eur   DAILY EUR/USD TECHNICAL OUTLOOK
Last 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.
eur
Share: Feed news

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


Recommended Content

Editors’ Picks

EUR/USD eases below 1.0850 on renewed USD strength

EUR/USD eases below 1.0850 on renewed USD strength

EUR/USD stays under pressure and trades in the red below 1.0850 in the European session. Although the ZEW survey for Germany and the Eurozone showed a noticeable improvement in economic sentiment, broad USD strength doesn't allow the pair to gain traction.

EUR/USD News

GBP/USD drops below 1.2700 on notable US Dollar demand

GBP/USD drops below 1.2700 on notable US Dollar demand

 GBP/USD is extending the downside below 1.2700 in the European trading hours on Tuesday. The ongoing bullish momentum in the US Dollar, despite sluggish US  Treasury bond yields, undermines the pair. Mid-tier US housing data are coming up next. 

GBP/USD News

Gold price struggles to lure buyers, holds steady above one-week low ahead of FOMC meeting

Gold price struggles to lure buyers, holds steady above one-week low ahead of FOMC meeting

Gold price ticks lower amid reduced Fed rate cut bets, elevated US bond yields and stronger USD. Geopolitical tensions could lend some support to the safe-haven XAU/USD and help limit losses.

Gold News

Why is the crypto market crashing?

Why is the crypto market crashing?

The two most important contribution to the ongoing bull market is the meteoric rise in Bitcoin due to the ETF approval and the sudden interest spike in Solana ecosystem. But the recent move suggests that the upward momentum is dissipating and a correction looms. 

Read more

Canada CPI Preview: Inflation pickup could scale back bets on early interest-rate cut

Canada CPI Preview: Inflation pickup could scale back bets on early interest-rate cut

The Canadian Consumer Price Index is expected to have risen by 3.1% YoY in February. The BoC shows no rush to lower its interest rate. The Canadian Dollar maintains its multi-day lows against the US Dollar around 1.3540.

Read more

Majors

Cryptocurrencies

Signatures