Eur/usd - page 414
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The EUR/USD is trading higher today due to support level reached yesterday. The pair made a high of 1.1225 and is currently trading at 1.1215. Please be aware that we have important statement from FED's Chairman Janet Yellen in less than a couple of hours.
The euro recorded a second consecutive increase against the dollar on Tuesday. The growth of the single currency was significant and came suddenly before the end of the session. As a result, resistance at 1.1244 has been overcome. If the bullish trend continue in the future, the pair will test the key level at 1.1343.
Yesterday EURUSD rallied with a wide range and closed near the high of the day, in addition managed to close above the previous day high, suggesting a strong bullish momentum.
The pair closed well above the 10-day moving average also is above the 50 and the 200-day moving averages that are acting as dynamic support.
The recent EURUSD rally is in speculation that the Fed will not raise rates in April but all can change on Friday as the US prepares to release the non-farm payrolls numbers.
The key levels to watch are: A daily resistance at 1.1456, the 2016 high at 1.1376 (resistance), the previous swing high at 1.1342 (resistance), a daily support at 1.1237, the 10-day moving average at 1.1223 (support) and the 50 day moving average at 1.1122.
Trading on Tuesday launched at a price of 1.1194, while the euro gained 95 pips to finish. Top of the day was scored just before the end of the session at 1.1302.
Interesting levels to watch for today:
Support: 1.1143; 1.1103;
Resistance: 1.1325; 1.1345.
March 2016 Eurozone economic sentiment 103.0 vs 103.8 exp Details of the March 2016 Eurozone economic sentiment and final consumer confidence report 30 March 2016
A further dip in sentiment which has been running pretty strongly since 2012. Worse news on the price expectation front. Inflation expectations drop and selling prices haven't been expected to rise since late 2014.
The EUR/USD is trading higher in today's session after it became clear that Janet Yellen is not going to raise rates next month. Traders and investors read her commentaries as bearish for the dollar and the pair surged to 1.1250 mid-event. Early this morning the EUR/USD made a high of 1.1330, first resistance and is now trading at 1.1312.
1.1330 immediate resistance
The single currency rose sharply against the US dollar on Tuesday after Janet Yellen declared that the US central bank should be careful in the coming increases in interest rates in the country.
On Wednesday, the Chicago Fed President Charles Evans supported the position of the head of the US central bank's Janet Yellen and suggested that a raise of the rate at the April meeting is less possible.
In an interview with CNBC Chicago Fed president added that he would be surprised if all the conditions for the raise of the rate will be executed until the next meeting in April, although he noted that the rise could happen in June, when the labor market will continue to strengthen.