Euro Daily Fundamental Analysis

[myregister]

The rally of Euro against the US dollar since Thursday (1/12) continues until the beginning of the European session by sentiment tapering ECB continued to be conducted in June 2017 for 6 months according to information obtained various international media sources.

But after European markets opened and the Spanish unemployment data announced by the local government, which had touched a euro daily highs over the past two weeks continued to erode ahead of the American session opened this evening. Then the pair EURUSD continued pressure receiving sentiment of US NFP data release is expected to raise the dollar.

European session the euro exchange rate movements weakened against the US dollar, after opened lower than the previous trading at 1.0657 in early Asia trade, the Euro exchange rate is now move towards 1.0643, after reaching 1.0689 highs.

For the next trade until the close of trading ending the American session tomorrow morning, analyst viewed as technically that EURUSD pair could decline further to around 1.0628 - 1.0604 as the support range. And if it is not until these ranges can climb back towards the range of resistance between 1.0697 - 1.0723.

[Latham Lapard]

 

Ending the week on nearly flat was understandable considering this pair was on rise the whole of last month from the time of US Presidential elections! So, some pause was expected. This was also a case of massive Yen weakening which is best illustrated in GBP/JPY. NFP was mixed whereby the Payrolls headline was higher but wages were lower! With nothing of much importance next week from both USA & Japan, clues on further direction would come from other financial markets!

[Latham Lapard]

 

Nearly 1% gain for this week is very good and it was mostly yen driven move. This week, the main event risk was OPEC meeting where a deal was reached which lifted the risks sentiments across the markets, which might also be a reason why JPY fell. Next week, is going to be risk event what with Italian Referendum, UK’s Supreme Court hearings and ECB meet, which would be JPY positive if the risk mood sours!

[myregister]

After EUR managed to rally after the referendum Italy early trading last week the price ono the beginning of the European session was consolidatingn. Then after positive sentiment driving the EURUSD is getting stronger by the release of German factory orders data in October, the euro drove back.

EURUSD power to move stronger than expected actually derived from the German factory orders report Destatis which reported increased greatly exhibited significantly from a contraction the previous data climbed to 4.9% after -0.3% in September.

For the next trade until the close of trading in then end of American session tomorrow morning, analysts viewed that technically EURUSD pair could continue to rise to the range between 1.0808 - 1.0850. And if it is not until those ranges then the pair may fall back towards the range between 1.0715-1.0678.

[myregister]

Euro exchange rate movements on Asian session are moving positively against US dollar after the price of this pair opened lower at 1.0717 in early trading, and the Euro exchange rate is now rolling around 1.0720.

Euro in the end of Tokyo session was trying to rebound from the previous trading profit-taking pressure in light of minor economic data releases of European session that German industrial production data and Eurozone PMI retail data. However, limited by sentiment Fed rate which has higher chance to rise next week if the release of US economic data this evening exhibited significantly increased.

Technically, EURUSD will attempt to rise towards the range between 1.0821-1.0890 and if the position is not transparent then the pair fell into the range of 1.0728-1.0635. Many analysts suggest that the normal range of EURUSD pair is estimated to have the support level at 1.0489 and the resistance level at 1.0933.

[myregister]

Euro exchange rate movements based on Asia session is a positive move towards the US dollar after the price of this pair opened at 1.0753 in early trading , and the Euro exchange rate is now rolling on the position of 1.0776.

Euro in the end of Asia session seems rally earlier after continue receiving positive sentimenb market awaits the results of the ECB policy meeting on monetary policy in late 2016 and continued tapering decision in 2017. Markets expect the ECB to announce its tepering will continue in 2017. For the catalysts driving the US dollar itself on American session very weak.

Technically, EURUSD will attempt to rise towards the resistance range between 1.0752-1.0870 and if this pair failed to break this range then EURUSD will fall towards the support range between 1.0675-1.0646. And analysts argued that EURUSD pair is estimated to have the support level at 1.0670 and the resistance level at 1.0850.

[myregister]

Ahead of the American session forex trading, EURUSD consolidation movement narrowed with weak position to continue on previous trading pressure. Which makes the pair weakened sentiment was triggered by the decision of the ECB overnight tapering continuation, where the release of economic data early European session less powerful energizing the rebound.

