DAILY EUR/USD TECHNICAL OUTLOOKLast Update At 04 Nov 2015 00:01GMT
Trend Daily Chart
Down
Daily Indicators
Fallng
21 HR EMA
1.0975
55 HR EMA
1.0993
Trend Hourly Chart
Near term down
Hourly Indicators
Rising fm o/s
13 HR RSI
40
14 HR DMI
-ve
Daily Analysis
Consolidation with downside bias
Resistance
1.1073 - Last Fri's high
1.1030 - Y'days high
1.0987 - Reaction low fm 1.1073 (now res)
Support
1.0925 - Last Thur's NY low
1.0896 - Last Wed's low
1.0867 - 100% proj. of 1.1715-1.1087 fm 1.1495
. EUR/USD - 1.0962... Euro met renewed selling at 1.1030 at European open Tue as euro bears sold the pair actively on falling EZ bond yields. Euro easily penetrated 1.0987 sup to as low as 1.0936 in NY morning b4 recovering.
. On the bigger picture, despite Wed's selloff below Mon's 1.0989 low to a fresh 2-1/2 month trough of 1.0896, subsequent short-covering rally to 1.1073 on Fri signals early decline fm Aug's 1.1715 high has made a temporary low n a few days of choppy consolidation is in store b4 said decline resumes to previously indicated downside target at 1.0808 (Jul's low), a break there would pressure euro twd 1.0719 in latter part of Nov, being 1.236 extension of aforesaid fall fm 1.1715-1.1087 measured fm 1.1495, current falling daily technical indicators lend credence to this bearish view. Only abv 1.1073 (reaction high) defers present bearish view n may isk stronger etracement to 1.1130/40 b4 down.
. Today, as price is currently trading below the 21-hr n 55-hr emas, suggesting intra-day downside bias remains for further weakness, however, below 1.0896 needed to extend MT downtrend twd 1.0867. On the upside, abv 1.1000 would signal low is made n risk stronger gain to 1.1030 but 1.1073 res should hold.
_20151104072853.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
AUD/USD eases toward 0.6500 after mixed Australian trade data
AUD/USD is seeing some fresh selling interest in the Asian session on Thursday, following the release of mixed Australian trade data. The pair has stalled its recovery mode, as the US Dollar attempts a bounce after the Fed-led sell-off.
USD/JPY holds rebound near 156.00 after probable Japan's intervention-led crash
USD/JPY consolidates the rebound near 156.00, having lost nearly 450 pips in some minutes after the Japanese Yen rallied hard on another suspected Japan FX market intervention in the late American session on Wednesday.
Gold price stalls rebound below $2,330 as US Dollar recovers
Gold price is holding the rebound below $2,330 in Asian trading on Thursday, as the US Dollar recovers in sync with the USD/JPY pair and the US Treasury bond yields, in the aftermath of the Fed decision and the likely Japanese FX intervention.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
The FOMC whipsaw and more Yen intervention in focus
Market participants clung to every word uttered by Chair Powell as risk assets whipped around in a frenetic fashion during the afternoon US trading session.