Author Topic: Daily EUR/USD Analysis from ForexMart  (Read 14464 times)

Offline Andrea ForexMart

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Re: Daily EUR/USD Analysis from ForexMart
« Reply #90 on: December 14, 2017, 02:57:23 PM »
EUR/USD Technical Analysis: December 13, 2017

The EURUSD edged downwards as the German investor confidence came in weaker than predicted results, along with the robust figures of American inflation data that reinforced the US dollar and put pressure on the single European currency. Small business confidence in the United States also showed secured position combined with strong  U.S. chain store sales.

Originally, the euro-dollar pair trailed lower on Tuesday and drove upwards to test the resistance at 1.1819 area near the 10-day moving average. The support of the pair touched the 1.1675 region around the ascending trend line. While prices generate a topping formation and market participant anticipates for the Fed decision as the central bank is highly expected to increase interest rates in the US by 25 basis points. The momentum became negative and the MACD indicator created a crossover sell signal. The moving average convergence divergence further prints in the red with a descending trajectory which implies for a lower exchange of rate.

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Re: Daily EUR/USD Analysis from ForexMart
« Reply #90 on: December 14, 2017, 02:57:23 PM »

Offline Andrea ForexMart

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Re: Daily EUR/USD Analysis from ForexMart
« Reply #91 on: January 03, 2018, 04:13:01 PM »
EUR/USD Technical Analysis: January 3, 2018

The Euro against the U.S. dollar climbed higher testing the resistance levels because of the exceedingly strong results of the manufacturing PMI following hints of the ECB meeting to end the quantitative easing in 2018. The European Central Bank has adjusted to the situation but with a steady inflation and progressive growth propelled the euro at a much higher rate.

The EUR/USD pair reached close to the September high at 1.2092 but was unsuccessful in breaking this rate. A strong euro has put pressure on the European stocks putting corporations into the lesser advantage against their competitors. The support level is found close to the 10-day Moving Average at 1.1920. The MACD histogram has been positive as it is printed in black with an upward sloping trajectory which could lead to a much higher Forex rate. The RSI indicator also gives an increasing positive momentum although the current rate is at 71. This is much higher than the overbought level of 70, which hints the possibility for a correction.