DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 30 Mar 2017 00:03GMT
Trend Daily Chart
Sideway
Daily Indicators
Rising
21 HR EMA
1.775
55 HR EMA
1.08022
Trend Hourly Chart
Near term down
Hourly Indicators
Turning up
13 HR RSI
36
14 HR DMI
-ve
Daily Analysis
Consolidation with downside bias
Resistance
1.0873 - Tue's high
1.0827 - Y'day's high
1.0799 - Tue's low (now res)
Support
1.0741 - Y'day's low
1.0720 - Last week's low (Mon)
1.0652 - 61.8% r of 1.0494-1.0907
-
EUR/USD - 1.0757.. Euro remained under pressure in Asia y'day following Tue's selloff to 1.0799, price met renewed selling at 1.0827 in Asia n weakened to 1.0778 in Europe, then 1.0741 at NY open b4 staging a recovery.
-
On the bigger picture, euro's MT upmove fm Jan's near 14-year bottom of 1.0341 to 1.0829 in Feb signals recent downtrend has formed a low there. Des- pite subsequent fall to 1.0494 in Feb, Mon's rally abv 1.0829 to a 4-month peak of 1.0907 confirms said rise fm 1.0341 has once again resumed n would head to 1.0979/82, being 50% r of MT fall fm 1.1617-1.0341 n 100% proj. of 1.0341-1.0829 measured fm 1.0494 respectively in Apr, however, reckon 1.1097 (1.26 extension of 1.0341-1.0829 fm 1.0494) should hold. Having said that, this week's decline to 1.07$$ y'day signals top has been made n downside bias remains for stronger retracement, below 1.0720 would extend weakness twd 1.0624 (50% r) next week.
-
Today, despite staging a minor recovery in NY session to 1.0773, as long as 1.0799 (Tue's low, now res) holds, this week's decline should head to 1.0691/ 99, however, as hourly indicators would display 'bullish convergences' on next fall, reckon 1.0670/75 should hold. Only abv 1.0799 risks 1.0822/27.
-636264566487707737.png)
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 clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Geopolitics once again take centre stage, as UK Retail Sales wither
Nearly a week to the day when Iran sent drones and missiles into Israel, Israel has retaliated and sent a missile into Iran. The initial reports caused a large uptick in the oil price.