Eur/usd - page 467

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The euro rose against the dollar on Friday. At the closing of trading session EUR/USD has traded at 1.1174, gaining 0.88%.
I believe that the support is now located at the level of 1.0950, Monday's low, and resistance is likely at 1.1197 - a maximum of Friday's trading.
 
The EUR/USD continued to restore the level of 1.1170, further rise is unlikely for the pair. Particular attention should be paid to the rate of inflation next week, because ECB will be guided by it when adopting additional easing measures at the next meeting.
 
The euro/dollar on Friday afternoon has grown against the background of weak statistics in the United States. The pair ended the day at 11,72. Since the beginning of the trading session the pair rose by 1.4%. The dollar fell because in the second quarter 2016 US GDP was much worse than expected and amounted only 1.2% q/q instead of expected 2.6%.
 

EUR/USD forecast for the week of August 1, 2016


The EUR/USD pair rose during the week, slamming towards the 1.12 level. This is a market that continues to show quite a bit of volatility but we are starting to see strength in the Euro recently. However, the previous uptrend line should offer quite a bit of resistance, so I’m a bit worried about going long for a longer-term trade. I think quite frankly, we will see a resistive candle that we can search selling again, but it will more than likely be off of the shorter-term charts, not the weekly chart.


 
If the EURUSD breaks above the 1.1200 level, then it may reach the 1.1300, to the downside, the 1.1100 level could act as support.
 

Euro recorded successful session against the US dollar on Friday. Thus the single currency recovered from losses in the previous session and neared the resistance at 1.1219. If bullish sentiment continue to dominate, it will be broken soon. The session on Friday opened at  1.0972 and the the euro gained 205 pips to the end of the session. In early trading hours the trend was neutral, but the direction was changed in the afternoon and the pair reached intraday high at 1.1196.

 
The EUR/USD is trading higher since Wednesday last week when the FED decided not to raise the interest rate. The pair went from 1.0961 to a high of 1.1197 in less than three days. today the pair is trading at 1.1175 as the trend is looking slightly exhausted.
 

ECB QE count: Bought €16.49bn vs €17.45bn prior

Latest ECB QE totals for week ending 29 July 2016

  • Total QE 944.9bn vs 928.4bn prior
  • Total covered bonds 186.6bn vs 186.0bn
  • Total ABS 20.4bn vs 20.3bn prior
  • Total corp bonds 13.2bn vs 11.8bn prior
  • The weighted average maturities for the month rose to 8.26 vs 8.18 prior        
 

Euro Zone Factories Weaker in July: PMI

The manufacturing sector in the 19-state bloc remained in expansion territory in July, but the activity cooled down when compared to June, a final survey by Markit Economics showed on Monday.

The manufacturing PMI reading hit 52 points in July, following 52.8 booked a month before, according to the fresh report. Analysts had forecast 51.9 points.

"The surveys suggest that euro area factory output is expanding at a near-2% annual pace, which has encouraged firms to take on extra staff at the fastest rate for five years in recent months. Deflationary pressures are also easing, with costs showing the first rise for a year and selling prices stabilising," Chris Williamson, Markit's chief economist detailed in the report on Monday.

"However, dig deeper beyond the headline numbers and more worrying pictures appear. Expansions in output and employment are clearly being driven to a large extent by surging growth in Germany, while growth has almost stalled in both Italy and Spain and contractions are being seen in France and Greece," Williamson detailed further.

 

The euro marked a neutral session against the US dollar on Monday. The single currency remained at the high levels since the end of last week, but couldn’t break the resistance at 1.1219. 

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