Sherif Fares
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EUR/USD is still in the range between 1.1380 and and 1.1325 I am still waiting to see the close of today.
victoriajensen
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The pair will probably continue to consolidate until the ECB rate decision announcement later this week.
Arashimuro
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I can’t see a favorable opening for a deal right now. Therefore, I’ll wait to see which of the variants is the right one.
Yesterday EUR/USD broke the negative series and recorded a successful first session of the last four. The euro rose by 20 pips to a closing price of 1.1344 after trading within the extreme values 1.1386 and 1.1323. Overall markets are waiting the meeting of the ECB, which is supposed to hint about further monetary stimulus including an increase in quantitative easing by year-end. Technical attitudes are neutral with immediate levels at 1.1315 and 1.1370.
Sherif Fares
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The market barely moved today.the EUR/USD is trading around the opening price.
victoriajensen
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I think it's more likely to start falling without a further move to the upside, but either way I wouldn't touch this pair before the fundamentals tomorrow.
The single currency remained without any significant changes against the dollar on Wednesday, and was trading at 1.1337 at the end of the session. Daily extreme values were reached in a relatively narrow range, respectively 1.1377 and 1.1334. All are waiting for Mario Draghi’s comments today that are expected to pull down the euro, given the recent deterioration of the German economy and deflation in the Eurozone. Technically pair remains under the sword 50-period moving average, but to reinforce negative attitudes need to break 1.1280. Technically the pair remains below the 50-period moving average, but a break of 1.1280 will reinforce the negative attitudes.
Yesterday the EURUSD opened below the 10-daymoving average and tried for the third time to stay above it but quickly failed thus giving all its gains back to the market with a narrow range, creating an inside day and close in the red near the low of the day.
Today is the main event of the week for the pair with the ECB Monetary policy statement and press conference later today, so we may expect some volatility.
The key levels to watch are 1.1460 (Resistance), the 10-day moving average at 1.1363 (resistance), the 50-day moving average at 1.1263 (support) and 1.1237 (support).
Today is the main event of the week for the pair with the ECB Monetary policy statement and press conference later today, so we may expect some volatility.
The key levels to watch are 1.1460 (Resistance), the 10-day moving average at 1.1363 (resistance), the 50-day moving average at 1.1263 (support) and 1.1237 (support).
victoriajensen
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Today's fundamentals finally ended the EUR/USD consolidation and the pair moved to the downside again. It broke below the support at 1.1160 and I expect that it will continue falling until it reaches the support at 1.0900.
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Sherif Fares
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That was a huge drop with the ECB press conference and interest rate deecision
The single currency recorded its worst performance against the dollar since January, losing over two figures during yesterday's session to a closing price of 1.1107. The pair traded at levels of one-month low at 1.1100, while the highest point was reached at 1.1350. The ECB left its monetary policy unchanged yesterday, but Draghi’s intention to continue with incentives later in the year dragged the euro. The price went below average values, while the index of relative strength hints oversold market. Confirmed break of 1.1080 will enable further decline.
Yesterday the EURUSD plunged 233 pips after the ECB Monetary policy statement and press conference. The pair made with a wide range day and closes in the red near the low of the day a few pips away of the 200-day moving average.
After yesterday strong downward move, today we may expect a small pullback.
The key levels to watch are 1.1237 (Resistance), the 200-day moving average at 1.1075 (support) and 1.0900 (support).
After yesterday strong downward move, today we may expect a small pullback.
The key levels to watch are 1.1237 (Resistance), the 200-day moving average at 1.1075 (support) and 1.0900 (support).
