FXTM information and reviews
FXTM
93%
OctaFX information and reviews
OctaFX
92%
XM information and reviews
XM
91%
FXCC information and reviews
FXCC
90%
Libertex information and reviews
Libertex
89%
FxPro information and reviews
FxPro
88%

EURUSD weakened yesterday


7 July 2016

EURUSD weakened yesterday. There are no positive drivers for the euro. The retail sector in the Eurozone declined, and the euro began experiencing the effects of Brexit.

Current situation

The euro again came under pressure. This time the EUR/USD fell due to the risk aversion. The pair tried to recover yesterday, but stopped at the mark 1.1100. The immediate support is seen at 1.1000, the resistance stands at 1.1130.

The indicators recommend short positions. The moving averages (50, 100 and 200) are moving downwards. The price touched the 50-EMA in the 4 hours chart. The pair is below the 100-EMA and 200-EMA on the same chart.

The indicator MACD decreased. If its histogram stays in the negative area it will be a signal to sell. RSI moved away from an oversold area. If its signal line turns back to undervalued zone it will be a sell signal.

Trading recommendations

To trigger further downward movement the pair needs to fall below 1.1050. Alternatively, the EUR/USD will recover to 1.1130. We believe that the euro will remain under pressure until the UK leaves the EU.

Share:


Related

New lows in EURUSD
New lows in EURUSD

EURUSD hit another multi-month bottom while investors are trying to escape risks. The major currency pair is back to falling. The current quote for the instrument is 1.0429...

13 May 2022

EUR/USD regains traction slowly and firmly, targets 1.0600 ahead of ZEW
EUR/USD regains traction slowly and firmly, targets 1.0600 ahead of ZEW

EUR/USD extends the advance to the vicinity of 1.0600. Germany, EMU Economic Sentiment comes next in the docket. A slew of Fed-speakers should keep the attention on the dollar...

10 May 2022

EUR/USD: Bears remain in control near 1.0500
EUR/USD: Bears remain in control near 1.0500

EUR/USD keeps the offered stance well and sound on Monday. German 10y bund yields surpassed the 1.15% region, fresh tops. EMU Investor Confidence sank to -22.6 in May...

9 May 2022

The Euro's got a chance
The Euro's got a chance

EURUSD stopped falling; the asset is recovering after the US Fed’s May meeting. The major currency pair reached stability after the Fed’s meeting. the current quote...

5 May 2022

The "greenback" is extremely strong
The "greenback" is extremely strong

EURUSD continues trading near its lows; market players are waiting for the US Fed’s decisions. The major currency pair remains weak on Wednesday...

4 May 2022

EUR/USD recovers above 1.0550 in cautious FX market trade as key Fed meeting
EUR/USD recovers above 1.0550 in cautious FX market trade as key Fed meeting

EUR/USD has rebounded back to the 1.0550 area and is eyeing a test of short-term range highs near 1.0600. But trade in FX markets remains cautious ahead of this week’s Fed meeting...

3 May 2022


HFM information and reviews
HFM
87%
IronFX information and reviews
IronFX
86%
FXCM information and reviews
FXCM
85%
LegacyFX information and reviews
LegacyFX
83%
NordFX information and reviews
NordFX
82%
FP Markets information and reviews
FP Markets
81%

© 2006-2022 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.