The recovery of the EUR/USD rate has managed to break the resistance of the 1.1200 mark. However, the weekly R1 simple pivot point has provided enough resistance for a retracement back down to occur. Economic Calendar Analysis On Thursday, the markets might react to the publication of the US Final GDP data release. However, the Final release is the one with the
Despite the publication of the European PMIs and sharp decline, the EUR/USD currency pair remains near the 1.1150 mark. In general, the rate still respects the resistance of 1.1200 and the support range near 1.1080. Economic Calendar Analysis On Tuesday, the CB Consumer Confidence index might impact the markets via an adjustment of the US Dollar's value at 14:00 GMT. On Thursday,
The United States Federal Reserve has cut interest rates more than the markets expected. The Fed has cut 0.50% instead of 0.25%. The larger than expected USD rate cut initially caused a USD decline, as the demand for USD to pay off loans is set to decrease. Afterwards, the Dollar recovered as soon as the press conference of the Chairman of
The bounce off from the 1.1000 mark has gained more momentum. The surge has revealed that it is occurring in a channel up pattern that has guided the pair through the resistance of the 1.1100 mark and the upper trend line of the broad channel down pattern. By late Monday, the rate was finding support in the weekly R1 simple pivot
Despite the Euro being impacted by the ECB rate cut, the rate has continued to respect technical levels. The rate is finding support in the 1.1000 mark and the zone that surrounds it. In the meantime, resistance is found in the 1.1040/1.1060 range. Economic Calendar Analysis This week's notable events are over. EUR/USD hourly chart analysis A move above the 1.1040/1.1060 zone and the
The Friday's high volatility that was caused by the US Employment data release was followed by a decline of the Euro against the US Dollar. By Monday, the currency pair had reached below the 1.1040/1.1060 range. In addition, it has been spotted that the rate is in a broad channel down pattern. Economic Calendar Analysis This week, on Wednesday, the markets will
After breaking the channel down pattern, the EUR/USD eventually surged, as the rate has managed to reach the combined resistance of the weekly simple pivot point at 1.1097, the 200-hour simple moving average and the 1.1100 mark. Economic Calendar Analysis On Thursday, at 12:15 GMT, the ADP Non-farm Employment Change might cause a move. However, the top employment data publication of
The 1.1040/1.1060 range has held and caused a minor recovery that has broken the ascending channel pattern's resistance and the 50-hour simple moving average. However, the rate has not started a broader decline, as it remains near the support range. Economic Calendar Analysis Notable events start on Tuesday. At 14:00 GMT, the ISM Manufacturing PMI data is set to be published and
The decline of the EUR/USD has reached the support zone at 1.1040/1.1060. Meanwhile, it has been spotted that the rate has been declining in a channel down pattern. Economic Calendar Analysis Next week, notable events start on Tuesday. At 14:00 GMT, the ISM Manufacturing PMI data is set to be published and might impact the US Dollar. On Wednesday, at 14:00 GMT, the
The EUR/USD attempted to pass the resistance of the 1.1190/1.1200 range for a second time, before failing. The failure was followed by a broader decline, which passed the 50, 100 and 200-hour simple moving averages, broke the ascending channel pattern, reached below the weekly simple pivot point. However, then the 1.1100/1.1105 range held, and it appeared that the rate might
During the Jackson Hole event, the Chairman of the Federal Reserve, Jerome Powell, stated that the central bank is set to cut interest rates. Due to this reason, the US Dollar's value plummeted. On the EUR/USD charts, it resulted in the pair breaking the 1.1160/1.1175 range. However, eventually the pair stopped at the 1.1200 mark. On Monday, the currency rate was
The surge of the EUR/USD has passed the 1.1100 level. Resistance has been encountered in the weekly R2 simple pivot point at 1.1130 and a major resistance zone at 1.1130/1.1200.In the meantime, Dukascopy Bank SA traders have added more to short positions and closed long positions, as open position volume is 74% in short positions.Economic Calendar Analysis The financial markets might
