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KostiaForexMart  
#821 Posted : Friday, August 09, 2019 8:48:15 AM(UTC)
KostiaForexMart


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Joined: 3/22/2019(UTC)
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Germany

EUR/USD Daily Analysis: August 9, 2019

A tweet of US President Trump has once again spiked volatility but trading of EUR/USD pair still remains in the range. He remarked his disappointment in the strength of the dollar due to higher rates than other nations. Looking at the news, three central banks in India, New Zealand and Thailand had reduced their interest rates with 35, 50 and 25 basis points, respectively.

German trade balance and French industrial production data came out less than expected at the earlier part of the day, although this did not really have an impact on the trading. Another report on the producer price index will be released at the US session. Although, it doesn’t usually bring volatility.

Yesterday the euro major pair remains strong as it did not go down with just right significant resistance confluence.

The support level of 1.1188 keeps the pair from moving higher so far. Closing above this level today could lead to a reversal morning star candlestick on the weekly chart. Hence, the bidding of the pair will likely continue until next week.

Moreover, it is logical for the pair to continue range-bound trading given the quiet economic calendar.

As we noted earlier, the resistance is important while the 200-MA moves in a descending trendline on the 4-hour chart. But at the same time, the 50- and 100-MA are also considered important.

Overall, the euro major pair will persist to trade within the range and probably attempt to hold the pair prior to the upcoming trading session. The pair is likely to have a reversal pattern on the weekly chart.
Regards, ForexMart PR Manager
KostiaForexMart  
#822 Posted : Wednesday, August 14, 2019 9:43:13 AM(UTC)
KostiaForexMart


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Germany

EUR/USD Daily Analysis: August 14, 2019

Given the volatility in the markets, the decline of the common currency markets is nothing compared to the volatility across the markets. Risky assets rose after Trump announced postponing the imposition of 10% tariff on Chinese goods. Nonetheless, the euro major pair keeps in range over a week.

The GDP growth dropped by 0.1% in the second quarter, meeting analysts’ expectations. However, this does affect much the rate. Data from Europe came out softer than anticipated, which resulted in the EUR/USD pair to ease lower.

It seems that the short-term trading of the EUR/USD pair is headed downward after several attempts on the resistance above.

Meanwhile, let us take into consideration a reversal candlestick on the weekly chart after a rally last week. This trend keeps purchases on a decline.

The pair is trading between the 100- and 200-MA on the 4-hour chart. Yet, the range remains strong even if it slightly weakened. A horizontal level is found close to the 100-MA at 1.1155. The horizontal level acted as a resistance before and a slight confluence was formed.

There is still a strong level around 1.1118, which was tested several times this year. If the pair is able to move lower, this level plays strongly for a decline. Yet, even if there are fundamental news that affects the market, the euro major pair manages to remain in range. Meanwhile, dips can still be bought considering the reversal pattern on the weekly chart.
Regards, ForexMart PR Manager
KostiaForexMart  
#823 Posted : Friday, August 16, 2019 8:42:54 AM(UTC)
KostiaForexMart


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Germany

EUR/USD Daily Analysis: August 16, 2019

A bullish morning star pattern was seen after the surge of the EUR/USD pair last week. Yet, the significant support level of 1.1118 is not yet established, which means that the bears can be in control of the movement. This area is important as this held various declines for this aside from a short drop below in latter days of July.

On Thursday, US economic data was released that shows better than forecast that supports the US dollar. Retail sales grew by 0.7% in July, more than the 0.3% forecast of an increase. This excludes the automobile and gas, which then prompted the data to increase by 1.0%.

Trade balance from Eurostat is also to be released soon. Also, there is the consumer sentiment and building permits from the United States. Although, there are not likely to keep the impact on the exchange rate.

The significant level of EUR/USD pair was broken and there will also be not many purchases. Moreover, the pair begins to enter the oversold zone on the 4-hour chart.

The support level is around the area of 1.1075, which makes the lowest close on a daily basis for the year. Moving forward, the next probable target is around 1.1027, which was the August low.

It is not likely for the pair to break again for another fresh yearly low today, considering few expected fundamental events on the economic calendar.

Closing of the pair today is relevant. If the pair manages to keep the current levels, there will be a reverse bullish trend of last week’s reversal pattern. More importantly, this will confirm the resumption of the EUR/USD downtrend.

The overall momentum of the EUR/USD pair is downward, although the pair begins to oversell on the 4-hour chart. In comparison to a basket of major currency pairs, the common currency is likely to have its biggest loss. Yet, even if there is a light economic schedule, the news may induce some volatility in the pair.
Regards, ForexMart PR Manager
KostiaForexMart  
#824 Posted : Tuesday, August 20, 2019 8:53:51 AM(UTC)
KostiaForexMart


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Germany

EUR/USD Daily Analysis: August 20, 2019

The euro major pair faces pressure for the whole week but still, the dollar strengthened as the DXY index rises higher than the resistance. It was able to close higher than 98.25 daily level, which was the same level that kept the price lower in April and May and almost close to the two-year high.

Although the decline is not purely because of the EUR/USD pair as the euro is pressured against major currencies over the past week. Market's attention will then shift to the upcoming Fed meeting on Wednesday. For now, there is the PPI from Germany which is expected to come out higher than the forecast.

The levels of 1.1075 (upper) and 1.1118 (lower) were important yesterday. The previous level was kept as sellers entered the market prior to reaching the latter level, which also limited the recovery. The price movement shows weakness, especially in an attempt to test again the support level today.

Moreover, it is important to see how far the pair can go and if it will reach a fresh new yearly low prior to the Fed meeting tomorrow. Thus, it may not be wise to push the price lower in the current condition.

At a later session, we can expect resistance to continue around 1.1118 amid a rally. It needs to reach the level higher in changing the short-term direction of the pair.

A breakdown at 1.1075 opens the yearly low at 1.1027. If it successfully moves lower than 1.1027 today, then we might encounter some stops. In spite of that, the pair might have a difficult time to break the level and keep the flow without a specific driver to cause such movement.

There are not many events to look out for in the economic calendar prior to the expected Fed meeting on Wednesday.
Regards, ForexMart PR Manager
KostiaForexMart  
#825 Posted : Thursday, August 22, 2019 9:38:22 AM(UTC)
KostiaForexMart


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Posts: 59
Germany

EUR/USD Daily Analysis: August 22, 2019

In the beginning, the market reaction induced volatility. However, the euro major pair kept the pair in range and was ahead for the week. At the same time, the future markets have revised lower their expectations for further reduction. Although, they have already priced in another cut in September.

The result of PMI data has kept strong bidding at the beginning of Thursday trading. Other data including the Manufacturing and Services PMI figure of France, Germany, and the Eurozone came out better than expected by analysts.

The euro major pair rallied upward outside its most recent range amid the release of data and prior to losing a bit of its strength.

In the technical analysis, the EUR/USD support level is at 1.1074, which was the lowest daily close in 2019. Also, the US dollar index (DXY) begins to pull back from the resistance level of 98.25.

If the pair keeps the price higher than the support level, then there is a higher chance for recovery. However, a break above the 1.1118 mark could confirm the recovery of the pair, which was a horizontal level that drops slightly higher than the range high.

Looking at the fundamental news, the ECB will release the Fed minutes today, particularly the PMI figure. Aside from that, the symposium at Jackson Hole will begin today for three days.

Hence, the euro major pair will likely trade range-bound but various events could affect the pair and induce a breakout, especially with the Jackson hole symposium.
Regards, ForexMart PR Manager
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