Trading the EURUSD on August 9, 2013 22 ITM

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Choice!
    Free Trading Education!
    Free Demo Account!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!!!

EUR/USD (EURUSD=X)

Previous Close 1.081
Open 1.084
Bid 1.08
Day’s Range 1.078 – 1.084
52 Week Range 1.0655 – 1.1496
Ask 1.079

Stocks – Europe Pushes Higher; Virus Optimism Rises

European stock markets posted strong gains Monday, helped by signs of a slowdown in coronavirus-related deaths in the region, and by expectations of more financial aid to help bolster its battered economies. The broader-based Stoxx 600 Europe index climbed 2.6%. The number of deaths has fallen in recent days in Italy and Spain, the two European countries worst hit, as well as in Germany, the region’s most populous country.

Yen Begins to Feel Coronavirus Heat

The Japanese yen has seen selling Monday, with the country’s government expected to call a state of emergency in response to the coronavirus pandemic. The U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 100.685, largely flat, while EUR/USD rose 0.1% to 1.0823 and GBP/USD rose 0.1% to 1.2269. Japan has been relatively lightly hit by the spread of the coronavirus pandemic so far, registering just over 3,600 cases, according to Johns Hopkins University.

The Week Ahead – COVID-19 and OPEC in Focus, with Economic Data on the Lighter Side

While it is a shortened week, with economic data on the lighter side, there is still plenty for the markets to focus on and OPEC and COVID-19 in particular.

EUR/USD Weekly Price Forecast – Euro Has Rough Week

The Euro has had a rough week, slicing back down below the 1.08 level on Friday and wiping out most of the gains from the previous candle.

EUR/USD Price Forecast – Euro Falls Hard Yet Again

The Euro fell quite a bit during the trading session on Friday, reaching below the 1.08 level. Having said that, the market did stabilize a bit around the jobs figure, and therefore we could get a slight bounce.

Stocks – US Futures Lower; Economic Damage Mounts

Additionally, gold futures dropped 0.5% to $1,630.05/oz, while EUR/USD traded at $1.0808, down 0.5%.

EUR/USD Mid-Session Technical Analysis for April 3, 2020

Based on the early price action and the current price at 1.0800, the direction of the EUR/USD the rest of the session on Friday is likely to be determined by trader reaction to the uptrending Gann angle at 1.0816 and the short-term Fibonacci level at 1.0831.

EUR/USD Daily Forecast – Euro on Pace to Post Fifth Straight Day of Losses

EUR/USD dipped below the 1.0800 handle in early European trading on Friday and is down nearly 3% in the week thus far as the dollar has regained upward momentum.

Eurozone services PMI skids to worst-ever 26.4 in March

The IHS Markit eurozone services purchasing managers index in March slumped to a reading of 26.4 from 52.6 in February, the worst-ever reading in the history of the series. Any level below 50 indicates contracting conditions, and the final reading was worse than the flash reading of 28.4. In Italy, the services PMI fell to 17.4 in March, plunging from 52.1 in February. “The data indicate that the eurozone economy is already contracting at an annualised rate approaching 10%, with worse inevitably to come in the near future,” said Chris Williamson, chief business economist at IHS Markit.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Choice!
    Free Trading Education!
    Free Demo Account!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!!!

Dollar Still in Demand, For Now

At 3:05 AM ET (0705 GMT), the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, rose above 100 for the first time in over a week to stand at 100.460, up 0.2% on the day and up some 0.6% on the week.

Service Sector PMI and U.S Nonfarm Payrolls Put the EUR and USD in the Spotlight

Nonfarm payrolls and service sector PMIs are in focus today. With the West in shutdown mode, both labor market numbers and PMIs are expected to be dire…

EURUSD Outlook

Daily Pivots: (S1) 1.0769; (P) 1.0817; (R1) 1.0860; More…

Intraday bias in EUR/USD remains on the downside at this point. Deeper fall should be seen to retest 1.0635 low. Decisive break there will resume larger down trend. On the upside, above 1.0926 minor resistance will extend the correction from 1.0635. Intraday bias will be turned back to the upside for 61.8% retracement of 1.1496 to 1.0635 at 1.1167 again.

