Category: EURUSD
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Looking ahead in the forex with a technical look at EURUSD, USDJPY and GBPUSD for Oct 7
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The week is off and running. What technical levels are there for the three major currency pairs for this trading day/week? In this video, I outline and explain where traders should focus not only today, but also as the week progresses. Euro against the US dollar: EURUSD fell sharply last…
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Chart Art: EUR/USD Is at a Range Support Ahead of the U.S. NFP Release!
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Looking for trade setups during the US Nonfarm Payrolls report? We have arrived! In case you missed this news, the EUR/USD pair looks like it is poised near a technical support level ahead of Uncle Sam’s employment updates. EUR/USD for 4 hours Chart by TradingView The euro is not having…
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Bank of America target EUR/USD to 1.15
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Bank of America says that with EUR/USD approaching the year-end target of 1.12, the pair has limited upside: Market expectations for interest rate cuts by the Fed and ECB are now fully priced in for 2024 ( I’ll mention that after Powell spoke on Monday, these expectations seemed overblown for…
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The USD is lower on PCE data. What are the technicals telling us in EURUSD, USDJPY &GBPUSD
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US PCE data was below expectations and helped push the US dollar lower. For EURUSD, the price moved above the swing zone between 1.1181 and 1.11897. Next targets are at 1.1200 and this week’s high at 1.12130. Passing these levels will make traders target the 61.8% retracement of the downward…
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EURUSD buyers take the price up to overhead swing area resistance
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EUR/USD started the day with a volatile up and down price movement. The price has been trading above and below the 100/200 hourly moving averages indicating uncertainty from buyers and sellers. In the morning video, I talked about the uncertainty of buyers and sellers due to volatile price action. A…
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EURUSD Technical Analysis – The greenback continues to get beaten up
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Basic Overview Yesterday, the US consumer confidence report surprised markets with the biggest decline since 2021. The labor market data in the report also fell significantly, and it generally leads the unemployment rate. The market has responded by raising the odds of a 50 basis point Fed rate cut in…
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Citi doubles down on bearish EUR/USD stance By Investing.com
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Investing.com – Citigroup Inc. reinforced its bearish stance, citing recent disappointing European economic activity data. Data released earlier this week showed that business activity in the eurozone contracted sharply this month. The preliminary HCOB business confidence index, compiled by S&P Global, fell to 48.9 this month from 51.0 in August,…
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EURUSD held the support outlined in the morning kickstart video and bounced. What next?
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Earlier today, in my introductory video, I highlighted the next major support level for the EUR/USD. This level was shown and highlighted between 1.1131 and 1.11399. Here is the clip… So what happened? Below is the chart of today’s price action. The price did not stop lower between the level…
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Kickstart the FX trading day for Sept 13 w/a technical look at the EURUSD, USDJPY & GBPUSD
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In the opening video, for September 13, 2024, I take a look at three other major currency pairs – EURUSD, USJDPY, and GBPUSD. For the EUR/USD pair, it moved into a swing zone between 1.10976 and 1.11042 and found willing sellers. This area will be a major resistance level today…
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Kickstart the FX trading day for Sept 13 w/a technical look at the EURUSD, USDJPY & GBPUSD
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In the opening video, for September 13, 2024, I take a look at three other major currency pairs – EURUSD, USJDPY, and GBPUSD. For the EUR/USD pair, it moved into a swing zone between 1.10976 and 1.11042 and found willing sellers. This area will be a major resistance level today…
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What are the technicals in the EURUSD saying into the new trading week
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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European markets fall ahead of U.S. jobs data (EUR:USD)
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da-kuk/E+ via Getty Images London (UKX) -0.40% Germany (DAX:IND) -0.73% Germany posts trade surplus of 16.8 billion euros in July France (CAC:IND) -0.44% to a three-week low on Friday. France posted a trade deficit of 5.9 billion euros in July. The Swiss consumer confidence index fell by 2.2 points to…
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EUR/USD to grind higher to above 1.15 in 2025: UBS By Investing.com
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On Tuesday, UBS noted that a slowing US economy could weaken the US dollar as the Federal Reserve may begin to ease monetary policy. For investors, UBS sees the exchange rate, which has been in a range of 1.10-1.15, rising above 1.15 by 2025. The brokerage notes that any dips…
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What are the technicals telling traders in the EURUSD, USDJPY and GBPUSD pairs
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In this video, I take a look at the three major currency pairs from a technical perspective. On Monday, the EUR/USD pair fell, approaching its rising 100-hour moving average which is currently at 1.1143 (current price at 1.11615). This moving average will be a key barometer for the pair in…
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Further dollar weakness not a given, EURUSD overshooting fundamentals: UBS By Investing.com
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The US dollar fell this week as stock markets recovered from early August declines, while expectations of a more dovish Federal Reserve policy continued. UBS Global Research analysts warn against assuming the US dollar will continue to fall. Although the euro has reached a new high against the US dollar…
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EURUSD Technical Analysis – The risk-on sentiment weighs on the US Dollar
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Basic Overview Yesterday, we saw strong data from the US, with unemployment claims and retail sales figures coming in much better than expected. The initial reaction was bullish for the US dollar, but after a while the market started to fade this move. The reason for this is that risk…
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Stay bullish on dollar; sell EUR/USD rallies
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Investing.com – Citi Research has become more bearish on risks, recommending selling any rallies. At 07:00 ET (11:00 GMT), the EUR/USD pair was up 0.1% at $1.0926, after falling about 0.3% over the past week. The U.S. central bank signaled last month that it had become more bearish on risks,…
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Kickstart the FX trading day for Aug. 9 w/a technical look at the EURUSD, USDJPY & GBPUSD
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In the opening video for August 9, I take a look at three major currency pairs, EURUSD, USDJPY, and GBPUSD from a technical perspective. For the EUR/USD pair, the pair is trading up and down during today’s trading, but has found resistance from sellers against its 100-hour moving average at…
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EURUSD falls below 200 day MA but finds support buyers near the 100 day MA
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The EUR/USD pair fell below the 200-day moving average at 1.08173, preceded by an extension of the decline on the back of a technical breakout. However, once the price reached the 200-bar moving average on the 4-hour chart and the 100-day moving average between 1.07946 and 1.07994, buyers stopped the…
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European markets mixed as economic indicators hit (EUR:USD)
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da-kuk/E+ via Getty Images London (UKX) -0.53% Germany (DAX:IND) +0.27% Germany’s GDP shrinks by 0.10% in Q2 France (CAC:IND) +0.32% France’s GDP grows 0.3% in Q2 Spain’s GDP grows 0.8% in Q2, inflation falls to 2.8% The Czech Republic’s GDP grew by 0.3% in the second quarter. Producer prices in…