Category: EUR/USD Daily

EUR/USD Aug. 27 – Marks lower range in ongoing erosion



EUR/USD is getting comfortable in a lower range below 1.3175, after yet another slide. It seems there is no mercy for the pair. After seeing very strong consumer confidence from the US yesterday was the latest excuse to buy the greenback. Today’s light calendar also supports that direction, with more disappointments from Germany. What’s next?

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

  • EUR/USD consolidated the loss of 1.3175 and settled lower
  • Current range: 1.3150 to 1.3175.

Further levels in both directions:

EURUSD August 27 2014 technical analysis for currency trading euro dollar

  • Below: 1.3150, 1.31 and 1.30.
  • Above: 1.3175, 1.3220, 1.3295 and 1.3333
  • 1.3175 is and old line but it proved strong.
  • 1.3220 is the close on Friday.

EUR/USD Fundamentals

  • 6:00 German  GfK Consumer Climate. Exp. 8.9, actual 8.6 points.
  • 6:00 German Import Prices. Exp. -0.1%, actual -0.4%.

*All times are GMT.

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

EUR/USD Sentiment

  • Best US consumer confidence since 2007: The CB consumer confidence reached 92.4 points, the highest level since October 2007, just before the great recession began. Together with a leap in durable goods orders, the US dollar got more fuel for its rally. The initial reactions were somewhat muted, as some consolidation was needed, the greenback eventually reacted. Tomorrow we have more important data: GDP and jobless claims.
  • Jackson Hole fallout: Janet Yellen did her best not to rock the boat, and the lack of dovishness was dollar positive, following the trend seen after the not-too-dovish FOMC minutes. ECB president Mario Draghi certainly left the door open for more action, and QE certainly seem on the cards. He also asked governments to do more. This triggered the weekend gap which was never closed.
  • More weak German data: The fresh weakness in consumer confidence in Germany joins weaker business confidence seen earlier in the week. One of the factors is Russia, another is prices. We will get initial inflation data for Germany tomorrow.
  • Some optimism on Ukraine:: The Russian and Ukrainian presidents met in Minsk and sent a more optimistic message. Together with a seemingly solid ceasefire in Gaza, geopolitics might take the back burner for a change.

Listen to the latest podcast here, focusing on the Fed:

Download it directly here.

EUR/USD Aug. 26 – “dead cat bounce” move fails to close the gap

EUR/USD Aug. 26 – “dead cat bounce” move fails to close the gap

EUR/USD is trading under 1.32 once again. The pair bounced off low support and attempted a recovery. However, it was unable to close the gap, despite some weak US data. Today we have quite a few important US indicators.  Here is a quick update on what’s moving the pair. EUR/USD recovered and reached 1.3214. It did not

EUR/USD gaps lower, close to low support

EUR/USD gaps lower, close to low support

There’s no mercy for euro/dollar: another dollar storm that originated in digesting the Jackson Hole news resulted in a Sunday gap. The open gap serves as a bearish sign. EUR/USD hit 1.32 and fell below this line, to a new 11 month low. The pair hesitated above low support but the bounce from the lows didn’t

EUR/USD Aug. 22 – Off the lows ahead of Yellen’s all important speech

EUR/USD Aug. 22 – Off the lows ahead of Yellen’s all important speech

EUR/USD is trading towards the upper end of the tight range that characterizes it towards the all-important Jackson Hole Symposium in which both heads of central banks give important speeches. How will EUR/USD look like after Yellen and Draghi take the stage? Is a dovish Yellen already priced in? Update: Yellen provides no new message – USD stronger

EUR/USD – Steady on Mixed Euro PMIs

EUR/USD – Steady on Mixed Euro PMIs

EUR/USD continues to trade at low levels on Wednesday, as the pair trades in the mid-1.32 range. The euro has lost over 100 points this week and finds itself at its lowest level since September 2013. On the release front, a host of Euro PMIs painted a mixed picture, with German figures beating their estimates. It’s a busy day in the US, with two

EUR/USD Aug. 20 – Slide Continues as Markets Eye Fed Minutes

EUR/USD Aug. 20 – Slide Continues as Markets Eye Fed Minutes

EUR/USD has weakened on Wednesday, as the pair trades below the 1.33 line. The euro has surrendered about 100 points so far this week, and has fallen to its lowest level since September 2013. It’s a quiet day on the release front, highlighted by the Federal Reserve minutes. In the Eurozone, German numbers continue to struggle, as PPI came in at -0.1%, shy of the estimate of

EUR/USD Aug. 19 – Markets Await US CPI Data

EUR/USD Aug. 19 – Markets Await US CPI Data

EUR/USD is trading quietly on Tuesday, as the pair trades in the mid-1.33 range in the European session. On the release front, there was more bad news out of the Eurozone, as Current Balance dropped sharply in July. In the US, we’ll get a look at key inflation indicators, with the release of Core CPI and CPI. As well,

EUR/USD Aug. 18 – Clings to 1.34 as Fed focused week begins

EUR/USD Aug. 18 – Clings to 1.34 as Fed focused week begins

EUR/USD starts another week in August with slow trading around the 1.34 level. We have seen the pair slide for several weeks, but we haven’t seen a major break in quite some time. Is this the calm before the storm? A slight disappointment in trade balance hasn’t helped the euro that still suffers from the weak GDP

EUR/USD Aug. 14 – Euro Gains Ground Despite Sluggish GDP Data

EUR/USD Aug. 14 – Euro Gains Ground Despite Sluggish GDP Data

EUR/USD is firm on Thursday, as the pair trades in the high-1.33 range. On the release front, the Eurozone released GDP and inflation data earlier in the day. GDP numbers Germany, France and the Eurozone missed the estimates, while Eurozone inflation indicators matched the forecast. In the US, today’s key event is Unemployment Claims. The markets are

EUR/USD Aug. 13 – Under Pressure as Euro Growth, Inflation Eyed

EUR/USD Aug. 13 – Under Pressure as Euro Growth, Inflation Eyed

EUR/USD continues to point downwards on Wednesday, as the pair trades in the mid-1.33 range. In economic news, German and French inflation levels remained low in July. Eurozone manufacturing numbers are also sputtering, as Industrial Production posted a second straight decline. In the US, today’s major events are Core Retail Sales and Retail Sales. The markets are keeping a