The market is expecting hawkish ECB policy overnight and benefits, the article hopes against US Dollar for the results of the Fed meeting next week are very slim. To raise interest rates, it is not easy for the Fed to do so before President-elect Trump officially worked as president of the country.

At the beginning of the European session the release of economic data do not support the movement of EURUSD pair, data released such as German trade balance, French industrial production as well as the French government's budget.

For the next trade until the close of trading in the end of American session tomorrow morning, analysts viewed as technically EURUSD is about to decline further to around the support range of 1.0573 - 1.0548. But if it does not penetrate that range then will rise towards resistance range between 1.0640-1.0709.

[myregister]

Euro exchange rate movements on Asia session proven to have a negative movement against US Dollar after the price opened higher at 1.0636 in early trading (0000 GMT), and the Euro exchange rate is now rolling on around 1.0635.

Euro start on Asian session by moving naturally and consolidated also get a profit taking pressure is not responding to the strong sentiment forex trading for Fed rate hikes this week. In the European session EURUSD has the potential to move up by the strength of economic data from Germany are expected to be positive.

Technically, EURUSD is moving higher on European session at around 1.0694-1.0755 and if failed to touch 1.0694 then corrected back towards the range between 1.0604-1.0533. Analysts suggested that the normal range of EURUSD pair is estimated to have the support level at 1.0501 and the resistance level at 1.0749.

[myregister]

Euro exchange rate movements on Asian session is moving weak against US dollar after the price opened lower at 1.0535 in early trading (0000 GMT), and the Euro exchange rate is now rolling at around 1.0511.

Euro still continuing decline after Fed rate hike 25 bp which elevate the dollar against many global currencies. In the European session, there are several economic data releases that could provide positive sentiment for EURUSD pair, PMI manufacturing and services sectors are expected to increase from the previous period.

Technically EURUSD bearish fall to around 1.0491-1.0440 and may reached the next support if successfully break it. Many analysts suggested that the EURUSD is estimated to have the support level at 1.0396 and the resistance level at 1.0658.

[myregister]

Technically Euro exchange rate since Asia session on Friday, continue until the European trading session this weekend after receiving additional power from inflation data release region is comprised of 18 countries and the Italian trade balance data is increased beyond expectations.

On the previous trading session it seems that EURUSD pair dropped to its lowest level in 14 years after the US central bank (Federal Reserve) announced a change in monetary policy that raised interest rates 25 bp. Last Fed rate hike in December, 2015.

For the next trade until the close of trading ending the American session tomorrow morning, analysts viewed as fundamentally that EURUSD pair will fall down towards the support range between 1.0397 - 1.0349.

[myregister]

The movement of the EURUSD pair could move rebound in Asian trade on Tuesday (20/12) cut in the European session despite positive sentiment is very strong supporter of the pace pair when the release of economic data showed an increase in the data from the previous period.

Some data released this afternoon as current account Euro and German PPI data showed an increase exceeding earlier expectations. Strengthening pair in the Asian session supported by safe-haven trade action after adverse events in Berlin that killed 12 people and 50 people injured.

For the next trade until the close of trading ending the American session tomorrow morning, analysts viewed as technically EURUSD pair will drop to the support range 1.0370 - 1.0335. And if there is a correction of positive and rising, the pair drove in the resistance range of 1.0423-1.0482.

[myregister]

EURUSD rally still continues on EU session on Thursday (22/12) in addition to the driving force of several such minor German import data, ECB Bulletin and Italian retail sales. Previous power derived from the euro rally sustained dollar selling by sentiment Christmas holiday and the new year.

The minor mover conquer the market to buy euro more, especially in the ECB bulletin indicating that QE ECB may change the time and amount. Data imported German and Italian retail sales data show that exceeds expectations. But in the American session wary of US Q3 GDP data that can only correct if the pair rate shows the data fairly.

European is moving strongly against US dollar, after opening higher at 1.0424 .For further trade until the close of trading ending the American session tomorrow morning, analysts think EURUSD pair is technically, will drop to the support range between 1.0416 - 1.0356 if the pair rally did not get through the support range between 1.0460-1.0478.

