EUR/USD Technical Analysis & Daily Chart

The pair remains bearish.

Technical Analysis
May 10, 2018
EUR/USD Technical Analysis & Daily Chart

Today we would take a look at the EUR/USD currency pair. The pair over the past three weeks has continued its steady downfall and we expect the bearishness to persist.

The euro has retreated from highs semi-permanently. The European Central Bank expected that by now its extensive stimulus program would have driven inflation healthily up, but instead the CPI continues to lag behind forecasts. Because of this the ECB is expected to continue its dovish policy, which would weaken the euro further.

Meanwhile, the American dollar finds itself in the complete opposite boat. Inflation in the United States is growing steadily, wages are increasing, and unemployment is going down. All of these are signs that the economy is healthy, and another interest rate increase is expected soon. The Dollar index is soaring and we expect the US currency to continue making gains against all major currencies.

In terms of the daily chart, today we have a pivot point for the pair located at 1.1857. We expect the EUR/USD to continue its decline, so look towards the nearby support levels at 1.1816 and 1.1781. If the pair starts gaining again, be aware of the resistances at 1.1892 and 1.1933. The indicators of technical analysis unanimously agree on a strong sell signal.

SuperForex
GBP/USD Technical Analysis & Forecast

Technical Analysis

GBP/USD Technical Analysis & Forecast

We are waiting for the continued movement.

SuperForex
May 10, 2018
USD/JPY Technical Overview & Daily Chart

Technical Analysis

USD/JPY Technical Overview & Daily Chart

The dollar is still strong, so we expect a bullish trend.

SuperForex
May 08, 2018
USD/CAD Technical Analysis

Technical Analysis

USD/CAD Technical Analysis

The dollar keeps growing.

SuperForex
May 08, 2018