Eur/usd - page 351
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Euro registered fifth negative against the dollar on Friday and thus the price reached six-month low. The single currency depreciated by 140 pips to 1.0743 after the good data on the labor market in the US dollar supported and strengthened speculation about raising interest rates in December. EUR/ USD found support at 1.0708, but the outlook remains negative. Possible correction of the downward trend in the short term may resume bears interest.
Lazy Monday for the EUR/USD today, I think that i will wait the US retail Sales this Friday.
Not much of movement on the EUR/USD today, after last week's drop it was expected.
France's Factories Surprise on Upside in Sept Industrial production in Europe's second largest economy maintained an upward trend in September on a monthly basis, according to data from the National Institute of Statistics and Economic Studies (INSEE) released on Tuesday.
Industrial production in France advanced 0.1% in the ninth month of the year, measured month-on-month, compared with a revised 1.7% result posted in August. Analysts had expected a 0.4% decrease for September.
In annual terms, industrial output added 1.8% in the reported period compared with the revised 1.4% decrease in August and analysts' expectations of a 1.8% gain.
Meanwhile, INSEE also reported fresh data for the nation's manufacturing production, with a flat reading of 0.0% measured on a monthly basis after adding 2.2% a month ago. Analysts had forecast a 0.5% decline for September.
"In September 2015, output stagnated in the manufacturing industry (0.0% after +2.2% in August), and remained virtually stable in the industry as a whole (+0.1% after +1.7% in August)," INSEE said in a press release.
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Today the euro started with depreciation against the dollar. The single currency depreciated to 1.0736 and headed to Friday's bottom at 1.0705.
Yesterday the EURUSD initially rose but found enough selling pressure to give some of its gains back to the market and closed in the green in the middle of the daily range.
Yesterday the pair made an inside day due to its narrow range providing a clue that is entering in consolidation mode.
The key levels to watch are the 1.0900 (Resistance), the 10-day moving average at 1.0873 (resistance) 1.0819 (support), a Fibonacci extension at 1.0703 (Support) and 1.0622 (Support).
hii guys
please i want to know if all red news have strong effect on forex?
The EUR/USD recorded new low at 1.0675 after 7 months, the trend strongly down as i see no thing positive in the eurozone to pull the pair up again.
I dont see still an opening for a position for EUR/USD, the pair is trading in tight range after friday's spike and yet no signal on the daily or 4 hour chart for entry point.
Yesterday the EURUSD fell but found enough buying pressure to trim some of the losses and closed in the red in the middle of the daily range.
Yesterday the pair breach below a Fibonacci extension at 1.0703 but without any follow thru suggesting a continuation of the consolidation mode.
The key levels to watch are the 1.0900 (Resistance), the 10-day moving average at 1.0843 (resistance) 1.0819 (support), a Fibonacci extension at 1.0703 (Support) and 1.0622 (Support).