CATEGORY EUR/USD

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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

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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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EUR/USD: watch Germany-U.S. 2Y yield spreads – Scotiabank

FXStreet (Guatemala) – Analysts at Scotiabank explained that market participants intensify their focus on relative policy and risks heading into next week’s ECB meeting.

Key Quotes:

“Media focus on the range of ECB options being discussed—including a two tiered deposit rate (to allow for greater cuts), broadening asset purchases to include bonds of towns and regions, as well as loans at risk of non -payment—has weighed on yields across the euro area, pushing the German 2Y yield to a fresh low under -40bpts.

The Germany-U.S. 2Y yield spread is now at a fresh low nearing –134bpts, a level not seen since 2006. Yield spreads have been, and are likely to remain, key drivers for EUR. “

Analysts at Scotiabank explained that market participants intensify their focus on relative policy and risks heading into next week’s ECB meeting.

(Market News Provided by FXstreet)

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EUR/USD regains 1.0600 and trims losses

FXStreet (Córdoba) – EUR/USD staged a mild bounce from fresh 7-month lows and regained the 1.0600 level as the dollar softened into the European close.

After posting a fresh low at 1.0565, EUR/USD turned higher and trimmed early losses, although the upside has remained contained by the 1.0625 zone so far. At time of writing, the pair is trading at 1.0615, still 0.25% below its opening price.

EUR/USD was already under pressure amid increasing speculations the ECB will extend its QE program, when a series of US data released during the New York session pushed the pair to its lowest level since April.

EUR/USD technical levels

On the downside, immediate supports are seen at 1.0520 (Apr 13 low), 1.0500 (psychological level) and 1.0462 (2015 low Mar 13). On the upside, short-term resistances are seen at 1.0679 (10-day SMA), 1.0762 (Nov 19 high) and then 1.0779 (21-day SMA).

EUR/USD staged a mild bounce from fresh 7-month lows and regained the 1.0600 level as the dollar softened into the European close.

(Market News Provided by FXstreet)

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EUR/USD moves back and forth amid Fed/ECB speculation

FXStreet (Córdoba) – EUR/USD continues to move back and forth within its daily range unable to set short term direction as investors assess recent events and their implications on the ECB and the Fed monetary paths.

While a strong jobs report in US boosted expectations of a rate hike in December, there has been reports suggesting the ECB is considering cutting the deposit rate next month, widening the gap on monetary policy prospects between the two banks.

EUR/USD fell to a low of 1.0726 at the beginning of the American session, but managed to recover ground and turned positive for the day. However, gains remain limited, with the 1.0790 area capping the upside. At time of writing, EUR/USD is trading at 1.0760, recording a 0.29% gain on the day.

EUR/USD levels to watch

As for technical levels, immediate resistances line up at 1.0790 (Nov 9 high), 1.0896 (Nov 5 high) and then 1.0916 (10-day SMA). On the flip side, supports are seen at 1.0707 (post-NFP low Nov 6), 1.0660 (Apr 21 low) and 1.0624 (Apr 16 low).

EUR/USD continues to move back and forth within its daily range unable to set short term direction as investors assess recent events and their implications on the ECB and the Fed monetary paths.

(Market News Provided by FXstreet)

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EUR/USD: minor recovery needs to break 1.0800 – FXStreet

FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet noted that the American dollar is giving back some of its recent gains this Monday, albeit the decline is barely corrective, given that the greenback has reached overbought levels against most of its rivals last Friday.

Key Quotes:

“The EUR/USD pair has reached a daily high of 1.0789 as local share markets retreated some, but the upside remains limited. Early data showed that German trade balance reached a surplus of €22.9 billion in September 2015, whilst exports and imports jumped well above expected in September, reversing the declines from previous months.”

“With only some minor reports scheduled for the American session, the pair remains below the 1.0800 level, with limited upward potential in the short term, as the 1 hour chart shows that the Momentum indicator has host its upward strength after recovering above its 100 level, whilst the RSI indicator is resuming its decline around 45, having corrected the extreme oversold readings reached last Friday.”

“In the 4 hours chart, the 20 SMA maintains a strong bearish slope above the current price, offering an immediate resistance around 1.0820, whilst the technical indicators have turned south well below their mid-lines and after correcting extreme oversold readings, supporting further declines particularly on a break below 1.0700.”

Valeria Bednarik, chief analyst at FXStreet noted that the American dollar is giving back some of its recent gains this Monday, albeit the decline is barely corrective, given that the greenback has reached overbought levels against most of its rivals last Friday.

(Market News Provided by FXstreet)

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