|Day's range||1.115 - 1.116|
|52-week range||1.0882 - 1.1571|
The Euro did very little during the day on Monday, as we continue to grind back and forth. The market is currently a bit overstretched, so I would not be surprised at all to see a bit of a pullback coming.
Based on the early price action and the current price at 1.1159, the direction of the EUR/USD the rest of the session on Monday is likely to be determined by trader reaction to the uptrending Gann angle at the same price. Additionally, a close under 1.1170 will form a closing price reversal top.
Investing.com - Sterling was under pressure on Monday after Speaker of the House of Commons John Bercow said there would be no vote on the latest Brexit deal as Prime Minister Boris Johnson had hoped.
EUR/USD pushed higher in early trading, in an attempt to post a fifth consecutive day of gains. The next area of upside interest falls near 1.12.
It’s too early to tell if the reaction we are seeing early Monday will hold true throughout the week, or if this is just the calm before the storm. It’s no surprise that the British Pound and Euro are trading lower since they will be the currencies most affected by the Brexit news. The mild price action suggests light position-squaring is taking place. The moves in the Yen, Franc, gold and Treasurys suggests investors aren’t too concerned about the weekend events at this time.
Investing.com - The British pound fell against the U.S. dollar on Monday in Asia after U.K. Prime Minister Boris Johnson failed to win parliamentary backing for his divorce deal.
It’s another big week for the global financial markets, Corporate earnings, Brexit, trade and economic data in Focus. It’s also Draghi’s last media show…
The Euro has had a strong week as we head towards the significant 1.12 level. The 50 week moving average is just above there, and therefore it’s possible that we could see a selling opportunity. That being said though, it looks as if traders will need to be taken on the daily chart.
The Euro rallied a bit during the trading session on Friday, grinding towards significant resistance just above. This has been a nice move, but not exactly unprecedented as we have seen this happen several times over the last 18 months.
The early price action suggests the upside bias should strengthen on a sustained move over 1.1139. A downside bias will develop on a sustained move under 1.1115.
Investing.com - The U.S. dollar was lower against other currencies on Friday, while the euro was buoyed by hope that a Brexit deal will help mitigate risks of a recession in the bloc.
EUR/USD extended higher on Thursday to post a third consecutive day of gains. The pair is underpinned by hopes that the UK will leave the EU in an orderly fashion and expectations for a Fed rate cut later this month.
While China’s economy slowed in the 3rd quarter, things could have been much worse. Relief all round as focus now shifts to Brexit…
The Euro rallied significantly during the trading session on Thursday again, perhaps in hopes of a Brexit deal finally coming to light. However, we are still within the range between the 50 day EMA and the 200 day EMA, where the market has found sellers for 18 months.
Recent rotation in multiple foreign currencies hints at the fact that a new stage of the “Capital Shift” process is taking place and that skilled technical investors need to pay very close attention to how these currencies continue to react over the next 3 to 6+ months. In the recent past, most of the world’s foreign currencies were declining in value while the US Dollar continued to strengthen. In fact, we authored many research articles about these trends and how weakness in foreign currencies will drive new foreign investment into the US stock markets for two simple reasons; strength and security.
Based on the early price action and the current price at 1.1113, the direction of the EUR/USD the rest of the session on Thursday is likely to be determined by trader reaction to a pair of Gann angles at 1.1117 and 1.1119.
Investing.com - The U.S. dollar remained tepid on Thursday, while sterling tried to hold onto earlier gains after reports that the U.K. and European Union had reached a Brexit deal.
EUR/USD broke to a fresh one-month high as investors see a higher chance of a Brexit deal while US data continues to signal weakness in the economy.
The U.S. equity markets were a tad weaker Wednesday, and 10-year bond yields fell as the market s were left interpreting the inconsistent news out of the U.S.: weak retail headlines for September but upbeat earnings report, with Bank of America, reporting growth in investment-banking fees.
The Euro has rallied a bit during the trading session on Wednesday as we continue to consolidate around the technically important 50 day EMA. At this point, the market looks likely to see a lot of confusion, especially as the European Union still deals with Brexit.
Based on the early price action, the direction of the EUR/USD the rest of the session on Wednesday is likely to be determined by trader reaction to the downtrending Gann angle at 1.1053 and the Fibonacci level at 1.1055.
Investing.com - The U.S. dollar was lower on Wednesday as retail sales fell for the first time in seven months in September, increasing chances of the Federal Reserve cutting interest rates later this month.
After briefly dipping lower on Tuesday below the 1.10 handle, EUR/USD has recovered and made another attempt at the 50 DMA, boosted by optimism over an orderly Brexit.