On Wednesday, at 18:00 GMT, the EUR/USD surged, as the US Federal Reserve Federal Open Market Committee issued a monetary policy statement. The currency exchange rate surged 73 pips or 0.61% in the span of 40 minutes following the release. In general, the statement revealed that US interest rate hikes are not to be expected. In addition, the Fed is set
After a test of the resistance of the 1.1950 mark, the EUR/USD eventually declined below the support of the 1.1915/1.1910 zone. Afterwards, the pair found support in last week's low levels at 1.1882/1.1888. Since Tuesday's GMT afternoon hours, the pair was trading sideways between the two mentioned zones. In the meantime, the rate was being approached by the resistance of the
Since the middle of Monday's trading, the EUR/USD has traded sideways between the support of the 1.1910/1.1915 and the resistance of the 1,940.00 level. In addition, resistance was being provided by the 55 and 100-hour simple moving averages. Future forecasts were based upon, which of the mentioned levels fails to hold. Economic Calendar Analysis On Tuesday, at 12:30 GMT expect the US Retail
The EUR/USD started the week by ignoring technical resistance and support levels. Instead, the rate could be observed respecting round exchange rate levels. For example, from 07:00 GMT to 12:00 GMT the rate traded between the 1.1920 and 1.1940 levels. In the meantime, it was previously noted that the 1.1910 provided support and 1.1960 level provided resistance. Economic Calendar Analysis On Tuesday, at
By the middle of Friday's trading hours, the EUR/USD broke the channel up pattern and past the support of 55-hour simple moving average. Afterwards, the rate found support in 1.1915 and 100-hour SMA. The decline was caused by a fundamental event. The ECB announced the increase of monetary stimulus on Thursday. Namely, the supply of EUR is expected to rise. Economic Calendar
By the middle of the day's European trading hours, the currency exchange rate had reached the resistance of the 200-hour simple moving average and the weekly simple pivot point at 1.1975. In the meantime, analysts spotted a channel up pattern, which had guided the rate throughout this week. It captures the broad decline of the USD, which can be spotted on
The EUR/USD did not reach the 1.1950 level, as it encountered resistance at 1.1915. In the meantime, the rate was being approached from above by the 100-hour simple moving average. Near term forecasts were based upon whether or not the 100-hour simple moving average provides resistance. Economic Calendar Analysis Notable data releases will start on Wednesday. On that day, the US Consumer Price
At the start of Tuesday's trading, the EUR/USD found support in the weekly S1 simple pivot point at 1.1838. It resulted in a surge, which passed the resistance of the 55-hour simple moving average. In the near term future, the pair was expected to reach for the 1.1950 level and the 100-hour simple moving average. Economic Calendar Analysis Notable data releases will start
The EUR/USD has extended its decline, as on Monday the rate reached below the support of the 1.1900 mark. The rate started the decline on Thursday, as the head of the Federal Reserve made comments on monetary policy. In the near term future, the rate was expected to look for support in the 1.1850 mark. Economic Calendar Analysis Notable data releases will
The speech of the Chairman of the Federal Reserve Jerome Powell on Thursday at 17:00 GMT caused a surge of the US Dollar, which beat down the EUR/USD. By the middle of Friday's GMT trading hours, the rate had reached the 1.1920 level. In the near term future, the rate was expected to look for support that would force it
The EUR/USD bounced off the resistance of the 1.2100 mark and began a decline. At mid-day on Thursday, the decline was expected to eventually reach the 1.2000 level. Future short term forecasts were based upon whether the 1.2000 mark provides support. Economic Calendar Analysis On Wednesday, the US ADP Non-Farm Employment Change at 13:15 GMT will be on the headlines. However, the market
The 1.2000 mark managed to provide enough support to the EUR/USD to cause a surge back to the 1.2100 mark. At mid-day on Wednesday, the rate was testing the resistance of the 1.2100 mark, as it made attempts to pass it and reach the technical levels at 1.2125. Economic Calendar Analysis On Wednesday, the US ADP Non-Farm Employment Change at 13:15 GMT will
