Category: EUR/USD Daily

EUR/USD July 29 – Rangebound Trade Continues



EUR/USD continues to show very little activity on Tuesday, as the pair trades in the mid-1.34 range in the European session, its lowest level since November. German data remains soft, as German Import Prices posted a weak gain of 0.2%. In the US, today’s highlight is CB Consumer Confidence. The markets are expecting another strong showing from the June release.

 Here is a quick update on what’s moving the pair.

  • EUR/USD continues to show very little movement.
  • Current range: 1.34 to 1.3450.

Further levels in both directions:

EURUSD. Daily Forecast July 29

  • Below: 1.34, 1.3375 and 1.33.
  • Above: 1.3450, 1.35, 1.3550, 1.3585, 1.3610, 1.3650 and 1.3677.
  • On the downside, 1.34 is critical support.
  • 1.3450 is immediate, weak resistance, before 1.35.

EUR/USD Fundamentals

  • 6:00 German Import Prices. Estimate 0.3%, actual 0.2%.
  • 13:00 US S&P/CS Composite-20 HPI. Estimate 9.8%.
  • 14:00 US CB Consumer Confidence. Estimate 85.5 points.

*All times are GMT.

For more events and lines, see the Euro to dollar forecast.

EUR/USD Sentiment

  • Markets gearing for crucial week: Investors have started the week on the sidelines, waiting for Wednesday’s triplet market-moving events. These include the FOMC policy statement, US GDP and ADP Non-Farm Payrolls. Volatility is already on the rise, and is set to further advance next week. The action in the euro-zone becomes serious on Wednesday as well, with the release of German CPI.
  • US housing numbers slip: US housing numbers were dismal on Monday. Pending Home Sales came in at -1.1% in June, the worst reading we’ve seen in 2014 from the key housing indicator. The reading was much worse than anticipated, as the estimate stood at -0.2%. Housing numbers were all over the map last week, as Existing Home Sales exceeded expectations, while New Home Sales softened last month.
  • Geo-politics concerns continue: The tensions about the downing of MH17 are rising, as fighting continues in eastern Ukraine between pro-Russian separatists and Ukrainian forces. The EU is preparing to impose tough sanctions against Russia, which could be met with counter-sanctions and weigh on the EZ recovery. In the Middle East, the war in Gaza intensifies with more casualties on both sides as numerous ceasefires have been brokered and broken. Riots have also spread to the West Bank.
  • Mixed German data: Soft German data continues to worry the markets. The weak business confidence data from IFO contradicts the upbeat purchasing managers’ indices coming from the euro-zone’s powerhouse. On Tuesday, German Import Prices posted a gain of 0.2%, which was the best showing in 2014. On the inflation front, Germany has not been immune to Eurozone inflation woes, and we’ll get a look at German Preliminary CPI on Wednesday, with the markets anticipating a weak gain. In general, it seems that Germany cannot carry the euro-zone on its own and a struggling German economy does not bode well for the shaky euro.

More: EURUSD: Vulnerable, Targets Further Downside With Caution

EUR/USD July 28 – Clings to the bottom as busy week begins

EUR/USD July 28 – Clings to the bottom as busy week begins

EUR/USD opens the new trading week very close to the lowest points seen in recent times – the lowest levels since November 2013. A very busy calendar of events awaits along the road, but today’s one is rather light – the calm before the storm.  Here is a quick update on what’s moving the pair. EUR/USD

EUR/USD July 25 – Pressured to low range on weak data

EUR/USD July 25 – Pressured to low range on weak data

EUR/USD is trading lower as the week draws to an end, as geo-political issues push German business confidence lower. The euro seems to ignore some monetary relief recorded in the zone. It is now trading below the pivotal 1.3450 line. Later in the day, we have important data from the US.  Here is a quick update on what’s

EUR/USD – Euro Stable As German, Eurozone PMIs Meet Expectations

EUR/USD – Euro Stable As German, Eurozone PMIs Meet Expectations

EUR/USD has posted slight gains on Thursday, as the pair trades in the high-1.34 range in the European session. On the release front, German and Eurozone PMIs met or exceeded expectations. However, French PMI data was not as positive. In Spain, the unemployment rate dropped below 25% for the first time in almost two years. In the US, today’s key

EUR/USD July 23 – Weakens on US Housing Numbers, Global Concerns

EUR/USD July 23 – Weakens on US Housing Numbers, Global Concerns

EUR/USD finds itself under pressure on Wednesday, as the pair trades in the mid-1.34 range. The euro has fallen to its lowest level since November, and has slipped over 200 points in July. The violence in Gaza and Ukraine, weak Eurozone numbers and talk of a rate hike in the US have boosted the US dollar at the expense of the euro. Will

EUR/USD July 22 – Dips Below 1.35 on Tensions in Ukraine, Gaza

EUR/USD July 22 – Dips Below 1.35 on Tensions in Ukraine, Gaza

EUR/USD has lost ground on Tuesday, as the pair has again broken below the 1.35 line. Will the pair consolidate below this level? Continuing violence in Gaza and Ukraine has lent support to the safe-haven US dollar. On the release front, it’s a busy day in the US, highlighted by Core CPI and Existing Home Sales. There are no

EUR/USD July 21 – Attempts a recovery in low range but fails at resistance

EUR/USD July 21 – Attempts a recovery in low range but fails at resistance

EUR/USD starts the new trading week with a recovery in the low range. The dip below 1.35 seen on Friday proved to be a false one. The worsening situation in Gaza and the rising tensions about the plane crash in Ukraine continue to dominate the headlines, especially as the calendar seems thin. Can the pair return to

EUR/USD July 18 – Remains on the edge of the cliff as geo-politics grab headlines

EUR/USD July 18 – Remains on the edge of the cliff as geo-politics grab headlines

EUR/USD remains on low ground, close to the 1.35 edge as the focus shifts from economic news to two geo-political flare ups: the crash of the Malaysian Airlines plane over Ukraine and the ground operation that Israel has launched into Gaza. These escalations have proven positive for the US dollar and the Japanese yen, but EUR/USD

EUR/USD July 17 – Little Movement as Euro CPI Meets Expectations

EUR/USD July 17 – Little Movement as Euro CPI Meets Expectations

EUR/USD is stable in Thursday trade. In the European session, the pair is trading in the mid-1.35 range. On the release front, Eurozone CPI remained unchanged at 0.5%, matching expectations. In the US, it’s a busy day with three key events, Building Permits, Unemployment Claims and the Philly Fed Manufacturing Index.  Here is a quick update on

EUR/USD July 16 – Weaker on Yellen Rate Remarks

EUR/USD July 16 – Weaker on Yellen Rate Remarks

EUR/USD continues to post losses on Wednesday. In the European session, the pair is trading in the low-1.35 range. The dollar is broadly higher following remarks from Janet Yellen on Tuesday regarding an interest rate hike. The Fed chair continues with her testimony on Wednesday, this time before the House Financial Services Committee. Today’s US highlight is PPI, with the