DAILY EUR/USD TECHNICAL OUTLOOKLast Update At 07 Oct 2015 23:40GMT
Trend Daily Chart
Sideways
Daily Indicators
Neutral
21 HR EMA
1.1245
55 HR EMA
1.1239
Trend Hourly Chart
Sideways
Hourly Indicators
Falling
13 HR RSI
45
14 HR DMI
-ve
Daily Analysis
Choppy consolidation to continue
Resistance
1.1330 - Sep 21 high
1.1319 - Last Fri's high
1.1289 - Mon's high
Support
1.1212 - Y'day's low (NY)
1.1172 - Y'day's low
1.1150 - Last Fri's low
. EUR/USD - 1.1236... Trading euro was tricky y'day as price swung wildly. Despite rising to 1.1284 in Asia, price fell to 1.1222 after downbeat German data b4 bouncing back to 1.1274 in NY, then down to 1.1212 b4 recovering.
. Looking at the daily chart, although euro's fall fm Aug's 7-month peak at 1.1715 to 1.1087 (Sep low) confirms early medium-term rise fm 2015 12-year bottom at 1.0457 (Mar) has formed a top there, subsequent daily swings inside the 1-month long 1.1087-1.1460 range suggests further volatile trading would continue with downside bias. A daily close below 1.1087 (reaction low fm 1.1715) would confirm decline fm 1.1715 has finally resumed n yield weakness to next daily chart sup/obj at 1.1018, then 1.0938, being 61.8% r of said upmove fm 1.0457-1.1715. Therefore, selling euro on ecovery this week is favoured n only abv 1.1319 would 'prolong' consolidation, risks gain to 1.1330, then 1.1400/10.
. Today, expect intra-day price swings to continue, however, as long as 1.1284/89 res holds, downside bias remains for another fall, below NY low at 1.1212 would encourage for weakness twd 1.1172 (reaction low fm 1.1319), break would yield subsequent weakness to 1.1135/50 area. Only abv 1.1289 risks 1.1319.
_20151008070116.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
EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.