On Tuesday, the EUR/USD had reached the support of the 1.2000 mark. By doing this, the rate had passed the support of the mid-February low level and the weekly S1 simple pivot point at 1.2011. In the meantime, the rate was being approached by the resistance of the 55-hour simple moving average, which was located near 1.2070. Economic Calendar Analysis On Wednesday, the
The EUR/USD tested the resistance of the 1.2100 level on Monday morning. The currency exchange rate's near term future was dependant on what would happen at that level. Economic Calendar Analysis Notable data releases start on Monday. The US ISM Manufacturing PMI could cause a EUR/USD move from 9.1 to 14.5 pips. On Wednesday, the US ADP Non-Farm Employment Change at 13:15 GMT
Instead of reaching the resistance of the 1.2250 mark, the EUR/USD bounced off the 1.2240 mark and began a decline. At the start of Friday's London trading hours, the rate had reached the support of the 200-hour simple moving average near 1.2130. In the meantime, the rate ignored the support and resistance of the 55 and 100-hour simple moving averages. Economic Calendar
On Thursday, the EUR/USD broke the resistance of the 1.2170/1.2190 zone. However, it occurred differently than expected, as the rate had to retrace to the support of the 200-hour SMA before the surge. By the middle of Thursday's GMT trading hours, the rate was heading to the resistance of the 1.2250 mark, which was strengthened by the weekly R2 simple pivot
As expected, the EUR/USD found support in the 55-hour simple moving average. However, by the middle of Wednesday's trading, the SMA had not managed to cause a surge. In regards to the near term future, the rate was expected to test the resistance zone from 1.2170 to 1.2190. Economic Calendar Analysis During the week, only the US Preliminary GDP on Thursday at 13:30
The EUR/USD passed the resistance of the 1.2140 level and reached for the resistance zone of the 1.2168/1.2188 levels. On Tuesday morning, the rate bounced off the resistance of the 1.2180 level and began a retracement back down. By the middle of the day's European trading hours, the exchange rate was expected to look for support in the 1.2140 mark and
The 1.2140 level stopped the EUR/USD surge on Friday. Moreover, a reversal down to the support of the 1.2100 mark occurred. On Monday, the rate recovered, as the 1.2100 mark had caused a surge. Near term forecasts were based upon whether or not the price manages to pass the 1.2140 mark. Economic Calendar Analysis During the week, only the US Preliminary GDP on
The EUR/USD reached the resistance cluster that surrounded the 1.2100 level. On Friday, this level was passed and the rate quickly reached the 1.2140 mark, which began to provide resistance. In the near term future, the rate was expected to gradually reach the zone of resistance at 1.2168/1.2188. However, it was set to face resistance of round exchange rate levels at
The decline of the EUR/USD passed the support of the 1.2050 mark and the weekly S1 simple pivot point at 1.2045. The movement ended at the 1.2025 level, which is dive pips above the February 8 low level. By the middle of Thursday's European trading hours, the currency exchange rate had recovered. Moreover, it was expected to retrace to the resistance
On Tuesday, the EUR/USD bounced off the resistance of the 1.2170 level. This was followed by a sharp decline, which by the middle of Wednesday's European trading hours had reached the 1.2060 level. Namely, a 110 pip decline had occurred. In the near term future, the rate could look for support in the 1.2050 mark, a weekly S1 simple pivot point
The recovery of the EUR/USD extended its gains on Tuesday, as the currency exchange rate reached the 1.2170 level during the morning hours. In the meantime, the most important developments occurred on the daily candle chart, as the pair broke the resistance of the 2021 channel down pattern and the 55-day simple moving average. Economic Calendar Analysis The week is expected to have
The passing of the 1.2100 level did not result in a decline to the 200-hour SMA, as the EUR/USD found support in 1.2080. On Monday, the pair had recovered to the 1.2140 level. Note that despite there being no resistance to the rate on the hourly candle chart, the pair faces a strong resistance cluster on the daily candle chart. Economic Calendar