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General EURUSD Chart Analysis

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CDO Markets

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•The Euro finished the week on a higher note, following the release of a soft inflation report in the United States, as informed by the Department of Labor October’s CPI report. Therefore, the Euro continued its advance, as the EURUSD gained 1.42%, exchanging hands at 1.0352.
•Wall Street finished the week with solid gains. The US inflation report on Thursday showed that core CPI, closely followed by the Federal Reserve, eased from 6.6% YoY in September to 6.3%, well below estimates. Meanwhile, the University of Michigan (UoM) Consumer Sentiment for November tumbled to a four-month low from 59.5 to 54.7, as reported on Friday. Delving the UoM poll, inflation expectations for the one-year horizon increased to 5.1%, while the five to 10-year horizon jumped from 2.9% to 3%.
•Aside from this, a tranche of European Central Bank (ECB) policymakers crossed newswires and kept its hawkish stance, bolstering the Euro. ECB member Robert Holtzman said he would vote for a 50 or 75 bps hike at the December meeting, while the ECB Vice-President Luis De Guindos said that a technical recession in the Eurozone is likely, and added that markets overreacted to US CPI.
•The EUR/USD pair is trading near the 1.0352, up for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0370, break above this level will extend the advance to 1.0500.
•Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midlines and stabilized around 68. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0200 and below this level will open the gate to 1.0100.

14-11EURUSD-D.png
 

CDO Markets

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•The EURUSD pair erased intraday losses after climbing back to the 1.0350 zone. Earlier the pair bottomed at 1.0270 but then the Greenback lost momentum across the board, triggering the rebound.
•The Dollar pulled back during the American session even as US yields moved higher. The US 10-year stands at 3.89% and the 2-year at 4.43%. Equity prices in Wall Street are moving off highs. In the Eurozone, data released on Monday showed a bigger-than-expected increase in Industrial Production. On Tuesday, data to be released includes Q3 employment, GDP and confidence.
•EURUSD holds onto most of recent gains that followed the release of the October US Consumer Price Index that boosted expectations of a less aggressive Federal Reserve. On Tuesday, the Producer Price Index is due and could impact markets. More signs of a slowdown in inflation could weigh further on the dollar, while the contrary could prompt a steep correction of the dollar.
•The EUR/USD pair is trading near the 1.0350, unchanged for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0370, break above this level will extend the advance to 1.0500.
•Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midlines and stabilized around 68. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0270 and below this level will open the gate to 1.0200.

15-11EURUSD-D.png
 

CDO Markets

Member
  • EURUSD is battling back, down some 0.5% still, however, having fallen from a high of 1.0406 to a low of 1.0305. US Treasury yields increased on Thursday as investors bet on a relatively hawkish Federal Reserve.
  • The greenback was pressured in recent days due to last week's and this week's inflation data missing the mark vs. expectations. This had fanned the flames of the expectations of a Fed pivot while some of the Federal Reserve commentaries that accompanied the data implied that it could soon slow the pace of its interest rate hikes. However, a switch in sentiment on Thursday gave rise to a bid in the greenback once again.
  • Consequently, it was a bearish start to the day with US benchmarks in the red, US yields higher along with a firmer US Dollar. The dollar index, which measures the currency against six major peers, was recently up 0.50% at 106.81 in midday trade. The index has traveled between a range of 106.098 and 107.240 on the day. However, the index remains in bearish territories while below 107.00. After hitting a 20-year high in late September the index had lost more than 8% when it touched its most recent intraday low on Tuesday.
  • The EUR/USD pair is trading near the 1.0360, down for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0480, break above this level will extend the advance to 1.0600.
  • Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midlines and stabilized around 68. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0270 and below this level will open the gate to 1.0200.
18-11EURUSD-D.png
 
We can see on the chart the price formed a small bullish Pin bar on Monday and the price started to move to a higher level.

The price broke above $1.01368 on Tuesday, but the price returned back down.

I am expecting the price to move down slightly, around $1.02000 or above, and continuing to move up.
EURUSD Daily Forecast 19_11_2022..png
 
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CDO Markets

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  • The EURUSD rejected by 1.0400 area again and fell during the American session to 1.0325 level, on a calm session across FX markets. The greenback spiked higher amid a deterioration in market sentiment that did not last much.
  • Economic data released on Friday showed Home Sales in the US dropped for the ninth consecutive month in October. The annual rate fell from 4.71M to 4.43M, above the 4.38M of market consensus. The numbers did not impact markets. The DXY is posting modest weekly gains after more signs of a slowdown in inflation and better-than-expected retail sales numbers.
  • Next week key events include the FOMC minutes on Tuesday. US markets will not open on Thursday due to Thanksgiving Day. November Flash PMIs are due on Wednesday. The European Central Bank will release the minutes of the latest meeting on Thursday.
  • The EUR/USD pair is trading near the 1.0325, down for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0480, break above this level will extend the advance to 1.0600.
  • Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midlines and stabilized around 64. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0270 and below this level will open the gate to 1.0200.
21-11EURUSD-D.png
 