[myregister]

Euro exchange rate against the US dollar in the last week managed to rebound on a weekly basis after two weeks previously experienced a selling pressure. The rebound came at the end of last week's trading took place on the momentum of the US dollar and profit taking also the release of positive economic data.

 

Last week EURUSD slumped badly in the second day to its lowest in 14 years to respond to the latest data release of US Q3 GDP which rose significantly from the previous quarter and natural peiode pressure of the projected increase in Fed interest rates in 2017 of 3 times.

 

The positive sentiment that contribute rebounds for EURUSD comes from the Ifo release consumer sentiment data for the German economy. The Ifo survey report, consumers are still optimistic about the country's economy along with the news of the accident that killed 12 people and suspected terror attack.

 

For movements of trading today up to the last session on New York session , it seems that analysts estimated that EURUSD will be bearish and may have the support level at 1.0367 and 1.0342 while resistance at 1.0670 and then 1.0875.

[myregister]

EURUSD rally since trading Asian session on Wednesday (28/12) seeks trimmed amid thin liquidity the European market and the absence of sentiment driving the pair from the Euro area. The European market is still in a holiday mood is quiet and so there is a strong movement.

The collapse of Euro in trading this afternoon received a negative sentiment from the drop in bond yields in the euro area its quiet fundamental driving force. Profit taking whack EURUSD that has 4 consecutive day rally. Besides the thin trading conditions occur because of easy movement easy once the consolidation.

For the next trade until the close of trading ending the American session tomorrow morning expected to fall. Many analysts estimated that generally this pair(EURUSD) will fall down towards the support range between 1.0444 - 1.0408.

[myregister]

Euro exchange rate against US dollar failed to take advantage of the positive sentiment of the declining number of German unemployment to 11-month lows in the European session on Tuesday (03/01).

German unemployment fell more than expected in December, keeping the unemployment rate in Europe's biggest economy at a record low, data from the Federal Labour Office showed on Tuesday (03/01).

The number of unemployed fell 17,000 to a seasonally adjusted 2.638 million, said the Office. That was more than three times the 5000 forecast in a Reuters poll.

For tonight, German inflation data will be released in December which indicated to rise above expectations . If the results of the German inflation rate to be realized then the EURUSD pair will try to rebound to resistance position.

For the next trade until the close of trading ending the American session tomorrow morning, analysts estimated that fundamentally EURUSD will drop to the range Support between 1.0319 - 1.0233. However, if a rebound will go up to the resistance range between 1.0512-1.0612.

[myregister]

Euro exchange rate movements in the end of Asia session is moving its rally against US dollar after the price opened lower at 1.0488 in early trading, and Euro exchange rate is now rolling at around 1.0561.

Euro's bullish momentum that formed since the previous day's trading when the hawkish FOMC minutes in December 2016 failed to raise US dollars faster. In the middle of the European session there will be some economic data such as the Euro area retail data and PPI in December which was a minor driving.

Technically, EURUSD attempted to climb to the resistance at 1.0582 -1.0625, but if it is not up to 1.0625 will be corrected down to the range of 1.0472-1.0393. Analysts argued EURUSD is estimated to have the support level at 1.0330 and the resistance level at 1.0655.

[myregister]

The movement of EUR exchange rate that moves consolidated against US dollar since Asia session trading until European session this evening (6/1), turn to the red zone. More strong negative movement of the euro triggered by a report of the German economy in the early European session were less encouraging.

Destatis Germany announced a performance report that domestic retail sales in November, exceeding expectations contraction worse than the previous month period positive. After that Eurostat announced contraction in regional retail sales data from the previous month period were positive.

For the next trade until the close of trading ending on American session tomorrow morning, analysts estimated that fundamentally EURUSD has bigger chance to rise up the resistance range between 1.0625 and 1.0660.

[Latham Lapard]

 

UJ dropped fair bit this week before regaining control, as the pair eventually closed out at 117 level on the back of NFP which took the case into hands and we saw the rise quickly and it all pushed ahead strongly.

[Latham Lapard]

 

EJ pushed high during the week without any major dropping, the consistency level was fairly high and that has led to the scenario, it’s likely that we will see the same trend moving ahead, but may pull back around 112 mark.

