DAILY EUR/USD TECHNICAL OUTLOOKLast Update At 11 Feb 2016 00:23GMT
Trend Daily Chart
Up
Daily Indicators
Rising
21 HR EMA
1.1267
55 HR EMA
1.1245
Trend Hourly Chart
Up
Hourly Indicators
Neutral
13 HR RSI
56
14 HR DMI
-ve
Daily Analysis
Consolidation b4 one more rise
Resistance
1.1387 - 2015 Oct 20 high
1.1338 - Tue's fresh 3-1/2 month high
1.1312 - Y'day's high
Support
1.1250 - Last Fri's high (now sup)
1.1214 - 61.8% r of 1.1161-1.1299
1.1161 - Y'day's low
. EUR/USD - 1.1284.. Euro went through a roller-coaster ride in Wed's ses sion. Pirce ratcheted lower fm 1.1312 to 1.1222 in NY morning, despite tanking to 1.111 after release of Fed Yellen's text, price rallied to 1.1299 later.
. Looking at the daily chart, last Wed's biggest usd's one-day drop in 7 years helped euro to stage an impressive rally abv 2015 Dec's peak at 1.1060 to as high as 1.1145, then to 1.1338 Mon confirms MT uptrend fm Dec's 7-1/2 month bottom at 1.0523 has finally resumed after a 1-1/2 month long volatile sideways swings n price is en route to next chart obj. 1.1387 (2015 Oct 20 high), a daily close abv this level would bode well for euro to yield further headway to 1.1495 later this month. Having said, y'day's break of 1.1260 to 1.1161 suggests temp. top is made n consolidation is seen, as long 1.1161 sup holds, bullishnes remains n only a daily close below said sup risks correction twd 1.1086.
. Today, euro's intra-day rally fm 1.1161 to 1.1299 suggests pullback fm 1.1338 has ended n consolidation with upside bias is seen, abv said res would extend marginal gain, 'bearish divergences' on hourly indicators should cap price below res at 1.1387. Only below 1.1200 risks re-test of 1.1161, 1.1110/20.
_20160211063049.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
EUR/USD retreats below 1.0700 as USD rebounds
EUR/USD lost its traction and retreated slightly below 1.0700 in the American session, erasing its daily gains in the process. Following a bearish opening, the US Dollar holds its ground and limits the pair's upside ahead of the Fed policy meeting later this week.
USD/JPY recovers toward 157.00 following suspected intervention
USD/JPY recovers ground and trades above 156.50 after sliding to 154.50 on what seemed like a Japanese FX intervention. Later this week, the Federal Reserve's policy decisions and US employment data could trigger the next big action.
Gold holds steady above $2,330 to start the week
Gold fluctuates in a relatively tight channel above $2,330 on Monday. The benchmark 10-year US Treasury bond yield corrects lower and helps XAU/USD limit its losses ahead of this week's key Fed policy meeting.
Week Ahead: Bitcoin could surprise investors this week Premium
Two main macroeconomic events this week could attempt to sway the crypto markets. Bitcoin (BTC), which showed strength last week, has slipped into a short-term consolidation.
Five Fundamentals for the week: Fed fears, Nonfarm Payrolls, Middle East promise an explosive week Premium
Higher inflation is set to push Fed Chair Powell and his colleagues to a hawkish decision. Nonfarm Payrolls are set to rock markets, but the ISM Services PMI released immediately afterward could steal the show.