US dollar kept getting stronger

13 February, 2017

French Non-Farm Payrolls showed strong data, however, the euro ignored these figures. The common European currency is under pressure amid growing political risks related to the Presidential elections in France. The upcoming elections in Germany. Netherlands andItaly give additional pressure on the euro. Moreover, the US Dollar price-dynamics is underpinned by Trump upcoming tax reform plan.

Current situation

The US dollar kept getting stronger on Friday. After a night light recovery the euro kept losing its value in the European session. Traders broke the level 1.0650 and continued pushing the price lower in the NY session. The EURUSD pair broke the 200-EMA in the 4 hours chart. The 50 and the 100-EMAs remained bearish-neutral while the 200-EMA was bullish in the mentioned timeframe. The resistance is at 1.0650, the support comes in at 1.0600.

The MACD histogram decreased which is a sell signal. RSI left the neutral territory and stayed within the oversold readings favoring a new move lower.

Trading recommendations

As the most probable scenario, we consider further moving downwards towards the level at 1.0600. A close below the mentioned support could additional weakness towards 1.0550.


Source link  
Positive market sentiment persists

On Tuesday, US markets continued to gain, after a positive start of the trading week on Monday. It is characteristic that on the positive sentiment...

Equity markets continue to decline

The last two trading days are marked by negative market dynamics, as equity indices are under pressure. On Wednesday, Europe was under pressure...

Asian equity indexes mixed

Asian indexes were mixed on Thursday following a soft close in Wall Street following a widely anticipated tax reform approval by Congress...


Mixed sentiment takes on in Asia

Asia markets were mixed on Monday, following a strong lead from Wall Street last week as market players looked ahead to fresh economic data, while...

Euro is firm at current levels

The preliminary estimate of the consumer price index in November rose to 1.5% from 1.4%. The data turned out to be less than expected...

Gold reversed some losses

The softer tone in the US Dollar allowed gold prices to reverse some losses. Buyers broke the upper limit of the selling channel and almost...


Pound tested 1.3200 and stopped

The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...

Brent failed to approach 49.50

Sellers kept driving the benchmark lower the whole night and found an obstacle at 48.50. The resistance lies at 49.50, the support lies in at 48.50 dollars...

DAX index turned bearish

The benchmark broke 12600 first and then weakened down to 12527. Bulls returned control in the early European session and returned the price to 12600...


In the past 24 hours Bitcoin has gained 0.48% and reached $6306.3951938. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -2.3522% and is now at $1.1335. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -21.22% and is now at $284.116094096. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Forex Market Analysis



Forex Currencies Forecasts



Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets89%
2FXTMFXTM87%
3HYCMHYCM85%
4FxProFxPro80%
5FIBO GroupFIBO Group78%
6FXCMFXCM73%
7AvaTradeAvaTrade68%
8HotForexHotForex67%
9Alfa-ForexAlfa-Forex66%
10XMXM66%
  


Share: