EUR Trading Outlook
The AUD: More bids staggered down from 0.9310 to 0.9245 but technical point noted bounce off underside of weekly cloud last week initimates weakness. For now, Current support of 0.9290-0.9310 havn't been tested yet, a break below there will lead more bears jump in.
EUR/USD: EUR finished up the Noram sessione ssentially at the same price as the day before (1.3815), complteing a round trip to a high of 1.3865. With better U.S data and more Euro QE program, bears were only able to do some scratches on the EUR.
AUD/USD: Pivot at 0.9325. Support at 0.9325, 0.9290 and 0.9250. Resistances at 0.9425, 0.9460 and 0.9495. Range trading still in play, for AUD bears, a break of 0.9325 is needed for more confirmation on the downside.
EUR/USD: Decent industrial production data helped the EUR/USD rally, however push was limited by the 200 HMA at 1.3808ish despite repeated attempts lower. Liquidity is drying up as the holiday weekend approaches and as most traders don't find EUR all that compelling right here.
AUD/USD: Oz slumped to 0.9337 lows before recouping lost ground, heads to the close 0.9352 after bounced off 200-HMA. Support at 0.9325 and 0.9290 zone. Market awaits for Chinese data due in 02:00GMT.
EUR/USD: The pair had been going both ways throughout Europe and NY sessions. The pair held repeated attempts to break the 200 HMA at just under 1.3800, further frustrating the bears that have all but packed it in for the holiday weekend. For now, the pair seems to be unsteady, better wait for further data for better indication on the pair.
The AUD/USD: Given the strong USD was unable to push the AUD lower, the pair remains in an uptrend. Pivot point at 0.9375, Support at 0.9375, 0.9330 and 0.9290. Resistance comes in at 0.9430 and recent high of 0.9460.
EUR/USD: Europe and NY session continued to sell the EUR/USD on ECB's comment in the weekend. However, NY make sure they do not fall into the short squeeze trap that killed them these past few weeks and maintained cautiously around 1.3808/1.3833 range. Market wait for more signals from ECB and also tensions in Ukraine picks up again.
AUD/USD: Thursday's shooting star candle saw downside follow through today and the daily RSI begin to roll over from overbought territory. Last week's rally stalled at the base of the weekly cloud. These signals may mean a s-t pullback for the pair is needed.
EUR/USD: Last week, EUR/USD managed to push to a high of 1.3906, however, the rally faded as JPY strength pushed EUR/JPY from 131.56 towards 140.65. In the weekend, ECB stated that the stronger the EUR the greater the need for monetary action. A doji formed on the daily chart and it occurred at the 76.4 Fib of 1.3967-1.3672. At the same time daily RSI hasn't confirmed the new trend high. A pullback for the pair may be due. Good support sits in 1.3805/20 area, bulls remain in charge above that level.
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