Eur/usd - page 612

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The euro lost positions against the dollar on Tuesday. The single currency collapsed for a second consecutive session, resulting in the support at 1.1821 being broken. If the bullish sentiment continues, the pair will test the level at 1.1797. Trading started at 1.1926 and the euro fell with 89 pips to the final. The trend was negative for most of the time, as the bottom of the day was hit at 1.1819.
 
EUR/USD
Key levels to watch for:
Support: 1.1821; 1.1797;
Resistance: 1.1979; 1.2002;
 
The euro / dollar made a strong downward movement yesterday, reaching a bottom at 1.1820. From the perspective of the daily timeframe, this fact not only gives further confirmation of the scenario on the downward pin bar (since Monday), but also keeps the scenario of the bearish triangle in place. My downward pattern is reactivated now. Signals remain bearish for testing 1.1735. Intrader resistance is seen around 1.1875. A clear break above this level may send the price to a neutral trading area, but while it holds below 1.1920, any bullish pressure can be seen as a good sales opportunity.
 

The IMF 2018 Fiscal Monitor reported the Italian fiscal deficit at -1.9% of GDP in 2017, falling to -1.6% in 2018.  Bloomberg reports the deficit at -2.3% in 2017, falling to -1.8% in 2018.

The IMF Fiscal Monitor reported that Italy’s primary balance (before interest payments on outstanding debt) was in a surplus of 1.7% in 2017, rising to 1.9% in 2018.  The improving trend helping support Italian financial stability, at least until now.

Italian 10-year government yields rose 16bp (closing European trading on their high), With noticeable contagion to Greece (+24bp), Spain (+5bp) and Portugal (+7bp). German bund yields fell 4bp on safe-haven demand. The spread in Italian government bond yields over German bunds rose to a high since 9-January.

While the EUR/USD was weaker on Wednesday, it has recovered from its lows, and there has been little evidence of contagion to global markets.  Emerging market assets rebounded from losses on Tuesday, despite news that the US-North Korea summit may be derailed. US Yields continued to creep higher, notwithstanding lower Bund yields.
 

On yesterday session, the EURUSD initially fell but found enough buying pressure to erase some of its losses and closed in the middle of the daily range, in addition, managed to close below Tuesdays’ range, which suggests a bearish momentum.

 

The currency pair trading below the 10, the 50 and the 200-day moving averages that should provide dynamic resistance.

 

The key levels to watch: a key level at 1.2165 (resistance), the 200-day moving average at 1.2047 (resistance), a daily resistance at 1.2041, the 10-day moving average at 1.1882 (resistance), January low at 1.1915 (resistance), a daily resistance at 1.1829 and other daily support at 1.1753.

 

On yesterday session, the EURUSD went back and forward without any clear direction and closed in the middle of the daily range, in addition, managed to close within Wednesday’s range, which suggests being clearly neutral, neither side is showing control.

 

The currency pair trading below the 10, the 50 and the 200-day moving averages that should provide dynamic resistance.

 

The key levels to watch: a key level at 1.2165 (resistance), the 200-day moving average at 1.2047 (resistance), a daily resistance at 1.2041, the 10-day moving average at 1.1870 (resistance), January low at 1.1915 (resistance), a daily resistance at 1.1829 and other daily support at 1.1753.

 
The euro / dollar was indecisive yesterday. Trade signals remain neutral in the near future. I'm bearish, but I need a clear breakthrough at least under the support line trend around 1.1785 to rebuild the bears test phase at 1.1735/00. Resistance for the day we have at 1.1837, whose breakthrough can cause further upward correction. But while the couple remains below 1.1920, I prefer the bearish scenario. And any bullish pressure can now be seen as a good sales opportunity.
 

On yesterday session, the EURUSD went back and forward without any clear direction and closed in the middle of the daily range, in addition, managed to close within Wednesday’s range, which suggests being clearly neutral, neither side is showing control.

 

The currency pair trading below the 10, the 50 and the 200-day moving averages that should provide dynamic resistance.

 

The key levels to watch: a key level at 1.2165 (resistance), the 200-day moving average at 1.2047 (resistance), a daily resistance at 1.2041, the 10-day moving average at 1.1870 (resistance), January low at 1.1915 (resistance), a daily resistance at 1.1829 and other daily support at 1.1753.

 
Although there might be some consolidation movements in the coming week, risks remain on the downside. I set my target at 1.1718.
 

On yesterday session, the EURUSD initially fell but found enough buying pressure to turn north and closed near the high of the day, although managed to close within Friday’s range, which suggests being slightly on the bullish side of neutral.


The currency pair continues to trade below the 10, the 50 and the 200-day moving averages that should provide dynamic resistance.

 

The key levels to watch: the 200-day moving average at 1.2047 (resistance), a daily resistance at 1.2041, the 10-day moving average at 1.1840 (resistance), January low at 1.1915 (resistance), a daily resistance at 1.1829 and a daily support at 1.1753 and a key level at 1.1684 (support).

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