DAILY EUR/USD TECHNICAL OUTLOOKLast Update At 10 Jul 2014 00:00GMT
Trend Daily Chart
Down
Daily Indicators
Turning up
21 HR EMA
1.3628
55 HR EMA
1.3617
Trend Hourly Chart
Sideways
Hourly Indicators
Rising
13 HR RSI
64
14 HR DMI
+ve
Daily Analysis
Marginal gain b4 retreat
Resistance
1.3700 - Last Tue's high
1.3664 - Last Fri's high
1.3648 - Y'day's high
Support
1.3602 - Y'day's low
1.3576 - Mon's low
1.3537 - Jun 17 low
. EUR/USD - 1.3643... Despite euro's retreat fm 1.3630 to 1.3602 in Europe
on Wed, renewed cross-buying vs stg n yen lifted price n euro climbed to 1.3643
in NY morning. Later, the single currency dropped briefly to 1.3611 after the
release of FOMC minutes b4 rising to session high of 1.3648.
. Looking at the hourly n daily charts, y'day's rebound after holding abv
Mon's 2-week trough at 1.3576 indicates fall fm last Tue's high of 1.3700 has
made a low there n stronger gain twd 1.3653, this is the 'dynamic' 61.8% r of
1.3700-1.3576, cannot be ruled out, however, as stated previously, euro's sharp
retreat fm aforesaid 5-week peak at 1.3700 to 1.3576 strongly suggests the cor-
rection fm Jun's near 4-month trough at 1.3503 has ended, bias to euro remains
to the downside, reckon 1.3564 (last Thur's high) wud cap upside n yield another
fall later. Looking ahead, a daily close below 1.3576 wud confirm this bearish
view, then re-test of said Jun's near 4-month low shud follow next week.
. In view of abv analysis, we're buyomg euro on dips for one more rise or
wud sell on intra-day upmove. On the downside, below 1.3576 wud extend aforesaid
decline twd 1.3537/42.
Recommended Content
Editors’ Picks
EUR/USD fluctuates near 1.0700 after US data
EUR/USD stays in a consolidation phase at around 1.0700 in the American session on Wednesday. The data from the US showed a strong increase in Durable Goods Orders, supporting the USD and making it difficult for the pair to gain traction.
USD/JPY refreshes 34-year high, attacks 155.00 as intervention risks loom
USD/JPY is renewing a multi-decade high, closing in on 155.00. Traders turn cautious on heightened risks of Japan's FX intervention. Broad US Dollar rebound aids the upside in the major. US Durable Goods data are next on tap.
Gold keeps consolidating ahead of US first-tier figures
Gold finds it difficult to stage a rebound midweek following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% after US data, not allowing the pair to turn north.
Worldcoin looks set for comeback despite Nvidia’s 22% crash Premium
Worldcoin price is in a better position than last week's and shows signs of a potential comeback. This development occurs amid the sharp decline in the valuation of the popular GPU manufacturer Nvidia.
Three fundamentals for the week: US GDP, BoJ and the Fed's favorite inflation gauge stand out Premium
While it is hard to predict when geopolitical news erupts, the level of tension is lower – allowing for key data to have its say. This week's US figures are set to shape the Federal Reserve's decision next week – and the Bank of Japan may struggle to halt the Yen's deterioration.