Category: EUR/USD Daily

EUR/USD falls to 1.08 – erases the weekly gains



Are we seeing the end of the USD correction? For a change, data coming out of the US was not all bad and the dollar had reasons to rise The result is a fresh surge of the greenback. For the euro, which continues being weighed down by QE, this means new falls. Also talks about Greece’s cash flow have a negative impact.

EUR/USD is hardly holding on to 1.08, basically erasing the gains for the week. We still have more important figures later in the day.

The pair began the week just above 1.08, but shot up and began a long battle around the round 1.10 level. A first attempt didn’t work but consequent moves sent it up to 1.1050. However, it was hard for the euro to hang on there.

Perhaps the latest trigger is a new fall in the price of oil: the black gold soared on the breakout of fighting in Yemen. However, it seems contained for now.

Data coming out of Europe is not first tier: German import prices beat expectations, but that’s not very important.

The big events come from the US:

  • FOMC member Stanley Fischer is set to talk at 10:30 GMT. He is the Vice Chair and close to Yellen’s view.
  • The final GDP read for the US fo Q4 2014 is published at 12:30 GMT. A small upgrade from 2.2% to 2.4% is on the cards.
  • And just as the week ends, Fed Chair Janet Yellen will be speaking at 19:45 GMT. She is usually very careful, but could still rock the boat.

More: EURUSD Holds at Critical Resistance Printing a Sell Signal

1.0760 provides some support if the round level of 1.08 is breached. Further support awaits at 1.0650. 1.0850 is resistance, before 1.0910 and 1.10. Volatility has certainly been significant lately.

And here is how it looks on the chart:

euro dollar March 27 2015 down on USD weakness technical chart EURUSD

EURUSD Holds at Critical Resistance Printing a Sell Signal

EURUSD Holds at Critical Resistance Printing a Sell Signal

The markets have been very churned up this week so traders should be extra vigilant with their trading decisions. It is hard to find good PA setups at the moment, and is probably going to be one of those ‘hurry up and wait’ weeks. Looking at the EURUSD today – an inside day recently formed within some

EUR To Gain Further Vs USD, GBP; AUD/USD Holds 50d MA – BofA Merrill

EUR To Gain Further Vs USD, GBP; AUD/USD Holds 50d MA – BofA Merrill

EUR/USD has been flirting with 1.10 lately, but hasn’t really made a definitive decision on its next direction. The team at Bank of America Merrill Lynch sees more gains ahead for the pair and has ideas also on GBP and AUD: Here is their view, courtesy of eFXnews: EUR continues to push higher against both

German manufacturing PMI beats – EUR/USD flirts with 1.10

German manufacturing PMI beats – EUR/USD flirts with 1.10

German manufacturing PMI rose to 52.4 points in March, better than expected. The services PMI also came a bit above expectations and scored 55.3 points. EUR/USD is topping 1.0980. Can it reconquer 1.10? The flash German manufacturing PMI for March was expected to tick up to 51.5 points from 51.1 for February. The services sector PMI carried

EUR/USD extends gains as Fischer sounds unhappy with USD strength

EUR/USD extends gains as Fischer sounds unhappy with USD strength

FOMC member Stanley Fischer said that the stronger US dollar is offsetting some of the US benefits of ECB QE. This is yet another subtle sign of unease from the Fed regarding the rapid appreciation of the greenback. EUR/USD is now extending its gains and hitting 1.0950. Will it top 1.10? The fall of the pair

EURUSD Will Move Through 1.1050: Elliott Wave Analysis

EURUSD Will Move Through 1.1050: Elliott Wave Analysis

I see that the markets have gone crazy last week, with EURUSD turning up almost 600 pips. Some traders can be making good bucks in this environment, but I am afraid that those with small accounts are losing it, so make sure to trade micro lots if your account is small. You need to protect

Despite Volatility, EUR/USD Shorts Still Attractive- Goldman Sachs

Despite Volatility, EUR/USD Shorts Still Attractive- Goldman Sachs

What’s next for the US dollar after the dovish Fed? At HSBC, they see the beginning of the end of the USD rally. But here, Goldman Sachs say that EUR/UDS shorts are still attractive: Here is their view, courtesy of eFXnews: Last week, Goldman Sachs reiterated the case for further EUR/USD downside, lowering its 12-month

EUR/USD dips below 1.07 in post Fed hangover

EUR/USD dips below 1.07 in post Fed hangover

EUR/USD benefited quite a lot from the Fed’s relatively dovish tone towards rates. The pair climbed before the publication and jumped to resistance at 1.0910. It even made a flash move to 1.1025. However, as European traders reach their desks, the tide is turning and the pair is down to 1.07. The low so far is 1.0695,

EUR/USD: 2 Channels For Outflows & 2 Factors To Define A Bottom

EUR/USD: 2 Channels For Outflows & 2 Factors To Define A Bottom

EUR/USD is currently hugging the 1.06 level in anticipation of the Fed. Where will it trade afterwards? And what flows impact the pair? The team at Danske provides these charts and explanations: Here is their view, courtesy of eFXnews: ECB QE fuels EUR outflows via two channels: − The combination of rising excess liquidity and negative

Keep Buying The USD; EUR/USD Set To Break Below Parity – RBS

Keep Buying The USD; EUR/USD Set To Break Below Parity – RBS

EUR/USD manages to stabilize above 1.05 in anticipation of the Fed meeting. This is probably the calm before the storm. What’s next for the pair? RBS sees a clear direction down: Here is their view, courtesy of eFXnews: In its monthly FX note, RBS urges its clients to not allow familiarity with the stronger Dollar, weaker