The EUR/USD ended sideways trading by declining. However, the decline quickly ended with a sharp fundamental surge. The surge up to the levels just below 1.1110 was caused by better than forecast European Flash Markit PMI data. Namely, French and German Manufacturing and Services Markit PMIs were better than expected. A full report of the event is bound to be published in
By the middle of Wednesday's trading session, the EUR/USD had traded sideways. The rate fluctuated between the support of the 55-hour simple moving average at 1.1092 and the resistance of a monthly pivot point and the 100-hour SMA near 1.1100. In general, a break out was expected to occur. If the rate breaks out to the upside, a weekly pivot point
During Tuesday morning, the EUR/USD currency pair was testing at the psychological level at 1.1080. Given that the pair is pressured by the 55- and 100-hour moving averages, it is likely, that the Euro could depreciated against the US Dollar. Economic calendar This week there will be only one data release notable enough to cause a move on the EUR/USD charts. Namely, the
The EUR/USD currency pair has been consolidating at the psychological level at 1.1100 since last Friday. From a technical perspective, it is likely, that some downside potential could prevail in the market, as the pair is pressured by the 55- and 100-hour SMAs, currently located at 1.1105 and 1.1134. Economic calendar This week there will be only one data release notable enough to
The EUR/USD has traded in the last 24 hours exactly as described in the first scenario on Thursday. Namely, the rate surged to the upper trend line of a descending channel pattern and bounced off it. The event resulted in a sharp decline that was followed by sideways trading consolidation. The consolidation ended on Friday morning and the decline was resumed,
The hourly simple moving averages provided enough technical resistance on Wednesday, to cause a sharp drop down. The decline went as low as 1.1130 before a consolidating retracement back up started. The low point of 1.1130 was used to draw a descending channel pattern, which captures the decline that started on Tuesday. In regards to the near term future, the rate was
The EUR/USD has traded with high volatility during the 24 hours up to the middle of Wednesday's trading session. The high volatility occurred due to the rate starting a break out above the 1.1200 level and another test of the 1.1230, which was sharply reversed by a fundamental announcement. Namely, the US President Donald Trump cancelled the plans to implement new
On Tuesday morning, the EUR/USD traded below the 1.1200 level. Although, the rate had reached to the 1.1230 level during Monday's trading. In regards to the near term future, a squeeze is expected to occur, as the 200-hour simple moving average was approaching from below and is bound to provide support. Economic calendar During this week there are a couple of government macroeconomic
On Monday, the EUR/USD made a sharp drop below the 1.1200 level. The drop was stopped by the 200-hour simple moving average at the 1.1160 level. In general, the rate was expected to reach back up to the 1.1200 level, where technical resistance levels would be tested. Economic calendar During this week there are a couple of government macroeconomic data releases, which might
On Thursday, the EUR/USD failed to pass the resistance of the weekly R2. It was the third failed attempt. The failed attempt was followed by a decline. On Friday, after the decline, the rate was located below the combined resistance of the 55 and 100-hour simple moving averages and the 38.20% Fibonacci retracement level at 1.1200. Economic calendar During this week there
On Thursday, the EUR/USD traded above a 38.20% Fibonacci retracement level, which was keeping the rate up at 1.1200. Moreover, during the morning hours the rate was also being supported by the 55-hour simple moving average. In general, a test of the weekly R2 pivot point at 1.1234 was expected. If this level gets passed, the 1.1280 level could be reached. Latest
The EUR/USD currency exchange rate was heading to the 1.1170 level, where it would meet with two pivot points that will provide support to the pair. Latest Fundamental Event Report The European Common Currency traded sideways against the US Dollar, following the US Non-Manufacturing PMI data release on Monday at 14:00 GMT. The EUR/USD exchange currency rate gained 6 pips or 0.05%
The EUR/USD currency pair reversed south from the resistance level formed by the weekly R1 at 1.1234. Latest Fundamental Event Report The European Common Currency traded sideways against the US Dollar, following the US Non-Manufacturing PMI data release on Monday at 14:00 GMT. The EUR/USD exchange currency rate gained 6 pips or 0.05% right after the release. The Euro continued trading at
The Fed caused decline ended on Thursday at the weekly S2 of the simple pivot points at 1.1029. The reaching of this level was followed by a surge. By the middle of Friday's trading the EUR/USD had reached the resistance of the 100-hour simple moving average at 1.1114. Latest Fundamental Event Report The European Common Currency depreciated against the US Dollar, following the
Despite the Federal Reserve cutting interest rates, the EUR/USD has plummeted down. Namely, the USD gained value instead of the in theory expected decline. From a technical analysis perspective on Thursday the currency exchange rate was bound to test the support of the weekly S2 at 1.1029. US ISM Manufacturing PMI On Thursday, the ISM Manufacturing PMI will be published at 14:00 GMT.
