Tag Archives: eur/usd

Federal Reserve issues FOMC statement – December 16, 2020

The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.

The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world. Economic activity and employment have continued to recover but remain well below their levels at the beginning of the year. Weaker demand and earlier declines in oil prices have been holding down consumer price inflation. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses.

The path of the economy will depend significantly on the course of the virus. The ongoing public health crisis will continue to weigh on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term.

The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. With inflation running persistently below this longer-run goal, the Committee will aim to achieve inflation moderately above 2 percent for some time so that inflation averages 2 percent over time and longer-term inflation expectations remain well anchored at 2 percent. The Committee expects to maintain an accommodative stance of monetary policy until these outcomes are achieved. The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee’s assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time. In addition, the Federal Reserve will continue to increase its holdings of Treasury securities by at least $80 billion per month and of agency mortgage-backed securities by at least $40 billion per month until substantial further progress has been made toward the Committee’s maximum employment and price stability goals. These asset purchases help foster smooth market functioning and accommodative financial conditions, thereby supporting the flow of credit to households and businesses.

In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals. The Committee’s assessments will take into account a wide range of information, including readings on public health, labor market conditions, inflation pressures and inflation expectations, and financial and international developments.

Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michelle W. Bowman; Lael Brainard; Richard H. Clarida; Patrick Harker; Robert S. Kaplan; Neel Kashkari; Loretta J. Mester; and Randal K. Quarles.

Implementation Note issued December 16, 2020

EURUSD

EURUSD has been trading within a well defined uptrend over the last several months, since breaking out in early 2017. 1.2360 provided support to the pair in early February and now switches to resistance.

The pair’s top level was $1.2555, and recent low was 1.2155. Immediate resistance is seen around 1.2350. A clear break above that area could lead price to neutral zone in nearest term testing 1.2400 area. A close significantly below 1.2200 could point toward a bearish correction.

The next strong support might lie at 1.2060. A break and daily closing below the 1.2000 support area shall trigger renewed selling interest, validating a move towards the 1.1554 level which is the low of the last major downside move.

Forex Technical analysis week: 9-13 October 2017

Forex Technical analysis week: 9-13 October 2017

10-12-2017

GBPUSD regains bullish momentum breaking above the 50 hour moving average and also breaking above the 50 daily moving average after rumors that EU may offer UK a 2 year transition period, stay long as the pair is trading above 1.32

10-11-2017

EURUSD keeps the positive momentum today for third day as EUR relief came from Catalunia president. Short term bullish is well intact as the pair trades above the hourly averages and now is testing the 50 day moving average, a break above will give the bulls the upper hand targeting 1.1862.

10-9-2017

GBPUSD made an impressive rally today gaining more than 100 pips from the lows at 1.3073. Consistent bids send the price higher to the first resistance level at the 100 hour MA at 1.3183 but the lack of volume gave the opportunity to sellers to take control, a move back to 1.31 area looks possible.

 

10-6-2017

EURUSD is trading higher for third day after it managed to find support at 1.1695. The pair has broken above the 50h MA today and reached the 100h MA at 1.1738. EUR was very strong today against USD despite strong NFP data.

For now next resistance is at 1.1830, support could be found at 1.1695 (low Oct 3) and 1.1662 (low Aug 17).

I am watching short term action closely as the bullish momentum on the daily chart is still intact, but I believe reading the short term signals suggest for a move to 1.15.

10-5-2017

USDJPY is trading in narrow 105 pip trading range for the last week. The price is trading below the 100h MA and finds support at 112.45, the 200h MA.  The biggest driver is the Fed rates decision in December and also Donald’s Trump tax reform which supports the US Dollar.  First resistance is 113.26 and then 113.82. A break below 112.45 will be bearish and can drive the price down to 111.75.




 

EURUSD is trading higher for second day after it managed to find support at 1.1695. The pair has broken above the 100h MA and reach today 1.1779. Stay long as long as the pair is trading above 1.1762.

For now next resistance is at 1.1830, support could be found at 1.1695 (low Oct 3) and 1.1662 (low Aug 17)

 

 

 

Forex Technical analysis week: 17-21 July 2017

USDJPY Technical analysis July-19-2017

USDJPY is under selling pressure today and sellers now are in full control as the pair broke below the 50d MA and 100d MA and now it is targeting the 111.21 level, meanwhile USD is weak across the board.

AUDUSD Technical analysis July-12-2017

AUDUSD made an impressive rally the last days but now have reached overbought levels, meanwhile USD looks strong across the board, a profit taking looks possible.