CDO Markets

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  • EUR/USD maintains the corrective downside well in place for yet another session and threatens to challenge the key support around the 1.0200 neighbourhood sooner rather than later.
  • Indeed, in quite an uneventful session, the Greenback extends the recent bounce backed by the recent hawkish message from some Fed speakers, which lent renewed oxygen to both the buck and yields, while at the same time mitigated the optimism around a potential Fed pivot. Earlier in the calendar, German Producer Prices contracted 4.2% MoM in October and rose 34.5% vs. the same month of 2021. In the US data space, the Chicago Fed National Activity Index dropped to -0.05 in October
  • In the meantime, the European currency is expected to closely follow Dollar dynamics, geopolitical concerns and the Fed-ECB divergence. In addition, markets repricing of a potential pivot in the Fed’s policy remains the exclusive driver of the pair’s price action for the time being.
  • The EUR/USD pair is trading near the 1.0240, down for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0300, break above this level will extend the advance to 1.0400.
  • Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midlines and stabilized around 57. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0200 and below this level will open the gate to 1.0100.
 

CDO Markets

Member
  • At 1.0295, EUR/USD is 0.53% higher in late trade in North American trade as the US Dollar retreated across the board on Tuesday while investors look past worries about China's COVID flare-ups, boosting demand for more risky currencies.
  • The greenback edged lower on Tuesday amid the better performance of global equities and weaker US Treasury yields. Activity, however, was limited ahead of the FOMC Meeting Minutes and US Durable Goods Orders to be out on Wednesday.
  • Asian and European indexes closed in the green, while Wall Street posted substantial gains, adding the most in the final hours of trading. On the other hand, US Treasury yields edged lower with the 10-year note yield down 7 bps to hover around 3.75%, and the 2-year offering 4.51% barely down for the day.
  • The EUR/USD pair is trading near the 1.0295, up for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0310, break above this level will extend the advance to 1.0400.
  • Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midline and stabilized around 61. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0200 and below this level will open the gate to 1.0100.
 

CDO Markets

Member
•The EUR jumped against the US Dollar USD following the release of the Federal Reserve (Fed) monetary policy minutes showed that policymakers agreed to slow the pace of rate hikes at the Federal Reserve’s (Fed) November meeting. At the time of writing, the EUR/USD is volatile, trading at around 1.0400.
•As mentioned above, Fed officials agreed to slow the rate hikes spurred US Dollar weakness, as the EUR/USD advanced towards its daily high of 1.0400. Furthermore, policymakers expressed that monetary policy is approaching a “sufficiently restrictive” level, acknowledging that the Federal Funds rate (FFR) peak is more important than the rate itself.
•Officials expressed a high level of uncertainty about the peak of the FFR. However, several predicted interest rates would peak at a higher level, as the Federal Reserve Chairman Jerome Powell expressed at the monetary policy press conference. In the meantime, money market interest-rate futures odds for a 50 bps hike increased to 79% in the December meeting after the release of the FOMC minutes.
•The EUR/USD pair is trading near the 1.0400, up for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0400, break above this level will extend the advance to 1.0480.
•Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midline and stabilized around 66. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0300 and below this level will open the gate to 1.0200.

24-11EURUSD-D.png
 

jay123

New Member
•The EUR jumped against the US Dollar USD following the release of the Federal Reserve (Fed) monetary policy minutes showed that policymakers agreed to slow the pace of rate hikes at the Federal Reserve’s (Fed) November meeting. At the time of writing, the EUR/USD is volatile, trading at around 1.0400.
•As mentioned above, Fed officials agreed to slow the rate hikes spurred US Dollar weakness, as the EUR/USD advanced towards its daily high of 1.0400. Furthermore, policymakers expressed that monetary policy is approaching a “sufficiently restrictive” level, acknowledging that the Federal Funds rate (FFR) peak is more important than the rate itself.
•Officials expressed a high level of uncertainty about the peak of the FFR. However, several predicted interest rates would peak at a higher level, as the Federal Reserve Chairman Jerome Powell expressed at the monetary policy press conference. In the meantime, money market interest-rate futures odds for a 50 bps hike increased to 79% in the December meeting after the release of the FOMC minutes.
•The EUR/USD pair is trading near the 1.0400, up for the day with bullish stance in daily chart. The pair stabilized above 20 and 50 SMA, indicates bullish strength. Meanwhile, the 20 SMA continued accelerating north and developing above longer ones, suggests bulls not exhausted yet. On upside, the immediate resistance is 1.0400, break above this level will extend the advance to 1.0480.
•Technical readings in the daily chart support the bullish stances. The RSI indicators hovering above the midline and stabilized around 66. The Momentum indicator stabilized above the midline, indicating upward potentials. On downside, the immediate support is 1.0300 and below this level will open the gate to 1.0200.

View attachment 23248
I've got a short position with a target of 1.0320 although once it hits that I'm likely expecting it to continue its uptrend. Looking at the US stock market sectors with inflows this week it looked like more of a risk off/flight to safety week. Bulls are looking for any slight reason to buy
 
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The price continued its move to $1.02669 on Monday, but since Tuesday the price was forming bullish candles.

The price reached the demand zone around $1.02669 where we have a confluence of support and from there the bulls pushed the price upwards.

The next level for the bulls is at $1.05087 where we have small daily resistance, but the final target is $1.05825 which is the weekly and monthly target.

So, we have almost 200 pips free area to reach from the current level in the next week and then the price could stop because there is stronger resistance in front.
 
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