Author Topic: Daily EUR/USD Analysis from ForexMart  (Read 14596 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.

Offline Andrea ForexMart

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Re: Daily EUR/USD Analysis from ForexMart
« Reply #92 on: Today at 09:58:55 AM »
EUR/USD Fundamental Analysis: January 22, 2018

The euro is being traded steadily since morning today. It seems that it weakened during Friday and it was able to support the level of 1.22 following the rebound to the support area and soared higher which continues until today. There has been major news from the U.S. and the eurozone which would bring volatility in the market.

Although the volatility present was insufficient to push the pair in either direction and stayed within a tight range between 1.22 and 1.23 over the past few weeks. There is a risk for a government closure as the bill has been passed which was blocked in the Senate through suffrage. It is anticipated that there will be an interim bill which will occur during the U.S. session. Nevertheless, this would have an effect on the dollar amid the various problems the U.S. encounter in the past few years.

This would be problematic for the Trump administration, which is not surprising. There are reports where the debate between Merkel and SPD party would continue looking for a coalition for short-term. This would keep the euro buoyed up during this period of time. There is also a press conference by the end of the week which is anticipated by the market on the decision of ECB.

For today, there are no major news from the U.S or the eurozone, which is already anticipated to happen in the second half of January. Although, there is various economic news to be reconsidered on either side, which would induce the volatility at bay.