Nobody was expecting such a drop for the US GDP. The median forecast for the current release was around -1.8%. This show that the US economy is still not that strong and Fed did well not cutting the QE even more at the last FOMC meeting. Core Durable Goods Orders fell 0.1% (exp. 0.3%). This was another tough punch for the dollar and the economy, right after the real estate market was signaling a comeback. The dollar got a very strong hit at this moment. EURUSD hit a 15 days high at 1.3650, … [Read more...]
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The price made a false breakout below 1.3745, yesterday, and rallied very fast all the way to 1.3800. It did not close, on a 60 minutes chart, above this round level so it dropped back to 1.3761. A close below this local support could mean that the US dollar could get back to 1.3747. A close above the 200 EMA would be a positive signal which would confirm the Falling Wedge. Upside target is 1.3815. Economic Releases Even though Technical analysis is important and can help us trade … [Read more...]
The EURUSD quotation was rejected from 1.3700, last Friday. Not it is trading sideways above 1.3745. A break above the local resistance could signal a continuation of the rally to 1.3800, while a break and close, on a 60 minutes chart, bellow the current support could mean another test on 1.3700. The Rising Wedge that is drawn could be a strong bearish signal in case of confirmation. … [Read more...]
EURUSD has broken the support area at 1.3750 and reached for my target level of 1.3700. The trend remains on the downside, but we could expect a corrective move that would touch 1.3730 or even 1.3745. A break below 1.3700 could mean that bears are pushing the price towards 1.3650, near the rejection line of a possible down channel. … [Read more...]
EURUSD dropped back to the 1.3750 support area. Here bears are putting more pressure. A close on a 60 minutes chart bellow 1.3740 would clearly be a negative signal. As a next support I am considering 1.3700. I would keep an eye open for a false breakout which could mean a rally for the Euro back to 1.3800. … [Read more...]
I have observed that the EURUSD had a pretty high volatility for during the first trading days of this week. It has reached 1.3880 on Monday and yesterday, was already back to 1.3745. This currency pair it is traded in a sideways move limited by this two levels. A break above 1.3840 would be a positive signal which could tell us that bulls are ready to take action. A fall below 1.3800 would signal that bears are in control and the key support will be tested again. … [Read more...]
Euro had a 90 pips rally yesterday. The EURUSD price went all the way to 1.3875, but pulled back and consolidated near 1.3830. A break above 1.3840 and the 200 EMA, for the 60 minutes chart, could mean another rally to retest 1.3875, 1.3880 or why not 1.3900. Keep your eyes open for a break under 1.3920, because that would be a negative signal. In this case the price could fall back to the 1.3760 support level. … [Read more...]
EURUSD has drawn a Flag pattern on its way up, to retest 1.3815. A drop under the lower line of the Flag could mean that bears are ready to take control again and send the Euro all the way to 1.3700. If the price will close above the resistance area on a 60 minutes chart we should expect a rally to 1.3850 o even higher. Don't forget to keep an eye on the economic calendar for the latest releases. … [Read more...]
The support area failed to sustain the price above. EURUSD dropped yesterday all the way to 1.3750 from where it was rejected. Now it seems that bulls are trying to push it back towards the resistance area (ex support formed of the broken trend line and 1.3800/15 zone). Keeping in mind that it is now under the 200 EMA, I would not be surprised to see another drop and a continuation of the down trend. Lower targets would be 1.3750 and 1.3700. … [Read more...]
The European single currency lost ground in front of the US dollar after the FOMC policy meeting yesterday. The EURUSD price dropped bellow the range support and 200 EMA, but stopped at 1.3815 where it found a very good support level and the up trend line. At this point a close on a 60 minutes chart above 1.3850 could mean a retest on the 200 EMA. A drop bellow the support area market with red would be a bad signal for bulls. … [Read more...]
EURUSD it seems to be moving sideways between 1.3945 and 1.3875, but above the 200 exponential moving average. A break above the resistance area could signal a rally to 1.3965 or 1.40. A drop bellow the local support at 1.3915 could mean that the Euro might lose some ground and retest 1.3900 or even lower the EMA. Do not forget about the FOMC meeting and statement today. It might trigger high volatility for this instrument. … [Read more...]
The EURUSD broke yesterday the local support and tested the middle line of an up channel. Rejected from there, the price rallied to 1.3945 where it found a resistance. During the past trading hours, can be seen that it moved sideways between the resistance specified earlier and a local support at 1.3917. A break bellow the support could mean another test on 1.3900. A false breakout down or a direct rejection might signal another rally that could target the 1.3965 high. … [Read more...]