As expected, the EUR/USD surged above the resistance of the weekly pivot point at 1.1153. However, the gains of the rate were limited, as it traded sideways between 1.1150 and 1.1160 in the aftermath of the event. In regards to the near term future, the rate most likely will trade sideways until the publication of the US Federal Reserve Interest Rate.
On Tuesday morning, the EUR/USD was squeezed in between the support of hourly simple moving averages and the resistance of the simple weekly pivot point. In general, the rate was most likely going to trade sideways near 1.1150, between the previously described technical levels, until the Wednesday's Federal Reserve announcements at 18:00 GMT. Latest Fundamental Event Report The European Common Currency depreciated against
Yesterday, the EUR/USD currency pair tried to surpass the 1.1180 level. During Friday morning, the pair was trading at the 1.1140. Given, that the pair is pressured by the 55- and 100-hour SMAs, it is likely, that some downside potential could prevail. Latest Fundamental Event Report The European Common Currency appreciated against the US Dollar, following the ECB Monetary Policy Statement data release
The EUR/USD has reached the targeted level of 1.1124. The rate was expected to trade sideways above this level until the resistance of the hourly moving averages approaches and pushes the pair down. Latest Fundamental Event Report The European Common Currency depreciated against the US Dollar, following the French Flash Services PMI data release on Wednesday at 07:15 GMT. The EUR/USD
The decline of the EUR/USD has continued, as on Wednesday morning the currency exchange rate reached the 1.1130 level. In general, the rate was expected to continue the decline until it reaches the historical low level at 1.1124. Latest Fundamental Event Report The European Common Currency depreciated against the US Dollar, following the French Flash Services PMI data release on Wednesday at
On Tuesday morning, the EUR/USD exchange rate was trading at the weekly S1 located at the 1.1187 mark. Latest Fundamental Event Report The European Common Currency depreciated against the US Dollar, following the US Retail Sales data release on Tuesday at 12:30 GMT. The EUR/USD exchange currency rate lost 13 pips or 0.11% right after the release. The Euro continued trading
The EUR/USD dropped to the 1.1210 level at the end of the previous week. On Monday morning, the currency exchange rate was trading at the monthly S1 located at the 1.1220 mark. Latest Fundamental Event Report The European Common Currency depreciated against the US Dollar, following the US Retail Sales data release on Tuesday at 12:30 GMT. The EUR/USD exchange currency rate lost
The EUR/USD has surged up to the 1.1280 level during Thursday's trading session. The move occurred with high volatility, as immediately afterwards the rate plummeted back down to support levels at 1.1240. On Friday morning, the currency exchange rate was trading near the 1.1260 level. In general, the rate was expected to resume its surge, as it had no technical resistance
The recovery that started after the bounce off from the 1.1200 level continued on Thursday, as the rate reached the 1.1244 level during the morning hours. In general, the rate was expected to test the 100-hour simple moving average at 1.1244 and a monthly pivot point at 1.1250. Latest Fundamental Event Report The European Common Currency depreciated against the US Dollar, following the