|Day's Range||1.166 - 1.168|
|52 Week Range||1.1540 - 1.16827|
The Euro has continued to face headwinds versus the U.S Dollar short term. While range trading may prevail today, this will vanish as the U.S Fed’s monetary policy decision draws closer on Wednesday.
The Euro has been able to achieve noteworthy gains the past two days against the U.S Dollar, but trading volumes remain light and strong resistance looms ahead.
Wednesday is a FED day and all investors are waiting for the rate decision, statement and the economic projections from the FOMC. Obviously, all that is based on the technical analysis and it all can be easily canceled and declined by the FOMC. The support line is under the pressure recently and the buyers cannot create a bounce.
The Euro continues to experience headwinds in the short term as traders remain cautious due to knock-on effects from the Pound as political concerns remain about the Brexit. However, the Euro is intriguing moving forward and may find buyers who believe it should be valued higher.
Following it’s reversal from 1.1960 during early-week, the EURUSD recently dropped below an immediate TL support, which if sustained could further fetch the pair down towards 1.1755; though, it’s additional declines might be confined by the 1.1730-20 horizontal-region. Should sellers refrain to respect 1.1720 mark, the 1.1665 and the 1.1615 may entertain them, breaking which can drag the quote to 1.1550 support. In case if the pair reverses from current levels, the 1.1875-80 and the 1.1910 could restrict its near-term advances while an upward slanting TL, at 1. ...
USD/CHF It’s been nearly a fortnight since the USDCHF moves are confined within a 105-pip range of 0.9935 to 1.0040. However, pair’s repeated failures to clear the 1.0040, coupled with rising Geo-political uncertainty favoring CHF strength, support more of its downside than the otherwise at least for the short-term. Presently, the 0.9960 and the 0.9950 … Continue reading Important CHF Pairs’ Technical Checks: 08.11.2017
A Technical view of the market with the use of Harmonics Analysis Ahead of Thursday’s ECB meeting and with a crisis brewing in Spanish Catalonia the EUR is trading heavy or at significant resistance in some crosses which are worth watching for bearish reversals. EURUSD failed at the 50% retrace of the decline from the September … Continue reading EUR Pairs Heavy or at Resistance
The Backstory Tensions have been recently rising in Spain, particularly in the run-up to the Catalonia independence referendum. The Spanish constitution explicitly forbids such a referendum, but this didn’t stop the Catalans from trying to have it. The day of the referendum was a particularly eventful one, as the Spanish government tried hard to prevent it … Continue reading Will the Catalonia Effect Sink the EUR?
The USD/CHF pair bounced above 0.9669 the barrier as the downside attempts were repeatedly contained by strong support provided by top of thickening four-hour cloud reinforced by rising 50SMA. Near term techs regained bullish momentum on fresh rally, with probe above important 0.9698 resistance zone expected to generate fresh bullish signal on firm break above … Continue reading Morning Market Update – USD/CHF