CATEGORY EUR/USD

Dollar Struggles Despite Fed Optimism

Eurozone Manufacturers Still Extremely Bullish Despite Stronger Euro It’s been a positive start to trading on the first day of the month, with markets in Europe trading well in the green and US futures ticking a little higher as well. It’s been a busy morning of economic releases and broadly speaking, the data is very…

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US Jobs and Fed to Guide Dollar

Dollar Lower Awaiting Employment Data and Fed Statement Chair Yellen’s Last Fed Meeting as Chair The USD is trading lower versus most majors ahead of US President Donald Trump’s first State of the Union address, January’s monetary policy statement from the US Federal Reserve and the ADP private payrolls report. Strong economic data from both…

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EUR/USD clings to 1.1200

FXStreet (Córdoba) – EUR/USD lost momentum and halted its recent rally after hitting a 3 ½-month peak of 1.1238 following disappointing US jobless claims data.

The pair pulled back from recent highs and dipped below the 1.12 mark. However, with the pullback contained by 1.1157, it settled in a narrow range centered in the round number over the last hours, as the dollar is taking a breather following a massive sell-off. At time of writing, EUR/USD is trading at 1.1190, still up 0.77% on the day, having risen almost 300 pips from yesterday’s lows.

Market’s attention now turns to the nonfarm payrolls report on Friday, which is expected to show that the US economy added 190,000 jobs in January, down from a 292,000 gain in December.

EUR/USD levels to watch

As for technical levels, immediate resistances are seen at 1.1238 (Feb 4 high), 1.1298/1.1300 (23.6% Fibo retracement of 1.3993-1.0462/psychological level), 1.1385 (Oct 20 high). On the other hand, supports could be found at 1.1055 (200-day SMA), 1.0967 (100-day SMA) and 1.0909 (20-day SMA).

EUR/USD lost momentum and halted its recent rally after hitting a 3 ½-month peak of 1.1238 following disappointing US jobless claims data.

(Market News Provided by FXstreet)

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EUR/USD unstoppable, advances toward 1.1100

FXStreet (Córdoba) – EUR/USD continues to rise and hit a fresh daily high at 1.1079, the strongest level ion three months. The pair was holding near the highs and still with a bullish tone.

A strong EUR

While the US dollar plummeted across the board, the euro gained momentum amid risk aversion. Stocks in Europe and in Wall Street were recovering ground but failed to hold and turner lower. European stock indexes are about to end the day with a decline of 1.50% on average while in the US, the Dow Jones lost 300 points from the level it opened and it was falling 0.55%.

Ricks aversion boosted the euro in the market giving another boost to the EUR/USD, that so far is gaining almost 150 pips, having the best daily performance since January 7.

The US dollar weakened in the market following the release of US economic reports that did failed to lift expectations of a Fed rate hike in March, that continue to decline. The ISM Non-manufacturing come in at 53.5 during January, below expectations, the Services PMI tracked by Markit dropped to 53.2. The positive news was the ADP report, that showed that the US private sector added 205K jobs during last month, above the 195K expected. The labor market data failed to remove pressure from greenback.

EUR/USD continues to rise and hit a fresh daily high at 1.1079, the strongest level ion three months. The pair was holding near the highs and still with a bullish tone.

(Market News Provided by FXstreet)

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EUR/USD breaks above 1.1000 on US data

FXStreet (Edinburgh) – It’s all about USD weakness today, with EUR/USD now advancing beyond the psychological mark at 1.1000.

EUR/USD stronger as Dollar slumps

The pair is testing January highs in the mid-1.1000s following an increasing selling pressure around the greenback in response to disappointing releases in the US docket.

In fact, the ISM Non-manufacturing has come in at 53.5 during January, missing expectations and dropping from December’s 55.3. The data adds to a lower Services PMI tracked by Markit posted before. On the bright side (theoretically at least), the ADP report showed the US private sector added 205K jobs during last month, bettering initial forecasts, although markets largely ignored the print.

EUR/USD levels to watch

The pair is now advancing 0.95% at 1.1017 facing the next resistance at 1.1054 (200-day sma) followed by 1.1059 (December high) and finally 1.1100 (psychological handle). On the other hand, a break below 1.0777 (post-ECB low Jan.21) would open the door to 1.0737 (38.2% Fibo of 1.0538-1.1059) and finally 1.0709 (low Jan.5).

Trade Nonfarm payrolls with FXStreet – Live Coverage

It’s all about USD weakness today, with EUR/USD now advancing beyond the psychological mark at 1.1000…

(Market News Provided by FXstreet)

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EUR/USD challenges cycle lows

EUR/USD challenges cycle lows

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EUR/USD challenges cycle lows

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FXStreet (Córdoba) – EUR/USD extended losses during the American session as the dollar staged a broad comeback that was fueled by solid US jobs data, with the pair retracing completely previous day’s gains.

EUR/USD dropped nearly 80 pips over the day and hit a daily low of 1.0558, pausing the decline just above its 7-month low scored last Friday. At time of writing, the pair is trading at 1.0567, recording a 0.56% loss on the day.

Traders’ attention now turns to the European Central Bank decision on Thursday when the bank is expected announce more monetary stimulus in the form of a deposit rate cut and/or an expansion of its QE programme, which if confirmed will add further pressure on the euro.

EUR/USD key levels

In terms of technical levels, next supports for EUR/USD are seen at 1.0557 (7-month low Nov 30), 1.0520 (Apr 13 low), 1.0500 (psychological level) and then 1.0462 (2015 low Mar 13). On the upside, immediate resistances could be faced at 1.0636/37 (Nov 27, Dec 1 highs), 1.0700 (psychological level), 1.0762 (Nov 19 high) and 1.0829 (Nov 12 high).

EUR/USD extended losses during the American session as the dollar staged a broad comeback that was fueled by solid US jobs data, with the pair retracing completely previous day’s gains.

(Market News Provided by FXstreet)

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