The euro spiked on Thursday in the late NY session

20 March, 2017

Trade Balance in Italy in the Euroland came in negative on Friday. Meanwhile, the sentiment around the US dollar continued to play a major driver across the markets. The greenback remained around its lows after less hawkish than expected Yellen's remarks.

Current situation

The euro spiked on Thursday in the late NY session. Buyers pushed the price upwards and broke 1.0750 in the night. Bulls advanced up to 1.0770 later the night where they stopped. The spot spent the night and the morning in a tight range hovering above 1.0750. The neutral stance remained unchanged during the day trades. The 4 hours chart showed that the price continued developing well above the moving averages. The 50-EMA crossed the 200-EMA upwards. The 50 and 100 EMAs kept heading higher while the 200-EMA was neutral in the mentioned timeframe. The resistance is at 1.0800, the support comes in at 1.0750.

The MACD histogram grew which is a buy signal. RSI consolidated within positive territory.

Trading recommendations

The overall outlook remains bullish, for rise towards 1.0800 resistance area. However, we do not exclude a recovery pull back to 1.0720-1.0700.

Source link   Presented by Fort Financial Services

EUR/USD remained in an uptrend

The spot was unable to climb higher than 1.1683 and retreated to 1.1650. The resistance resides at 1.1700, the support comes in at 1.1650...

Technical Analysis EUR/USD, GBP/USD

We are seeing currency pair trending upwards. The 4-hour chart we see the upward trend creating a third wave of the upper limit of level 3...

EUR/USD bid above 1.1296

The Euro is under pinned very near term by the May high circa 1.1296 and the short term uptrend at 1.1295. While above here, the market remains bid

EUR/USD steady, parked around 1.1400

The single currency meanders within a narrow range at the beginning of the week, taking EUR/USD to the 1.1400 region after a brief test of 1.1390...

EUR/USD surrenders early gains

The EUR/USD pair failed to benefit from upbeat EZ data and has now surrendered majority of its early gains to session tops near 1.1370 region...

EUR/USD stalls at 11445

The dollar has remained soft amid a backdrop of risk aversion, with the apparent hawkish awakening at a number of key central banks prompting a defensive reaction...

EUR/USD has been consolidating

The pair has been consolidating and ranging for some time now as it is caught in the tight range between 1.11 and 1.13...

Technical Analysis EUR/USD

The previous week we saw EUR/USD reach a 9 month high, the correction beginning with...

EURUSD went aside at opening

Looks as the price is going bounce soon from the range of 1.11. Resistance is hold at 1.116...