|Day's Range||1.135 - 1.139|
|52 Week Range||1.1223 - 1.2558|
The eurozone economy doesn’t appear to be snapping back from its second-half slowdown. Investors wonder whether European Central Bank President Mario Draghi will declare that risks to the eurozone economy have shifted to the downside.
Investing.com - The U.S. dollar pushed higher against a basket of its rivals on Thursday but gains were held in check amid concerns over global growth, the U.S. government shutdown and the ongoing U.S.-China trade war.
Employment numbers give the Aussie Dollar an early jump on the majors, with economic data and the ECB bringing the EUR into focus.
The U.S. dollar remained under pressure during Wednesday’s session, even as the appetite for risk that had defined morning trading across assets turned sour.
The Euro pulled back slightly to kick off the session on Wednesday I believe that the market will eventually grind its way higher.
BRUSSELS (Reuters) - Euro zone consumer confidence rose in January from a sharply revised December number, figures released on Wednesday showed. The European Commission said a flash estimate showed euro ...
Investing.com – The U.S. dollar was under pressure Wednesday against a basket of major currencies following a sharp rise in the pound on fading worries the U.K. will leave the European Union without a trade deal.
Based on the early trade and the current price at .7136, the direction of the AUD/USD the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at .7153 and the main Fibonacci level at .7156.
Based on the early price action and the current price at 1.1363, the direction of the EUR/USD on Wednesday will be determined by trader reaction to the uptrending Gann angle at 1.1344. This angle was tested successfully on Tuesday.
The Euro has stabilized just above the 1.1350 level and is testing a short uptrend line. If it manages to break above the 50 Day EMA, which is offering a stiff resistance, then it can reach much higher towards the 1.15 level. The 1.27 level underneath is a strong support point for the pair and is unlikely to be broken unless there is a drastic change in fundamentals.
U.S existing home sale slid by 6.8% in December. While application numbers point to a rebound, beyond January may be another story…
Having recovered from multi-week lows during the overnight trading session, the pair is expected to continue range-bound price action ahead of tomorrow’s ECB MPC update.
Investing.com - The U.S. dollar was holding steady against a basket of its rivals on Wednesday and the yen was broadly lower as risk sentiment improved, but concerns over slowing global growth and U.S.-China trade tensions looked likely to keep gains in riskier assets in check.
While the U.S. dollar remains muted and the haven Japanese yen gains on the back global growth and trade worries, the Brexit-ridden British pound climbs to lead currency gainers on Tuesday.
The Euro dropped a bit during the trading session on Tuesday as the Americans came back to work. That being the case, the market is testing and uptrend line, and it looks likely that we could see a little bit of support in this area as we have been forming a “rounded bottom” as of late.
Investing.com – The U.S dollar trickled lowered against its rivals Tuesday as data showed U.S. existing home sales in December fell to their lowest level in more three years.
Ever since the EURUSD declined from 1.1570, it’s moves can be depicted by a short-term descending trend-line, which in-turn presently drags the quote towards 1.1325 support-line. Should prices refrain to respect the 1.1325 rest-point, the 1.1300 and the 1.1265-60 may lure the sellers ahead of pushing them to aim for recent low around 1.1215. If at all the pair manage to cross the 1.1370 TL barrier, the 1.1420 and the 1.1450 could entertain counter-trend traders prior to challenging them with 1.1490-1.1500 resistance-zone. Though, pair’s successful break of 1. ...
The Euro is continuing to lose momentum against the USD and in Monday’s session, it pulled back after rallying a bit to test the 1.1350 level underneath. There are several support points underneath and break below 1.13 level would invite more trouble. The market will continue to be difficult and until unless the pair breaks above the 1.15 level and the 200 Day EMA, it will continue to chop around. …Read MoreGBP/USD
The pair is expected to continue bearish price action in near future as macro data indicate that economic activity in European markets have slowdown significantly and traders in the broad market are expecting further bearish news to follow which could induce further bearish price action.
It’s risk off early in the day, growth forecast revisions by the IMF and central banks coming amidst softer GDP numbers.
Investing.com - The dollar was trading near two-week highs against a basket of its rivals on Tuesday as concerns over the outlook for the global economy underpinned investor demand for safe haven assets.
Based on the earlier price action, the direction of the EUR/USD into the close is likely to be determined by trader reaction to the uptrending Gann angle at 1.1369.
The Euro rallied a bit during the trading session on Monday, and then gave up all of those gains to reach towards the 1.1350 level. This is a negative turn of events, but we are still in the “rounded bottom” that I had pointed out previously, it’s a bit early to start shorting. Beyond that, I see several points of support underneath.
If the market breaks below the 1.1350 level, then it could break down towards the 1.12 level. The AUD witnessed a massive resistance as it tried to break higher but has pulled back from there. It has been a bit bullish in the market and if the market breaks above the 110 level, then the market could witness a lot of upside pressure.