DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 15 May 2019 00:20GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning up
21 HR EMA
1.1215
55 HR EMA
1.1233
Trend Hourly Chart
Near term down
Hourly Indicators
Getting o/s
13 HR RSI
33
14 HR DMI
-v3
Daily Analysis
Consolidation with downside bias
Resistance
1.1304 - Apr 18 high
1.1265 - Mon's n May 01 high
1.1246 - Y'day's high (Reuters)
Support
1.1167 - Last Tue's low
1.1135 - May's low (May 03)
1.1112 - Apr 26 low
. EUR/USD - 1.1203.. Although euro recovered fm 1.1221 (AUS) to session highs of 1.1246 (Reuters) in Europe, price erased its gains n tumbled to 1.1204 1.1204 at NY open, then 1.1201 on usd's strength n Italy's budget concerns.
. On the bigger picture, despite euro's resumption of LT rise fm 2017 near 14-year bottom of 1.0341 to a fresh 3-year peak of 1.2555 in mid-Feb, subsequent selloff to 1.1216 in Nov 2018, then to a 20-month bottom at 1.1177 in early March confirms said major uptrend has made a top there. Despite subsequent rally to 1.1448 in Mar, euro's fall to 1.1184, then early break of 1.1177 to 1.1112 Apr confirms MT fall fm 1.2555 has resumed n would head to 1.1054 (61.8% proj. of 1.1815-1.1177 measured fm 1.1448), 'bullish convergences' on daily indicators would keep price abv psychological 1.1000 level. On the upside, only abv 1.1265 signals temporary low is made n risks retracement to 1.1325, then 1.1448.
. Today, although euro's selloff after Mon's failure to break May's 1.1265 top signals near term rise fm 1.1135 has made a temp. top there n downside bias remains, as hourly oscillators would be in o/sold territory, reckon 1.1161/67 sup area would hold. Only abv 1.1265 extends early rise fm 1.1112 to 1.1190/00.
-636935036603374091.png)
Interested in EURUSD technicals? Check out the key levels
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 stands firm above 0.6500 with markets bracing for Aussie PPI, US inflation
The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday. The AUD/USD advance was sponsored by a United States report showing the economy is growing below estimates while inflation picked up. The pair traded at 0.6518.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold soars as US economic woes and inflation fears grip investors
Gold prices advanced modestly during Thursday’s North American session, gaining more than 0.5% following the release of crucial economic data from the United States. GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the US Fed could lower borrowing costs.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: Slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.