Eur/usd - page 354
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EUR/USD is testing again 1.0700 price failed to break the support level for the past week.
EUR/USD is testing again 1.0700 price failed to break the support level for the past week.
Looks like this was a final break
Weak, weak euro.
The single currency continued to lose against the US Dollar on Monday. The euro lost 54 pips at a closing price of 1.0685. The graphics continue to develop under the moving average, while the index of relative strength remained in neutral territory. EUR/ USD keep the downward trend, and for its continuation is needed to break the support at 1.0676.
Investors in Germany More Optimistic in Nov: ZEW Economic Sentiment Investor sentiment in Germany rose in November, the latest data from the ZEW Institute showed on Tuesday.
The ZEW Economic Sentiment Index, evaluating the economic outlook of about 350 respondents for the next six months, climbed to 10.4 points in the eleventh month of the year, beating analysts expectations of a rise to 6.0.
Last month's reading of 1.9 points was the worst reading since October 2014.
Furthermore, the Current Situation Index came in at 54.4 in November, declining slightly from October's 55.2. Analyst had expected an unchanged reading.
German outlook
The economic situation in Germany is not so rosy at present and it is showing signs of strain. The inflation rate in Germany slightly accelerated in October, but remained deeply below the desired levels, Destatis confirmed in its last week's final reading, keeping pressure on the European Central Bank (ECB) to prevent the euro area from slipping into a dangerous cycle of falling prices.
Germany's CPI showed 0.3% year-on-year growth in November, after a flat reading in the previous month. On a monthly basis, prices halted their fall. The national CPI measure was breakeven during the tenth month of the year, following the 0.2% decline in September.
read more
Yesterday the EURUSD fell with a wide range and closed in the red near the low of the day.
Also yesterday the pair closed below the Fibonacci extension 1.0703 that was acting as a strong support and the 10-day moving average continues to push the currency down acting as a strong resistance.
The key levels to watch are the 1.0900 (Resistance), 1.0819 (resistance), the 10-day moving average at 1.0736 (resistance), a Fibonacci extension at 1.0703 (resistance) and 1.0622 (Support).
EUR/USD continue to drop, now the way is open till April low 1.0565.
EUR/USD remains under 1.07, amid optimistic U.S. inflation data EUR/USD fell steadily on Tuesday remaining near seven-month lows, as optimistic U.S. inflation data augmented hawkish arguments for an interest rate hike by the Federal Open Market Committee when it meets again next month.
The currency pair traded in a tight range between 1.0631 and 1.0691 before settling at 1.0645, down 0.0042 or 0.39% on the session. The euro has closed lower against the dollar in three straight sessions and four of the last six trading days. After a robust monthly U.S. jobs report strengthened the case for an imminent rate hike by the Federal Reserve earlier this month, EUR/USD has closed below 1.085 in each of the last eight sessions. More broadly, the euro has fallen by more than 6% against its American counterpart over the last 30 days of trading.
EUR/USD likely gained support at 1.0519, the low from April 13 and was met with resistance at 1.1496, the high from Oct. 15.
The U.S. Department of Labor's Bureau of Labor Statistics said on Tuesday that its Consumer Price Index (CPI) rose by 0.2% for the month of October amid considerable increases in Medical Care, Education and Vacation prices. Further gains, though, were restrained by modest increases in home prices, which rose by 0.2% after a 0.3% gain in September. Overall, analysts expected monthly gains in the October CPI of 0.2%.
The single currency continued to lose against the US Dollar on Tuesday. The pair opened at a price of 1.0685 after steady downtrend during the session and ultimately closed at a rate of 1.0640. The pair managed to break through the first support at 1.0676. If EUR/USD justify the negative expectations, support at 1.0548 will be broken.
Yesterday the EURUSD fell with a narrow range and closed in the red near the low of the day, shy above the 1.0622 daily support.
Looks like the downside momentum is losing strength and we might see a pullback in the short-term, before another downward move.
The key levels to watch are the 1.0900 (Resistance), 1.0819 (resistance), the 10-day moving average at 1.0729 (resistance), a Fibonacci extension at 1.0703 (resistance) and 1.0622 (Support).