The EUR/USD was finding support in the 1.1000 mark, as the US Retail Sales release caused a major decline. Eventually, the decline of the pair found support in the 1.0935/1.0950 zone. By mid-Friday, the pair had recovered to the 1.1000 mark, but at the time of writing it was observed that the resistance was holding and a decline started. Economic Calendar
The EUR/USD was finding support in the 1.1000 mark, as the US Retail Sales release caused a major decline. Eventually, the decline of the pair found support in the 1.0935/1.0950 zone. By mid-Friday, the pair had recovered to the 1.1000 mark, but at the time of writing it was observed that the resistance was holding and a decline started. Economic Calendar
The EUR/USD has managed to not only pass the resistance of the 1.0940/1.0950, but also the 1.1000 mark. Most recently, the pair extended its surge and found resistance at 1.1040. The resistance was enough to force the pair to start a decline. Economic Calendar Analysis On Thursday, the US Retail Sales data will reveal whether total sales of consumer goods hae continued
Since Friday, the EUR/USD has been almost flat. The rate has continued to fluctuate near 1.0920. Meanwhile, it was spotted that the pair is mostly ignoring the 50 and 100-hour simple moving averages. Economic Calendar Analysis This week, on Tuesday, watch the publication of the United States Producers Price Index at 12:30 GMT. This data release will provide an insight into US
Since mid-Tuesday, the pair has been fluctuating around the 1.0900 mark. However, the fluctuation range has its borders. Support is found in the 1.0870/1.0880 range. Resistance is provided by the 1.0940/1.0950 zone. Economic Calendar Analysis There are no more notable events scheduled for this week that could impact the markets. EUR/USD hourly chart analysis A move above the 1.0940/1.0950 zone is expected to encounter
The crash of the US Dollar that was experienced on Monday resulted in the EUR/USD shortly trading above the 1.1000 mark. However, the 1.1000 held and the markets have calmed down. After the failure to move higher, the pair moved back to the 1.0900 level. Economic Calendar Analysis The second week of August lacks notable events. The only event that could cause
The US Bureau of Labor Statistics has published the monthly employment data. Released data has shown a major increase in unemployment. The US Dollar index reacted to the news by sharply declining. Average Hourly Earnings were forecast to show a monthly increase of 0.3%. The actual income change is just 0.2%. Non-Farm Employment Change was expected to show a reading of
The EUR/USD appears to have waited the Federal Reserve announcement in the range between 1.0800 and 1.0850 with some price action being caused by the 1.0825/1.0830 range and the release of the European CPI. However, the top event still was the Fed. After the Fed not announcing anything new, the EUR/USD has picked a direction. On Thursday, the currency pair declined
The currency exchange rate has passed below the support of the 1.0825/1.0830 range. Moreover, on Monday morning the decline reached below the weekly S1 simple pivot point at 1.0819. In the near term future, the EUR/USD is expected to reach the 1.0800 mark.In the meantime, it was spotted that traders have taken profits. Namely, 57% of volume at Dukascopy was
The EUR/USD has been trading around the 1.0850 mark for most of the week, as it has been bounced around by US data releases. Meanwhile, the pair has revealed a new support and resistance range at 1.0825/1.0830. On Friday, the rate was finding support in the 1.0840/1.0850 range and minor resistance was provided by the 100-hour simple moving average. However,
The EUR/USD currency pair has passed below the 1.0870/1.0880 and 1.0840/1.0850 ranges. The first range was passed, as the rate faced the resistance of technical levels and the 1.0900 mark. Afterwards, 1.0840/1.0850 failed due to the release of disappointing European Purchasing Managers Index survey results. Meanwhile, it was spotted that Dukascopy traders have taken profits. Traders were 75% short on
The EUR/USD has been moving in reaction to US data, comments on Federal Reserve policy and the ECB announcement. In general, the rate has been pushed up and down, but it is still near the 1.0900 level. Support is found in the 1.0870/1.0880 range and resistance has been confirmed to be located at 1.0940/1.0950. On Monday, the rate was located