EURUSD Technical analysis July-12-2017

EURUSD is under pressure after Yellen’s speech and broke all the supports just to hit the daily low at 1.1391 the strong support of 200h MA I will enter a long position as we expect the pair to rebound from that support and regain 1.14 level

EURUSD Technical analysis July-11-2017

EURUSD is making new yearly highs, the consolidation around 1.14 has ended with a break to the upside getting help from Donald Trump Jr. posts about email chain with Russian lawyer offer to provide information on Clinton. A close above 1.1465 will give bulls a chance to reach 1.15

GBPUSD Technical analysis July-11-2017

GBPUSD is trading higher today and has already made two attempts to break above the 100h MA. 1.2920 level looks like a strong resistance and we expect the pair to pullback.

USDJPY Technical analysis July-10-2017

The pair failed today to break above the May high at 114.36, it stopped at 114.29, but there is nothing to worry the longs as the pair holds above 114. So stay long as USDJPY is trading above 114, first resistance at 114.36 and then 114.95

GBPUSD Technical analysis July-07-2017

GBPUSD breaks below the 1.29 level after worst than expected manufacturing and industrial production data. Investors dump GB amid expectations that the UK economy could be headed for a slowdown and short term trend broke below the 200h MA

EURUSD Technical analysis July-04-2017

EURUSD is trading in narrow trading range just 41 pips from low to high as us markets are closed. EUR bullish momentum is still intact but we expect a minor pullback for later today

USDCAD Technical analysis June-28-2017

USDCAD is approaching again the daily lows at 1.2964, an early USD reaction earlier today ended just above 1.30. Stay short as long as the pair is trading below 1.2985. Remember that the CAD is often traded as a proxy for crude oil, so make sure that you are watching to what’s going on in that market. Today is Independence Day in USA, and that will work against volume in USDCAD, as the pair is heavily weighted towards North American trading




USDCAD Technical analysis June-28-2017

USDCAD is down 1.10% to lows that we haven’t seen since February 24. The pair has reached oversold level and the crude price is still under pressure, we expect a short recovery from that level.

EURUSD Technical analysis June-27-2017

EUR bulls are back in town breaking above the 1.13 level and bears are running away. I expect more buying as long as the pair hold above 1.13

EURUSD Technical analysis June-26-2017

There is something that we don’t like about the EUR today. The pair moved above last week high at 1.1212 and hit 1.1219, even the macro news was against USD like the Dallas Fed activity index which was lower than expectations, the pair failed to hold the gains and broke below the 1.12 level. The move today suggests that buyers are not very confident and a move lower looks possible.

EURUSD Technical analysis June-23-2017

Finally the pair after trading for 4 days in very narrow trading range (30-40 pips) managed to break emphatically above the 200h MA enhancing the long term bullish momentum for EUR

USDCAD  6-22-2017

Strong Canadian retail sales send the USDCAD to daily low at 1.3207 down more than 100 pips for the day. Meanwhile crude oil is trading 1.4% higher after 4 days of losses. Sellers are in full control of the situation here as better macro data increase the chance of a rate hike on July 12th by Bank of Canada.

GBPUSD  6-21-2017

It looks like the gbpusd found support at the 100d MA and that gave the buyers some confidence. We are not very sure if the rebound will last but i will give it a try targeting the area below intraday high around 1.2682

EURUSD Technical analysis June-20-2017

EURUSD short term outlook has turn negative as sellers took control and every rebound looks like an opportunity for entering short positions. Major support is the 50d MA at 1.1012

GBPUSD bearish momentum 6-20-2017

GBPUSD is under heavy selling pressure today and found support just at 1.2602 level. The pairs momentum turn bearish as it broke below the 100d MA and now the next support could be found in 1.2578 which is the 50% of the move up from March low. Stay short as long as the price trades below the 100d MA

EURUSD Technical analysis June-19-2017

EURUSD is trading in a narrow trading range but since last week the pair short term view looks bearish even that the long term picture is bright. We believe that as long as the pair is trading below 1.12 you should keep your short position, a break above 1.12 will give bulls a chance.




 

 

Risk Warning

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade forex you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

ATTENTION
The information is not an offer, no promotion, no consultation and no advice to buy or sell stocks, indices or currencies.  Trading stocks, indices or currencies is not only a chance, there is always a risk to lose money. Please only trade currencies if you are able to compensate possible losses. Please note that high profits always also contains a high risk. Please also trade with money that you dont need for daily costs.  Interferences with availability over the internet, availability of email deliverability or other software problems are further possible risks when trading with currencies.
Disclaimer: Trading foreign exchange (“Forex”), Commodity futures, options, CFDs and SpreadBetting on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange (“Forex”), Commodity futures, options, CFDs or SpreadBetting you should carefully consider your monetary objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange, Commodity futures, options, CFDs and SpreadBetting trading, and seek advice from an independent advisor if you have any doubts. Past returns are not indicative of future results.
This technical analysis is intended to provide general information and does NOT constitute the provision of INVESTMENT ADVICE. Investors and traders should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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Technical Analysis for EURUSD and USDCAD

Technical Analysis for EURUSD and USDCAD

EURUSD gapped up higher today and is keeping most of the gains after the results of French election. The pair hit the daily high at 1.0904 and made the low at 1.0820 just below the 200d MA and is moving slower higher after. It is bullish that EURUSD tested with success the 200d MA, so we will stay long as the pair is trading above that support.

