Forex Analytics

The technical outlook for euro dollar exchange rate (EUR / USD) tomorrow 28.07.2017

Bullish momentum on the New York session on Wednesday pushed the market up. Buyers were able to break through on the pulse of the levels 1.1650 and 1.1700. Throughout the night, and the price rose in the middle of trading in Asia, reached 1.1750. Asset only tested the level, and then fell back to 1.1700. Resistance is located at 1.1750, 1.1700 support level.

Forecast EUR / USD: Breaking 1.1700 support bullfighting, which will seek today to 1.1800. Given the overbought forward correction to the area of ​​1.1650.

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On Thursday the 27th of July, the euro/dollar closed down. A strengthening US dollar came on the back of profit-taking and a growth in US 10Y bond yields. The euro fell from its high of 1.1777 to 1.1650 (-127 pips). After trading closed in Europe, the rate restored to the LB (simple line with a period of 55). Now, let’s see what Friday has in store for us.

The technical outlook for euro dollar exchange rate (EUR / USD) tomorrow 01.08.2017

Bulls again tested 1.1750 last week. Level does not let customers higher and the EUR / USD began to decline. In the first half Monday, the euro moved down to 1.1700. Resistance level is at 1.1750, support level of 1.1700 made. Buyers of the euro at auction in the United States successfully broke through the level of 1.1750 and 1.1800 euro headed for quotes around 1.1850

Forecast EUR / USD: The level of 1.1750 has become fairly strong support, if buyers do not pierce the mark 1.0830 where the pair is trading at the moment, EUR / USD waiting for corrective weakness towards 1.1800 - 1.1750, where the bulls once again will try to take the initiative. Support 1.1750 breakthrough could return to the euro dollar exchange rate 1.1700

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On Tuesday, trading on the euro/dollar pair closed down. The price fell from a high of 1.1845 to 1.1786 (-59 pips). Volatility surged after the release of the second wave of US data. The ISM manufacturing index for the US in July turned out lower than expected and fell from the previous month’s value.

The euro didn’t continue its growth due to a collapse in oil prices during the US session. This drop weighed down on the Canadian dollar, through which pressure was exerted on the other major currencies.

Technical forex forecast chickens with the euro dollar (EUR / USD) as of today 03/08/2017

Euro quotes rebounded from the ascending channel's lower border at night and close to the upper boundary. Support is at 1.1850, the resistance level of 1.1900.

Forecast EUR / USD Any reduction will be considered as correct. If buyers retain control, such a decline will be short-lived. A pair of majors can attack 1. 1850 in the near future. In the breakdown of the EUR / USD may continue the correction to 1.1800

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On Wednesday, trading on the euro closed up. Towards the end of the US session, the pair experienced increased volatility and the exchange rate sharply dropped. After a 90-pip surge to 1.1910, the pair underwent a 60-pip correction to 1.1850. In Asia, this drop continued to 1.1834.

As I’ve said before, when there’s a sharp rise or drop in a currency at a time when no significant news has been released, it either means that someone important is speaking or that some kind of emergency situation has taken place somewhere.

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On Thursday the 3rd of August, trading on the euro/dollar pair closed up. After falling to 1.1831, the single currency trimmed its losses against the greenback with a jump to 1.1893. Euro bulls first received support from the Bank of England’s minutes and then from Mark Carney’s speech. The dollar then took a dive on the back of a sharp drop in US bond yields.

The technical outlook for euro dollar (EUR / USD) exchange rate for today 08/07/2017

The single currency keeps positive dynamics. Now the quotes are between 1.1900 and 1.1850. Resistance is located at 1.1850, 1.1800 support level.

Forecast EUR / USD: If the power of buyers continues, the pair can break through 1.1900, opening the way to further mount to 1.2000.

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On Friday the 4th of August, trading on the euro closed 95 pips down against the dollar. The pair consolidated around 1.1880 up until the NFP report. The strong US labour data led buyers to close their short positions on the dollar. The euro dropped 148 pips to 1.1728 in the space of 3 hours as a result of triggered stop levels.

Interest in cryptocurrencies is continuously on the rise across the world. The prices of some of these currencies are rising at breakneck speeds. Over the weekend, the bitcoin hit a new all-time high and is trading at 3235 USD today. The market’s shine is attracting not only buyers (not all that shines is gold), but is also creating the need for more ICOs. Everyone is trying to take advantage of this and so there’s been a lot of hype around ICOs recently, which actually creates competition among cryptocurrencies. In the picture below is a monthly bar chart of new ICO funding.

The technical outlook for euro dollar exchange rate (EUR / USD) tomorrow 08.08.2017

The euro sank heavily on Friday, losing a day more than a hundred points. Major broke 1.1850, 1.1800 and 1.1750 tested. Despite such a sharp drawdown, the asset is still in the uplink, although it is at the lower boundary. On Monday, the euro partially recovered, rising in the morning to 1.1800. Resistance is located at 1.1800, 1.1750 support level.
We believe that the decline in the single currency will continue. The euro may fall to 1.1650.

Previous:

Trading on the euro/dollar pair on Monday closed 0.19% up. After restoring to 1.1814, the euro fell to 1.1781. Sellers were unable to breathe further life into the downwards impulse against the growth on the euro/pound cross during the US session. Trading closed at 1.1795. The economic calendar was empty, so there was low activity on the market up until the Asian session.

The euro dollar forex technical forecast EUR / USD today 08/09/2017

The Euro continues to hold the line on Tuesday. Buyers only managed to win back some of the losses, and lead the market to 1.1800, where their forces have run low. Resistance is located at 1.1850, 1.1800 support level.

We expect continued decline and breakdown of the level 1.1750.

The technical outlook for euro dollar (EUR / USD) exchange rate for today 08/10/2017

Sellers struck 1.1800, 1.1750 and tested the 1.1700 on Tuesday. To gain a foothold in the region of 1.1700 it failed and at night they retreated to 1.1750. On Wednesday, the pressure on the euro preserve moose, effort early in the morning. Impetus to sales sent the market to 1.1700. Resistance is located at 1.1750,

Technical forex forecast the euro to $ ar (EUR / USD) as of today 08/11/2017

Sellers continue to hold control over the market. The euro rebounded from 1.1750 and weakened to 1.1700 in the first half of the day. Resistance is located at 1.1750, 1.1700 support level.

Forecast EUR / USD We will maintain a negative attitude towards the pair until it is below 1.1800. Break of 1.1700 will give bears a chance to reach 1.1650.