EUR/USD Technical Overview & Daily Chart

After a strong bullish moment for the euro, the price movement has lulled, though we predict it would recover.

Technical Analysis
10 Ogo 2017
EUR/USD Technical Overview & Daily Chart

Today for our analysis we would look into the current state of the EUR/USD currency pair.

In recent weeks the euro has gradually strengthened against the weakened American dollar. This is largely due to good economic data from Europe, on the one hand, and political instability in the United States, on the other. However, this week we saw some short-term losses for the EUR; still, it didn’t drop too much and was able to find a stable support level above 1.17, which is not bad at all.

The Euro still has the potential to resume its growth to the level of 1.18 that is so coveted by investors, but this might take some time, so we need to be patient.

We currently have the deciding pivot point at 1.1724. If the EUR/USD drops below it, we should keep our eyes on the nearby support levels at 1.1712, 1.1704, and 1.1692. In case the price moves beyond the pivot point, we can use the nearby resistance levels at 1.1732, 1.1744, and 1.1752 as guidance.

As of the moment of this article’s publication the EUR/USD is trading near the pivot point at around 1.1726. The technical indicators are unanimous in recommending a strong sell.

We have some fundamental releases from both the European Union and the United States today. In Europe we expect data on the French industrial production, as well as the trade balance of Italy. From the US we are waiting for the balance of the federal budget, the core PPI, the reserves of natural gas, unemployment, and other economic data. Because of these releases some moderate volatility can be expected in the pair today.

SuperForex
NZD/USD: Fundamental Review & Forecast

Technical Analysis

NZD/USD: Fundamental Review & Forecast

The support line is moving down and the upward trend is weakening while the market is waiting for the RBNZ decision about the rate change and monetary policy.

SuperForex
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GBP/USD Technical Analysis & Daily Chart

Technical Analysis

GBP/USD Technical Analysis & Daily Chart

After a series of sideways movements, we believe the GBP/USD would finally rebound from the support and turn bullish.

SuperForex
08 Ogo 2017
USD/JPY Technical Outlook after US Job Report

Technical Analysis

USD/JPY Technical Outlook after US Job Report

The bulls are waiting for the price channel breaking up.

SuperForex
08 Ogo 2017