DAILY EUR/USD TECHNICAL OUTLOOKLast Update At 04 Nov 2015 00:01GMT
Trend Daily Chart
Down
Daily Indicators
Fallng
21 HR EMA
1.0975
55 HR EMA
1.0993
Trend Hourly Chart
Near term down
Hourly Indicators
Rising fm o/s
13 HR RSI
40
14 HR DMI
-ve
Daily Analysis
Consolidation with downside bias
Resistance
1.1073 - Last Fri's high
1.1030 - Y'days high
1.0987 - Reaction low fm 1.1073 (now res)
Support
1.0925 - Last Thur's NY low
1.0896 - Last Wed's low
1.0867 - 100% proj. of 1.1715-1.1087 fm 1.1495
. EUR/USD - 1.0962... Euro met renewed selling at 1.1030 at European open Tue as euro bears sold the pair actively on falling EZ bond yields. Euro easily penetrated 1.0987 sup to as low as 1.0936 in NY morning b4 recovering.
. On the bigger picture, despite Wed's selloff below Mon's 1.0989 low to a fresh 2-1/2 month trough of 1.0896, subsequent short-covering rally to 1.1073 on Fri signals early decline fm Aug's 1.1715 high has made a temporary low n a few days of choppy consolidation is in store b4 said decline resumes to previously indicated downside target at 1.0808 (Jul's low), a break there would pressure euro twd 1.0719 in latter part of Nov, being 1.236 extension of aforesaid fall fm 1.1715-1.1087 measured fm 1.1495, current falling daily technical indicators lend credence to this bearish view. Only abv 1.1073 (reaction high) defers present bearish view n may isk stronger etracement to 1.1130/40 b4 down.
. Today, as price is currently trading below the 21-hr n 55-hr emas, suggesting intra-day downside bias remains for further weakness, however, below 1.0896 needed to extend MT downtrend twd 1.0867. On the upside, abv 1.1000 would signal low is made n risk stronger gain to 1.1030 but 1.1073 res should hold.
_20151104072853.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 tumbles toward 0.6350 as Middle East war fears mount
AUD/USD has come under intense selling pressure and slides toward 0.6350, as risk-aversion intensifies following the news that Israel retaliated with missile strikes on a site in Iran. Fears of the Israel-Iran strife translating into a wider regional conflict are weighing on the higher-yielding Aussie Dollar.
USD/JPY breaches 154.00 as sell-off intensifies on Israel-Iran escalation
USD/JPY is trading below 154.00 after falling hard on confirmation of reports of an Israeli missile strike on Iran, implying that an open conflict is underway and could only spread into a wider Middle East war. Safe-haven Japanese Yen jumped, helped by BoJ Governor Ueda's comments.
Gold price jumps above $2,400 as MidEast escalation sparks flight to safety
Gold price has caught a fresh bid wave, jumping beyond $2,400 after Israel's retaliatory strikes on Iran sparked a global flight to safety mode and rushed flows into the ultimate safe-haven Gold. Risk assets are taking a big hit, as risk-aversion creeps into Asian trading on Friday.
WTI surges to $85.00 amid Israel-Iran tensions
Western Texas Intermediate, the US crude oil benchmark, is trading around $85.00 on Friday. The black gold gains traction on the day amid the escalating tension between Israel and Iran after a US official confirmed that Israeli missiles had hit a site in Iran.
Dogwifhat price pumps 5% ahead of possible Coinbase effect
Dogwifhat price recorded an uptick on Thursday, going as far as to outperform its peers in the meme coins space. Second only to Bonk Inu, WIF token’s show of strength was not just influenced by Bitcoin price reclaiming above $63,000.