Eur/usd - page 369

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EUR/USD has shown a progress on Friday and thus broke a three-day losing streak. However, the single currency reported negative week,for which mostly contributed the tightening of stimulus by the Fed on Wednesday. Overall EUR/USD rose 50 pips for the day, but lost over 110 pips for the week to 1.0872. In short term the negative outlook prevail, but for a continuing decline is needed overcoming the levels at 1.0805.

 

On Friday session the EURUSD rose but and closed in the green, near the high of the day but closed within previous day range, suggesting that the pair turn into a consolidation mode.

The 50-day moving average is acting as a dynamic support and held the price on Friday and until we see a close below it we should stick with the bullish guns.

The key levels to watch are: the 10-day moving average at 1.0913 (resistance), the 1.0900 (resistance), the 50-day moving average at 1.0817 (support), 1.0819 (support) and 1.0703 (support).

 

EUR/USD: Trading the Final US GDP US Final GDP is a key release and is published each quarter. GDP reports measure production and growth of the economy, and are considered by analysts as one the most important indicators of economic activity. A reading which is higher than the market forecast is bullish for the dollar.

Here are all the details, and 5 possible outcomes for EUR/USD.

Published on Wednesday at 12:30 GMT.

Indicator Background

Final GDP is the final of three GDP versions. Traders should pay close attention to the GDP release, as an unexpected reading could quickly affect the direction of EUR/USD.

US Preliminary GDP posted a strong gain of 2.1% for Q3, ahead of the estimate of 2.0%. Final GDP for Q3 is slightly lower, with the estimate standing at 1.9%.

Sentiments and levels

The historic Federal Reserve interest rate hike has sharpened monetary divergence with the ECB, especially with the easing steps the ECB took at its last meeting. So, the overall sentiment is bearish on EUR/USD towards this release.

Technical levels, from top to bottom: 1.10, 1.0925, 1.0880, 1.08, 1.0710 and 1.0630.

5 Scenarios

  1. Within expectations: 1.6% to 2.2%: In such a scenario, EUR/USD is likely to rise within range, with a small chance of breaking higher.
  2. Above expectations: 2.3% to 2.7%: An unexpected higher reading can push the pair below one support line.
  3. Well above expectations: Above 2.7%: A strong reading would likely boost the dollar, and the pair could break below a second support line as a result.
  4. Below expectations: 1.1% to 1.5%: In this scenario, EUR/USD could push above one resistance level.
  5. Well below expectations: Below 1.1%. A weak gain could result in the pair pushing above a second resistance line.

source

 

EUR/USD is struggling against the resistance levels 1.0930, I don't think with the Holidays coming there will be much volatility.

 
sherif fares:
EUR/USD is struggling against the resistance levels 1.0930, I don't think with the Holidays coming there will be much volatility.

I have the same feeling as yours, but i will stay tune for any short opportunity this week.

 

EUR/USD: Pair Settles Over $1.0900 in Calm Session

The main currency pair in the world crossed over $1.0900 during the early US trading hours, following hours of trading around the flatline during the first European and Asian session of the week.

Earlier in the day, minor German data were released and showed the country's PPI rose from -0.4% to -0.2% in November, with the yearly print worsening from -2.3% to -2.5%.

The prices of goods leaving German factories in November fell as producers saw some relief from lower oil prices, while weak demand kept up the pressure on costs.

As there is nothing on the agenda on Monday from the US and currency markets are in a Christmas mode, volatility should be low. Data that traders might focus on during the week include the US third revision of GDP growth and durable goods orders, but due to low liquidity, reactions should be mild.

 

The euro recorded a second consecutive winning session against the dollar on Monday and added nearly 60 pips to a closing price of 1.0913. Session peak was reached at 1.0938, while the lowest point was marked at the level of 1.0847. Positive attitudes in the short term gradually prevail for which contributes the confirmed break of 1.0900. For continuing growth is necessary to overcome the 50-period average, as a key objective is the 1.0995.

 

Yesterday the EURUSD rose with a wide range and close near the high of the day, in addition closed above the previous day high, all suggesting that the bulls took control.

The 10-day moving average is acting as a dynamic resistance and held the price on yesterday session and a close above it may bring more bulls to the table.

The key levels to watch are: the 200-day moving average at 1.1077 (resistance), the 10-day moving average at 1.0916 (resistance), the 1.0900 (support), the 50-day moving average at 1.0816 (support) and 1.0819 (support).

 

Technically the daily prices are trading above its 50 day Moving average with picture being slight bullish.Nevertheless, it is expected to be in the limited range of 1.07 to 1.106 levels for the some upcoming sessions. Meanwhile the data from US and Germany would be looked out by investors. The resistance can be seen at 1.104 levels with next placed at the level of 1.106, while to the downside the support can be located at the level of 1.083 with next support at 1.079 and 1.071.

 

EUR/USD is climbing for the 3rd day and next resistance level is 1.0991, Anyway I dont think I will open a position before the holiday season.

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