[myregister]

Amid the bullish momentum to US dollar, Euro managed to rebound on EU session on Monday (9/1) browser profits trading against British pound. Euro's natural pressure against the US dollar is the response to strong US bond yields last week, rebounded after a strong rally on Euro against Pound to reach its highest level in 12 weeks.

Started trading forex on EU session, EURGBP shot high enough sentiment hard brexit burdensome pounds steps in the forex market. Profit trade with other euro rivals give strong track for a rebound EURUSD already depressed since the end of last week.

Today there are also some economic data releases that could put additional pressure on the movement of the euro, such as data from Germany are mixed, and the unemployment rate of the Euro area and Italy. German data releases indicate that the data was mixed because one data decreased industrial production data for November.

For the next trade to closing of American session which ended tomorrow, many analysts estimated that EURUSD technically will rise towards the resistance at 1.0564 - 1.0590. And if there is a correction back to the range of 1.0511-1.0483.

[myregister]

Euro exchange rate movements on Asia session is still bullish against US Dollar after the price of this pair opened lower at around 1.0582 in early trading (0000 GMT), and the Euro exchange rate is now rolling a 1.0597.

Euro still rally by momentum of profit taking where US dollar continued to respond to President Trump's dovish press conference the first time after winning the presidential election. In the European session will receive a positive sentiment of the release of economic data expected to show a minor driving data improved from the previous period.

Technically, EURUSD will rise back to the resistance range at 1.0626 -1.0768 . However, if the correction is happening now then this pair may fall down towards 1.0569-1.0451. Analysts argued that EURUSD is estimated to have the support level at 1.0406 and the resistance level at 1.0768.

[myregister]

Until the early European session forex trading week (16/1) US dollar rebound effort put pressure on businesses continued to rally after EURUSD gains three consecutive days on last week's rally. EU naturally has a strong pressure after receiving negative sentiment from foreign trade balance report by Eurostat the Euro area Monday.

Eurostat reported a trade surplus in November Euro area experienced an increase from the period of the previous month but still far from expectation. This release immediately triggered selling pressure after it was stronger by weakening sentiment stock market performance of the region.

For the next trade until the close of trading ending the American session tomorrow morning, analysts exoected that EURUSD for the next session may rise once again towards the resistance range between 1.0645 - 1.0700 if there was correction this afternoon, then this pair will fall through the support range between 1.0566-1.0509.

[myregister]

The movement of the euro exchange rate throughout this week due to unfavorable natural selling pressure large enough to cut the benefits previous week and will certainly weaken a weekly basis at the end of trading this week (27/1). Euro pushed down this week because of lack of strong sentiment in the currency mover worried fundamental US dollar after the inauguration of US President Donald Trump.

And sentiment which dominated the profit taking pressure on EURUSD at Asia session is that strong trading gains in global stock markets this week both the US and European exchanges themselves. Just this morning the euro rebound strength early in the session immediately by solid trading performance of stock markets in Asia.

The lack of daily driving sentiment today made EURUSD will be more dominated by the sentiment of global movers and also US dollar itself. For the next trade until the close of trading ending the American session tomorrow morning, analysts viewed as technically EURUSD could rise if the US economic data released disappointing return.

[myregister]

In the midst of Asia trading session on Thursday (2/2) the euro exchange rate movements bearish momentum picked up again by US dollar against many currencies of the world. Earlier Euro pressured strongly by solid US employment sector report period January that could elevate the dollar.

 

Fed policy earlier in the year announced by Janet Yellen few hours ago adding a heavy burden for the dollar bearish momentum since the end of the trading year to date fall below the range of 100. However, in the European session should be wary of Spanish unemployment data releases are expected to increase from the previous month period.

 

If EURUSD at European session will be truncated by the sentiments above, until the American session trading will continue moreover stressed there is strong sentiment that could accelerate the dollar power that the jobless claims data. In addition the market can also listen to speeches ECB President Mario Draghi in events held by the Bank of Slavonia.

[Latham Lapard]

 

EUR/USD dropped in big way today as the Euro fortune continues to make the journey harder. There is a lot happening around it which will put the pressure more on it and we will see the pair dipping even further, so good chance for short.