DAILY EUR/USD TECHNICAL OUTLOOKLast Update At 11 Feb 2016 00:23GMT
Trend Daily Chart
Up
Daily Indicators
Rising
21 HR EMA
1.1267
55 HR EMA
1.1245
Trend Hourly Chart
Up
Hourly Indicators
Neutral
13 HR RSI
56
14 HR DMI
-ve
Daily Analysis
Consolidation b4 one more rise
Resistance
1.1387 - 2015 Oct 20 high
1.1338 - Tue's fresh 3-1/2 month high
1.1312 - Y'day's high
Support
1.1250 - Last Fri's high (now sup)
1.1214 - 61.8% r of 1.1161-1.1299
1.1161 - Y'day's low
. EUR/USD - 1.1284.. Euro went through a roller-coaster ride in Wed's ses sion. Pirce ratcheted lower fm 1.1312 to 1.1222 in NY morning, despite tanking to 1.111 after release of Fed Yellen's text, price rallied to 1.1299 later.
. Looking at the daily chart, last Wed's biggest usd's one-day drop in 7 years helped euro to stage an impressive rally abv 2015 Dec's peak at 1.1060 to as high as 1.1145, then to 1.1338 Mon confirms MT uptrend fm Dec's 7-1/2 month bottom at 1.0523 has finally resumed after a 1-1/2 month long volatile sideways swings n price is en route to next chart obj. 1.1387 (2015 Oct 20 high), a daily close abv this level would bode well for euro to yield further headway to 1.1495 later this month. Having said, y'day's break of 1.1260 to 1.1161 suggests temp. top is made n consolidation is seen, as long 1.1161 sup holds, bullishnes remains n only a daily close below said sup risks correction twd 1.1086.
. Today, euro's intra-day rally fm 1.1161 to 1.1299 suggests pullback fm 1.1338 has ended n consolidation with upside bias is seen, abv said res would extend marginal gain, 'bearish divergences' on hourly indicators should cap price below res at 1.1387. Only below 1.1200 risks re-test of 1.1161, 1.1110/20.
_20160211063049.png "eur")
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
AUD/USD risks a deeper drop in the short term
AUD/USD rapidly left behind Wednesday’s decent advance and resumed its downward trend on the back of the intense buying pressure in the greenback, while mixed results from the domestic labour market report failed to lend support to AUD.
EUR/USD leaves the door open to a decline to 1.0600
A decent comeback in the Greenback lured sellers back into the market, motivating EUR/USD to give away the earlier advance to weekly tops around 1.0690 and shift its attention to a potential revisit of the 1.0600 neighbourhood instead.
Gold is closely monitoring geopolitics
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Bitcoin price shows strength as IMF attests to spread and intensity of BTC transactions ahead of halving
Bitcoin (BTC) price is borderline strong and weak with the brunt of the weakness being felt by altcoins. Regarding strength, it continues to close above the $60,000 threshold for seven weeks in a row.
Is the Biden administration trying to destroy the Dollar?
Confidence in Western financial markets has already been shaken enough by the 20% devaluation of the dollar over the last few years. But now the European Commission wants to hand Ukraine $300 billion seized from Russia.