Eur/usd - page 408
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EUR/USD Forecast March 14, 2016 The EUR/USD pair initially fell during the course of the session on Friday, turning back around to form a bit of a hammer. The hammer of course is a very bullish candle, so if we can break above the top of a believe that the market should continue to go higher, perhaps reaching to the 1.13 level given enough time. Ultimately, this is a market that certainly looks like it’s ready to break out to the upside, perhaps even going higher than we’ve recently seen and reaching towards the 1.15 level. We do not have any interest in selling at the moment.
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EUR/USD Weekly Outlook: Pair Bullish Heading Into FOMC Decision Most of this week's attention will focus on the Federal Open Market Committee monetary policy decision due on Wednesday, which will most likely bring significant volatility.
The European calendar starts on Monday with industrial production for January expected to improve both on the monthly and yearly basis. Tuesday will bring only French CPI for February, which will be overlooked by market participants.
European data will continue on Thursday, when the euro zone CPI for February will be released. It should not cause any significant volatility as the European Central Bank had its meeting a week ago.
There are some important figures from the US throughout the week, with retail sales and PPI indices expected on Tuesday, with CPI inflation indices for February following on Wednesday. Moreover, housing starts and building permits will be released on this day, along with capacity utilization and industrial production, both for February.
More importantly, the Federal Reserve (Fed) will announce the interest rate decision and market participants are not expecting any changes to monetary policy, but the focus will be on the so-called dot plot and economic projections, where the Fed might sound dovish and/or negative.
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On the last Friday’s session the EURUSD initially fell but found enough buying pressure at 1.1097 daily support to reverse and closed in the middle of the daily range, in addition closed within the previous day range, suggesting lack of momentum and market indecision.
The pair closed above the 10, 50 and the 200-day moving averages that are acting as dynamic support.
The key levels to watch are: The year high at 1.1376 (resistance), a daily resistance at 1.1237, daily support at 1.1097, the 200-day moving average at 1.1024 (resistance), 50-day moving average at 1.1012 (resistance) and the 10-day moving average at 1.1002 (support).
The EUR/USD lost a bit from what was gained during the last two days of the previous week. Nevertheless, the pair is now trading in the uptrend channel and looks ready to test the first support at 1.1080. If this support holds, then the pair might attempt to test first resistance which appears to be the last high of 1.1220.
The pair continued its decline for a second day, as the euro has depreciated by about 50 pips to closing price of 1.1101. The extreme values were recorded respectively at 1.1175 and 1.1077. The index of relative strength retreated to neutral territory, but the graphics continues to develop over the moving averages as levels at 1.1070 appear to be additional support downwards.
Yesterday EURUSD fell with a narrow range and closed near the low of the day, however managed to close within the Friday day range, suggesting a weak bearish momentum.
The pair is still trading above the 10, 50 and the 200-day moving averages that are acting as dynamic support.
The pair is retesting the 1.1097 daily support and if the price holds it could signal another leg up.
The key levels to watch are: The year high at 1.1376 (resistance), a daily resistance at 1.1237, daily support at 1.1097, the 10-day moving average at 1.1072 (support), the 200-day moving average at 1.1027 (support) and the 50-day moving average at 1.1026 (support).
EUR/USD : Targets For A Limited Rebound Setup - SocGen After testing key levels 1.06/1.05 last year, EUR/USD is undergoing broad consolidation.
Downtrend is still in place; 1.06/1.05 will decide next leg of down cycle.
Short term though, the pair revisited February lows (1.08) and looks to show a rebound towards 1.1250. Graphical levels at 1.1460 will remain near term hurdle.
The pair traded in a narrow range during yesterday's session and remained without any significant changes at a level of 1.1105. The extreme values were recorder at 1.1124 and 1.1071. The index of relative strength remains in neutral territory but the chart continues to develop over moving averages. Keeping the the support at 1.1070 creates conditions for the renewal of the upward movement.
Yesterday EURUSD went back and forward without any clear direction with a narrow range and closed in the middle of the daily range, however managed to close within the previous day range, suggesting lack momentum and indecision in the market.
The pair is still trading above the 10, 50 and the 200-day moving averages that are acting as dynamic support.
Today we will have the FOMC Economic projections and Fed interest rate decision that should bring a lot of volatility to the market. However the market is not expecting any interest rate hike for this month.
The key levels to watch are: The year high at 1.1376 (resistance), a daily resistance at 1.1237, daily support at 1.1097, the 10-day moving average at 1.1079 (support), the 50-day moving average at 1.1030 (support) and the 200-day moving average at 1.1027 (support).
Euro/dollar was volatile yesterday. The outlook remains bearish for now, but as long as the price holds above 1.1065, the pair is still in the upward phase targets near the trend line resistance, localized around 1.1300. On the downside, a clear break below 1.1065 will become a threat to the bullish phase targets near 1.1000 or lower. Resistance for the day is 1.1125 (yesterday's high). A clear break above it could trigger further bullish pressure testing 1.1200. The main technical outlook remains neutral.