USDCAD makes and impressive comeback after touching the daily low at 1.3410, enhancing the bullish momentum that we wrote about last week. We are expecting short covering to start soon in the US session.

 

ATTENTION
The information is not an offer, no promotion, no consultation and no advice to buy or sell stocks, indices or currencies.  Trading stocks, indices or currencies is not only a chance, there is always a risk to lose money. Please only trade currencies if you are able to compensate possible losses. Please note that high profits always also contains a high risk. Please also trade with money that you dont need for daily costs.  Interferences with availability over the internet, availability of email deliverability or other software problems are further possible risks when trading with currencies




Disclaimer: Trading foreign exchange (“Forex”), Commodity futures, options, CFDs and SpreadBetting on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange (“Forex”), Commodity futures, options, CFDs or SpreadBetting you should carefully consider your monetary objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange, Commodity futures, options, CFDs and SpreadBetting trading, and seek advice from an independent advisor if you have any doubts. Past returns are not indicative of future results.
This technical analysis is intended to provide general information and does NOT constitute the provision of INVESTMENT ADVICE. Investors and traders should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

Technical Analysis USDJPY and EURUSD

Technical Analysis USDJPY and EURUSD

USDJPY is under pressure today breaking and the 113 level. The pair will rebound from current level as it has reached oversold level and the shorts will run for some profit taking.

EURUSD is trading today in positive bias again as dollar is under pressure. The pair reached the daily high t 1.0754 and i will stay bullish as long as the pair is trading above the 1.0715 level.

Support levels for EURUSD at: 1.0699 – 1.0686 – 1.0677
Resistance levels for EURUSD at: 1.0746 – 1.0763 – 1.0781

ATTENTION
The information is not an offer, no promotion, no consultation and no advice to buy or sell stocks, indices or currencies.  Trading stocks, indices or currencies is not only a chance, there is always a risk to lose money. Please only trade currencies if you are able to compensate possible losses. Please note that high profits always also contains a high risk. Please also trade with money that you dont need for daily costs.  Interferences with availability over the internet, availability of email deliverability or other software problems are further possible risks when trading with currencies
Disclaimer: Trading foreign exchange (“Forex”), Commodity futures, options, CFDs and SpreadBetting on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange (“Forex”), Commodity futures, options, CFDs or SpreadBetting you should carefully consider your monetary objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange, Commodity futures, options, CFDs and SpreadBetting trading, and seek advice from an independent advisor if you have any doubts. Past returns are not indicative of future results.

EURUSD hits fresh 14-year low at 1.0339

EURUSD hits fresh 14-year low at 1.0339

EURUSD fell to fresh 14 year lows, breaking the low from December at the 1.03517 hitting the low for the day at 1.0339 the worst level since 2002. The strong USD supported by data showing strong ISM manufacturing and construction spending data. Bearish momentum came back as we enter the New Year and every rebound looks like a selling opportunity. Bearish momentum will change only if the pair climbs above the 1.0392 level.

 

 

 

EURUSD in 14-years Low

EURUSD in 14-years Low

EURUSD pair is trading at its lowest in 14 years, hitting the low at 1.0366 following the US Federal Reserve latest monetary decision. Investors view that the US economy will pick up pace in 2017.  Also ECB extended monetary stimulus in the EU by more than expected last week boosting further the USD. Central Banks around the world are in the easing path, while the US FED is announcing more tightening.

Sentiment towards the pair is bearish.

Technical indicators have reached oversold territory for EURUSD in the daily chart. Any upward move towards 1.0600 will be seen as selling opportunity from the traders.

Two important interest rate decisions for forex traders

Two important interest rate decisions for forex traders

Two important interest rate decisions for forex traders this week

FOMC interest rate decision on Wednesday, December 14 at 2:00 PM ET/1900 GMT.

It was a year ago that the FED last hiked and all investors believe they will hike again this December. Traders will be looking to see if the Fed is believing into the Trump economy, or will the FED remain cautious. The last two years has seen the Fed enter the new year with positive expectations, only to have slow growth in Q1. The market has already priced the interest rate hike

BOE interest rate decision. Thursday, December 15 at 7 AM ET/ 1200 GMT.

BOE will also announce there interest rate decision with the expectations for no change. In 2017, the market is only pricing about 30% chance of a hike by the end of the year. BOE is on alert as the UK moves toward initiating Article 50 about Brexit and it’s aftermath. As a result, the BOE will likely remain cautious in it’s Monetary Policy Summary.

Forex Pairs to watch: EUR, USD, GBP, EURUSD, GBPUSD

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