The break out of the rising wedge on Wednesday quickly reached the 1.0860 mark, where it found support. In the meantime, the rate traded with high volatility, as it retraced back to 1.0940 before resuming its decline. On Thursday, the rate traded in limbo around the 1.0880 level. Economic Calendar Analysis On Thursday, all attention is expected to be set on
By the middle of Wednesday's GMT trading hours, the EUR/USD currency exchange rate broke out of the ascending wedge pattern to the downside. It occurred in a sharp 30 pip move. In regards to the near term future, the rate was expected to continue its decline until it would reach a technical support cluster at 1.0888. Economic Calendar Analysis Due to the
On Tuesday, the EUR/USD currency exchange rate signalled that it could surge up to the 1.0980 level. Meanwhile, the rate had continued to trade in a rising wedge pattern, which can be observed on the hourly candle chart. Economic Calendar Analysis Due to the fundamental changes in the markets, Dukascopy Analytics suggests to note the scheduled macroeconomic events, but avoid using historical
On Thursday, the EUR/USD passed the support of the 55-hour simple moving average, which began to provide resistance at 1.0868. In the meantime, the pair still found support in the 100-hour SMA at 1.0840. In the meantime, next week's economic calendar events have been analysed, and some events are expected to cause notable volatility. Economic Calendar Analysis Due to the fundamental changes
Despite piercing the 1.0900 level, the EUR/USD pair did not reach for the 200-hour SMA. Instead, the rate bounced off the 1.0930 mark and began a decline. By the middle of Wednesday's GMT trading hours, the currency exchange rate had reached the support of the 55 and 100-hour simple moving averages near 1.0850. Economic Calendar Analysis As it occurred during the
The EUR/USD did not decline, as forecast. Instead of declining, the currency exchange rate surged on Tuesday. By the middle of the day's GMT trading hours, the rate had broken the resistance of the 55 and 100-hour simple moving averages. Moreover, the pair broke the upper trend line of the channel down pattern, which captures the rates decline since
The EUR/USD started the week by trading sideways near the 1.0800 level. However, the consolidation was about to end, as the rate was approached by the resistance of the 55-hour simple moving average near 1.0840. In theory, the SMA should push the rate down. In the case of a decline, the pair could look for support in the 1.07500 mark. US
On Friday morning, the EUR/USD passed below technical support levels near 1.0800. The pair was expected to continue to decline, as it had no other technical support. Meanwhile, it appears that despite massive bad US data is being released, the US Dollar is not losing value. US Unemployment Claims The Euro depreciated against the US Dollar, following the US Unemployment Claims data
Previously, on Wednesday, the US reached the support of the 200-hour simple moving average above the 1.0900 mark. On Thursday, the EUR/USD was being pushed up by the 200-hour SMA and was about to face the resistance of the 55-hour SMA and the weekly simple pivot point at 1.0977. Economic Calendar Analysis This week, data can be ignored, as the fundamental
On Tuesday, the EUR/USD did not drop to the 200-hour SMA. Instead, it found support in the round level of 1.0950. Afterwards, the pair surged up to the resistance of the 55 and 100-hour simple moving averages. On Wednesday morning, the pair had bounced off the SMAs and was heading down to once again test the support of the 1.0950
The EUR/USD has continued its decline, as by the middle of Tuesday's GMT trading hours, the currency exchange rate had declined below two SMAs and two pivot points. In regards to the near term future, the rate had no technical support as low as the 1.0877 level. Economic Calendar Analysis This week, data can be ignored, as the fundamental background created by
On Monday, the EUR/USD was declining in the aftermath of testing the 1.1150 level. By the middle of the day's GMT trading hours, the rate was set to reach the support of the 1.1050 mark. Meanwhile, the 55-hour simple moving average was approaching the 1.1050 mark. Last week, the SMA caused a surge of the rate to the 1.1150 level. Economic
As laid out in the main forecast on Thursday, on Friday the EUR/USD reached the targeted 1.1080 level. At that level the pair met with the resistance of a pivot point, which caused a decline. By the middle of Friday's GMT trading hours, the rate had stopped above the 1.1000 level's support. US Weekly Unemployment claims On Thursday, the weekly US unemployment
On Thursday, the EUR/USD was heading to the 1.1000 level. The surge was mainly attributed to a decline of the US Dollar that was caused by the US government announcing $2 trillion stimulus measures. Namely, the US government announced that it is set to borrow money from the public and mainly the Federal Reserve via bonds. The Fed is likely
During the 24 hours up to the writing of this article, the EUR/USD had failed at attempts to surge. The pair retreated until it found support in the 55-hour simple moving average. The 55-hour SMA had been pushing the rate higher since the second part of Tuesday's GMT trading hours. In the near term future, the SMA was expected to
By the middle of Tuesday's GMT trading hours, the EUR/USD currency exchange rate's recovery was approaching the 1.0900 level. In general, the rate was expected to continue to surge as high as the 1.0950 level. Above this level the pair would meet with two technical resistance levels. Economic Calendar Analysis This week, there will be couple of events that could impact the
The EUR/USD currency pair remains to trade above the support level – the monthly S2 at 1.0650. During Monday morning, the pair was under pressure of the 55-hour SMA. If the given support does not hold, some downside potential could prevail in the market. Economic Calendar Analysis This week, there will be couple of events that could impact the
On Friday morning, the EUR/USD currency pair re-tested the monthly S1 at 1.0840. It is unlikely that some upside potential could prevail in the market due to the resistance provided by the 55-hour SMA. Economic Calendar Analysis This week, there are no events left that could impact the EUR/USD pair. Next week, there will be couple of events that could
On Thursday morning, the EUR/USD currency pair declined to the weekly S2 at 1.0776. If the given support level holds, it is likely that the pair could reverse north. Otherwise, bears could prevail in the market. Economic Calendar Analysis This week, there are no events left that could impact the EUR/USD pair. Meanwhile, Dukascopy Analytics are not publishing the
On Wednesday morning, the EUR/USD currency pair was testing the support level formed by the monthly PP at 1.0968. Given that the pair remains to be under pressure of the 55- and 100-hour SMAs, it is likely that some downside potential could prevail. Economic Calendar Analysis This week there are no events left that could impact the EUR/USD pair. Meanwhile, Dukascopy Analytics
On Tuesday morning, the EUR/USD currency pair declined to the lower boundary of the short-term descending channel. If the given trend holds, it is likely that a reversal north could occur. Economic Calendar Analysis Today, the US Retail Sales could cause a small move in the markets at 14:30 GMT. On Wednesday, the event of the week is set to occur, as
On Monday, the EUR/USD currency exchange rate recovered, as it had previously found support in the 1.1050 level. By the middle of Monday's GMT trading hours, the pair had bounced off the resistance of two hourly simple moving averages and was heading lower. Economic Calendar Analysis On Tuesday, the US Retail Sales could cause a small move in the markets at 14:30
Since the second part of Thursday's GMT trading hours, the EUR/USD has traded sideways between the 1.1150 and 1.1200 levels. Previously, the rate almost reached the 1.1050 level, which was a new recent low level. Economic Calendar Analysis Next week, on Tuesday, the US Retail Sales could cause a small move in the markets at 14:30 GMT. On Wednesday, the event of the
The resistance of the 55-hour simple moving average managed to cause a decline of the EUR/USD currency exchange rate. By the middle of Thursday's GMT trading hours, the pair had passed various support levels. In the near term future, the rate was about to reach the 1.1200 level. Economic Calendar Analysis On Thursday, March 12, the European Central Bank will make its