In the bigger picture, as long as 1.1496 resistance holds, whole down trend from 1.2555 (2020 high) should still be in progress. Next target is 1.0339 (2020 low). However, sustained break of 1.1496 will argue that such down trend has completed. Rise from 1.0635 could then be seen as the third leg of the pattern from 1.0339. In this case, outlook will be turned bullish for retesting 1.2555.

EUR/USD Weekly Outlook

EUR/USD’s fall last week suggests that corrective recovery from 1.0635 has completed at 1.1147, after rejection by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. Initial bias stays on the downside this week for retesting 1.0635 low first. Decisive break there will resume larger down trend. On the upside, above 1.0926 minor resistance will extend the correction from 1.0635. Intraday bias will be turned back to the upside for 1.1167.

In the bigger picture, as long as 1.1496 resistance holds, whole down trend from 1.2555 (2020 high) should still be in progress. Next target is 1.0339 (2020 low). However, sustained break of 1.1496 will argue that such down trend has completed. Rise from 1.0635 could then be seen as the third leg of the pattern from 1.0339. In this case, outlook will be turned bullish for retesting 1.2555.

In the long term picture, outlook remains bearish for now. EUR/USD is held below decade long trend line that started from 1.6039 (2008 high). It was also rejected by 38.2% retracement of 1.6039 to 1.0339 at 1.2516 before. On break of 1.0339, next target will be 100% projection of 1.3993 to 1.0339 from 1.2555 at 0.8901.

Euro/US Dollar (EUR/USD) Exchange Rate

EUR/USD Pivot Points

Name S3 S2 S1 Pivot Points R1 R2 R3
Classic 1.0810 1.0812 1.0814 1.0816 1.0818 1.0820 1.0822
Fibonacci 1.0812 1.0814 1.0815 1.0816 1.0818 1.0819 1.0820
Camarilla 1.0816 1.0816 1.0815 1.0816 1.0815 1.0816 1.0816
Woodie’s 1.0809 1.0812 1.0813 1.0816 1.0817 1.0820 1.0821
DeMark’s 1.0813 1.0816 1.0817

EUR/USD Advanced Live Chart

EUR/USD Advanced Live Chart

EUR/USD Advanced Live Chart

EUR/USD Exchange Rate

EUR/USD is the most popular pair for Forex currency traders worldwide and with good reason. Trading Euro to US dollar (or vice versa) gives currency traders the opportunity to make use of the world’s two largest economies and to take advantage of the volatility and liquidity intrinsic to this pair. Reviewing the EUR/USD chart on a consistent basis gives a clear picture of market trends.

The U.S. Dollar

The United States and the US dollar have a special role in the currency markets, as it has long been accepted as a reserve currency and the currency of choice for international monetary transactions.

The U.S. dollar is the world’s most heavily traded and most widely held currency. In fact, the United States is the largest national economy in the world, with a gross domestic product (GDP) of nearly $14 trillion. When economic activity in the United States is strong, the dollar strengthens and the EUR/USD exchange rate adjusts accordingly. When economic activity slows down, the dollar weakens. Because the United States is also considered a safe haven for assets of all kinds, the dollar tends to rise during times of political or global financial tumult.

EUR/USD Ratio

The European Union represents the world’s largest economic region with a GDP of more than $13 trillion. It follows that same pattern of responses to economic activity throughout the region as does the U.S. dollar. When economic activity in the European Union is strong, the euro strengthens; when economic activity slows, the euro will weaken. Despite the challenges that the region has experienced in recent years, or perhaps because of them, the currency remains a strong interest for currency traders worldwide.

A primary factor that influences the U.S. Dollar to Euro FX trading analysis is the relative strength of the two economies. One key sign of the relative strength of the two economies is the level of interest rates. When U.S. interest rates are higher than those of key European economies, the dollar generally strengthens. When eurozone interest rates are higher, the dollar weakens.

The EUR/USD chart will show another strong influence on the euro-dollar relationship-i.e. the political instability among the members of the European Union. If differences among the 16 European nations are serious or threatening, the dollar is will strengthen against the euro.

Taken together, the EUR/USD pair remains the most liquid currency pair, and its low bid-ask spreads contributes greatly to the EUR/USD’s popularity.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Choice!
    Free Trading Education!
    Free Demo Account!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!!!

Like this post? Please share to your friends:
Binary Options Trading Guide
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: