|Day's range||133.476 - 133.195|
|52-week range||129.7884 - 133.195|
The Euro continues to experience headwinds in the short term as traders remain cautious due to knock-on effects from the Pound as political concerns remain about the Brexit. However, the Euro is intriguing moving forward and may find buyers who believe it should be valued higher.
Traded volume is in line with the monthly average, and the neutral trader’s sentiment stands at 11% short. Trading has been slow, and the neutral trader’s sentiment stands at 5% long. This pair sees a quarter less funding than usual, and the sentiment is neutral at 8% short.
Dollar Index maybe does not show it perfectly as its mostly made from EUR so another strong currency but the USDJPY is definitely bullish. Ahead of this important event for the markets, the USDJPY is giving some bullish signals. After that, buyers managed to break a very important horizontal resistance on the 113.10 (grey) and later used that as the closest support.
The US Dollar strengthened during the previous week on US tax reform and Friday’s non-farm payrolls data showed the economy created more jobs than expected in November.
There’s red across the table for the Euro/Dollar, which sees 6 sell prompts in both the short and long-term and no less than 7 bearish signals in the mid-term, but, in contrast, the interbank is neutral at less than 12% long. Dollar/Yen has bullish models prevailing in all three time ranges, with 6 buy prompts in the short-term, 7 in the mid-term and 5 in the long-term, and they indeed are in line with the more than 23% long interbank. Pound/Yen also has green signals dominating across the chart, as it sees 5 buy prompts in both the short and long-term and 7 in the mid-term, but they are not supported by the interbank, which is neutral at less than 11% long.
The Euro’s relative tranquility the past two days may be positive for traders. Two key risk events will take place next week, the U.S Fed interest rate decision, and the U.K and E.U Brexit Summit. These events could be a positive lynchpin for the Euro.
The Yen has weakened in recent trading against the U.S Dollar as risk appetite has not entirely disappeared among Asian traders. If U.S equities produce gains in the short-term, Japanese equities may see additional buying too, which could spark further Yen weakness.
The Cable sees 5 neutral indicators on its 1-hour chart, while bullish signals prevail on the 4 and 24-hour charts. As to the interbank, it is neutral at less than 4% long, matching the short-term models. Next up is the Dollar/Yen with 5 and 6 bullish signals on its short and mid-term charts, respectively.
Following it’s reversal from 1.1960 during early-week, the EURUSD recently dropped below an immediate TL support, which if sustained could further fetch the pair down towards 1.1755; though, it’s additional declines might be confined by the 1.1730-20 horizontal-region. Should sellers refrain to respect 1.1720 mark, the 1.1665 and the 1.1615 may entertain them, breaking which can drag the quote to 1.1550 support. In case if the pair reverses from current levels, the 1.1875-80 and the 1.1910 could restrict its near-term advances while an upward slanting TL, at 1. ...
Praised be Jesus Christ, traders, you’re watching the Primary Daily Trading Signals for Thursday. Bullish at more than 15% long, the interbank confirms the short-term studies. The mid and long-term charts see 5 and 6 buy prompts, respectively, but the interbank is neutral at less than 1% short, matching the 1-hour technicals.
The Euro has beaten off short-term headwinds and resumed its high-water marks against the U.S Dollar as it approaches mid-term values. The potentially good political news may come from Germany regarding a coalition. The Euro is above the 1.19 level against the U.S Dollar and the question all speculators want to receive an answer for – is if the Euro can hold onto these marks and build a foundation for further gains?
Political elements will prove strong this week as Washington handles tax reform, the U.K deals with the Brexit and Germany negotiates coalition talks. OPEC will conduct production meetings mid-week. Dynamic trading should be expected via impact from developments surrounding these political elements.
After slumping recently, the Euro has made a remarkable recovery last week against its US counterpart on the back of strong data from the Eurozone and worries over the number of rate hikes to be delivered from the US Federal Reserve over the coming year. This is a very broad-based looking upturn,” said Chris Williamson, a chief business economist at IHS Markit. An even bigger boost for the Euro against the US dollar this week was the latest Minutes meeting from the US Federal Reserve, where many Fed board members raised concerns on the number of rate hikes that need to be delivered over the next 13 months.
The US Dollar fell during the previous week after the Fed released its meeting minutes which was interpreted as extremely dovish by traders and investors.
You’re watching the Primary Daily Trading Signals for Friday. Here’s how the interbank lines up with the technicals at 8 AM GMT. Euro/Dollar sees 5 neutral models in the short-term, but the mid and long-term scales turn bullish with 5 and 7 studies, respectively, and they are in line with the more than 17% long … Continue reading Forex Trading Signals – November 24, 2017
Euro/Dollar has seen its trend change, walking in a total range of 38 pips. Traded volume is low and sentiment of the market players is neutral, 10% Short. Both sides have seen only limited profit chances due to the narrow price movement range and slow trading approach. Pound/Dollar’s rate movement is flat and the pair … Continue reading Midday Forex Snapshot – November 22, 2017
You’re watching the Main Daily Trading Signals for Wednesday. Here’s how the interbank compares with the technicals at 8 AM GMT. Euro/Dollar is overwhelmingly bullish in the short-term. The mid-term is divided between green and neutral signals, and the daily outlook turns neutral with 5 models, matching the less than 13% long interbank. The Cable … Continue reading Forex Trading Signals – November 22, 2017
Euro/Dollar shows little rate movement, high and low difference is just 44 pips, but the pair sees a typical amount of funds. The sentiment of the traders is bearish, most have been forecasting the pair to head lower. The flat rate movement suggests no significant profits or losses are likely. Pound/Dollar declined by 59 pips, … Continue reading Midday Forex Snapshot – November 21, 2017
Find out how the interbank compares with the technicals at 8 AM GMT. These are the Main Daily Trading Signals. Euro/Dollar sees 4 neutral signals in the short-term. The mid-term is split between red and neutral models, and the long-term is back to neutral. The interbank is neutral as well at 13% long, matching the … Continue reading Forex Trading Signals – November 21, 2017
Forex markets have responded to the political turmoil in Germany with volatility early, but have seen the Euro and Pound regain some equilibrium. Angela Merkel’s attempt to create a government failed this weekend in Germany. ECB President Draghi will speak today. US Futures Flat, Light Data from the U.S Today Wall Street went into the … Continue reading German Turmoil and US Tax Reform Weigh on Markets, Bitcoin Breaks $8100
The Euro has seen a vast amount of turbulence today and is likely to remain fast as political developments from Germany sweep into forex. Technical trading will likely be impactful over the coming days as the Euro tries to find an equilibrium. German News Challenges Traders Short-term traders of the Euro are literally swimming among … Continue reading Euro Traders Swimming with the Sharks
Good Monday morning, the team is here with this week’s first Main Daily Trading Signals. Euro/Dollar sees 5 neutral signals on its hourly chart. The mid-term is mostly bearish and the long-term is back to neutral. The interbank is neutral as well at less than 14% long, matching the 1 and 24-hour models. The Cable … Continue reading Forex Trading Signals – November 20, 2017
The US Dollar closed the previous week lower on tax reform uncertainty and worries over the Mueller probe. U.S. Dollar Index finished the week at 93.57, down -0.75%. In the week ahead, investors will closely watch: RBA minutes on Tuesday at 00:30 GMT FOMC minutes on Wednesday at 19:00 GMT UK GDP on Thursday at 9:30 GMT EUR/USD … Continue reading Weekly Forex Technical Analysis, Nov 20 – Nov 24, 2017
It’s time for Friday’s Daily Trading Signals. Here’s how the interbank sentiment compares with the technical studies on this last day of the trading week. Euro/Dollar’s short term models are mostly neutral. Mid term brings 4 sell prompts and daily scale is mixed. Interbank sentiment is neutral at less than 15% long, just like the … Continue reading Forex Trading Signals – November 17, 2017