce the volume of its asset-buying program which is expected to start earlier in 2018.

The euro-dollar pair rallied to its renewed 23-month high around 1.1694 level and headed lower amid the balance of the trading hours to close the day.

The support for the pair entered the 1.1523 region that is near the 10-day moving average. The resistance reached the 1.1717 mark near the highs of August 2015.

The momentum is still positive as the moving average convergence divergence (MACD) index prints in the black linked with an ascending trajectory and seen pointing to a higher exchange rate.