Eur/usd - page 343
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The single currency recorded a second consecutive negative session against the dollar on Friday, depreciating by nearly 30 pips to 1.1353. The daily extremes were reached respectively at 1.1394 and 1.1334. For the week the currency pair remained without significant change, after failing to overcome the psychological barrier at 1.1500. For the moment, the pair continues to trade above the upward moving averages, but the relative strength index suggests weakness of the bulls. A break of 1.1350 will likely test 1.1315.
On Friday session the EURUSD fell with a narrow range and close in the red near the low of the day but still above the 10-day moving average.
Last week the European Central Bank (ECB) released comments suggesting that more stimulus was needed to support the weakening Eurozone economy, not a good sign for the EURO.
The key levels to watch are 1.1460 (Resistance), the 10-day moving average at 1.1366 (support), the 50-day moving average at 1.1272 (support) and 1.1237 (support).
August 2015 Eurozone construction output -0.2% vs 1.0% prior m/m Eurozone construction output data report for August 2015
Civil engineering (-0.3%) and building construction (-0.2%) take the headline figure south for the 19 states, and they fell -1.9% and -1.1% respectively for the 28 states
These numbers are volatile at the best of times but even so this is a steep drop
Another drop on the EUR/USD now price is between support 1.1300 and resistance 1.1350, if price close under support level I will go short.
Another drop on the EUR/USD now price is between support 1.1300 and resistance 1.1350, if price close under support level I will go short.
Good idea, i think i will do the same, let us see today.
Euro slides to 2-month low as Draghi hints at stimulus The euro skidded to two-month lows against the dollar on Friday, a day after the European Central Bank hinted at more stimulus in December, tipping the common currency into one of its biggest falls in recent years.
The euro fell to as low as $1.1072 at one point in Asian trade, breaking below the $1.11 mark, which has been a major support for the currency in the last several weeks. It last traded at $1.1104.
ECB President Mario Draghi said on Thursday that the bank was studying new stimulus measures that could be unveiled as soon as December and was prepared to cut its deposit rate deeper into negative territory, effectively increasing the fees the ECB charges to take deposits of excess reserves.
"Markets were expecting Draghi might suggest an extension of its quantitative easing but he went so far as discussing cutting the deposit facility rate," said a derivative trader at a Japanese brokerage.
"He came up with everything he can offer. It was like a pizza with the works."
The shock was enough to send the euro down 2.0 percent overnight, its second largest fall since 2011, eclipsed only by the drop on January 22 this year when the ECB announced its current bond buying scheme. Trading volume on Thursday was also the biggest in a year.
Yesterday the EURUSD plunged 233 pips after the ECB Monetary policy statement and press conference. The pair made with a wide range day and closes in the red near the low of the day a few pips away of the 200-day moving average.
After yesterday strong downward move, today we may expect a small pullback.
The key levels to watch are 1.1237 (Resistance), the 200-day moving average at 1.1075 (support) and 1.0900 (support).
EUR/USD is testing 2 months low support level 1.100 next level will be 1.0800