Author Topic: Daily EUR/USD Analysis from ForexMart  (Read 5409 times)

Online 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 »

Online 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: Today at 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.