|Day's Range||1.137 - 1.145|
|52 Week Range||1.1302 - 1.2558|
The Euro fell during most of the week but bounced enough towards the end of it to turn around and show signs of life. The hammer is right at the very bottom of the overall support range, and I think that perhaps people are starting to look beyond the whole Turkish situation.
Based on the early price action, the direction of the EUR/USD on Friday is likely to be determined by trader reaction to the uptrending Gann angle at 1.1381.
The Euro rallied slightly higher during the Thursday’s session reaching towards the 1.14 level but due to the presence of strong resistance above, the market rolled over a bit. The British Pound initially tried to rally above the 1.12750 level in the yesterday’s session but failed in its attempt and rolled over. The AUD rallied during the yesterday’s session but later in the day sellers are seen getting involved pushing the price lower.
The EUR/USD has formed a bullish Head and Shoulders pattern with the right shoulder being within 1.1350 zone. If the price closes above the trend line, it will mean a potential breakout to the upside targeting 1.1477. However if the price breaks below 1.1330, we could see a retest of 1.1300 with a potential for a further break lower
The Euro rallied slightly during Asian trading but started to roll over as soon as he got close to resistance in the form of the 1.14 handle. I think that the market is probably still going to roll over, and nothing will change until the Turkey situation is settled.
While inflation numbers are due out of the Eurozone and Canada, it’s all eyes on the U.S Dollar, with the markets getting ready for U.S – China trade talks.
Investing.com - The dollar was flat against its rivals Thursday, pressured by a bout of mixed U.S. economic data and improving risk sentiment after the U.S. confirmed trade talks with China would resume.
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at 1.1388.
Investing.com - The dollar eased against a basket of the other major currencies on Thursday, but was supported near 14-month highs amid ongoing concerns over Turkey's currency crisis and fears of an economic slowdown in China.
The market is likely to get a bounce from here but will not be a significant one as the negative sentiment still dominates the market. If the market breaks below the 1.27 level, then it will unwind rapidly towards its next psychologically important level, the 1.25 level.
EUR/USD rebounds from 13-month lows as major global currencies including EURO got a bullish boost in Asian market hours on news of Sino-US Trade talks.
The Euro drifted a bit lower during the trading session on Wednesday, reaching down towards the vital 1.13 level as I record this video. The market of course has respected the large, round, psychologically significant number so far.
The Dollar slides early, with the Asian equity markets rebounding from heavy losses early as hopes of a U.S – China agreement on trade surface.
Investing.com - The dollar steadied against its rivals at 13-month highs Wednesday, but gains were limited by rising demand for safe-haven yen on fears turmoil in Turkey could spill over into other markets.
Based on the current price, the direction of the EUR/USD into the close is likely to be determined by trader reaction to yesterday’s close at 1.1343. The main trend is down according to the daily swing chart. However, today’s session began with the EUR/USD in the window of time for a closing price reversal bottom.
Investing.com - The dollar rose to 14-month highs against a currency basket on Wednesday, as fears over the impact of Turkey's currency crisis and global trade tensions bolstered safe haven demand.
The EUR/USD dipped way below M L5 Pivot ( Strongest Monthly Support) and currently it is below the Weekly L3 pivot. This indicates a strong downtrend with a potential for further bearish pressure. Only a close above 1.1350 might initiate a bullish correction towards POC (1.1420-30) and POC 2 (1.1470-1.1508). However further weakness is likely as the price should reject from any of POC zones. Additionally a break below 1.1316 targets 1.1279, Weekly Support level. This breakout could happen even before any retracement to POC zones.
Investing.com - The dollar was trading near 13-month highs against a currency basket on Wednesday amid fears over contagion effects from Turkey's financial crisis, while the Turkish lira rallied after Ankara hit the U.S. with fresh tariffs.
EURUSD declines for fourth consecutive trading session as CNY hits new lows while Turkish crisis weighs down EURO amid strong US Greenback
The Euro has of course continue to struggle with the situations in Turkey, as there is contagion fears of European banks, especially in France and Spain, being so heavily exposed to Turkish debt. However, we did get a little bit of a reprieve during the trading session.
Inflation numbers out of the UK will need to jump to hit pause on the Pound’s demise, while U.S retail sales could influence a resurgent Dollar.
Early Wednesday, the EUR/USD is trading flat. We’re looking at the possibility of three developments today. Firstly, we could see a steady opening, followed by a higher trade. This will indicate that buyers are coming in to defend yesterday’s low at 1.1331. Secondly, sellers could return, taking out 1.1331 in the process and continuing the downtrend. Due to the prolonged move down in terms of price and time, we could see a third development. This would involve taking out yesterday’s low at 1.1331 then closing back above yesterday’s close at 1.1343
Investing.com - The dollar rose against its rivals to an 18-month high Tuesday, supported by a slump in the euro as concerns over Turkey's vulnerable economy persisted despite a rebound in the lira.