EUR/USD Remains Vulnerable Below 1.1120

Key Highlights EUR/USD failed to gain strength above 1.1150 and declined below 1.1100.There was a break below a crucial bullish trend line with support near 1.1105 on the 4-hours chart.The Euro Zone CPI increased 1.3% in Dec 2019 (YoY), similar to the market forecast.The German Producer Price Index could rise 0.1% in Dec 2019 (MoM). EUR/USD Technical Analysis This pas...
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EUR/USD Facing Uphill Task Near 1.1150

Key Highlights EUR/USD found support near 1.1085 and it is correcting higher.There are many hurdles on the upside near 1.1145 and 1.1150.GBP/USD might decline heavily if it breaks the 1.3000 support area.The UK Industrial Production could decrease 0.2% in Nov 2019 (MoM). EUR/USD Technical Analysis After a steady decline, EUR/USD found support near the 1.1085 area. The...
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EUR/USD Likely To Follow Uptrend Above 1.1150

Key Highlights EUR/USD corrected lower after trading as high as 1.1239.A key bullish trend line is forming with support near 1.1130 on the 4-hours chart.The US ISM Manufacturing Index declined from 48.1 to 47.2 in Dec 2019.The Euro Zone Services PMI is likely to remain at 52.4 in Dec 2019. EUR/USD Technical Analysis This past week, EUR/USD traded above the 1.1200 resi...
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EUR/USD Gaining Bullish Momentum, Bulls Aiming 1.1250

Key Highlights EUR/USD found support near 1.1070 and rallied above 1.1150.A major bearish trend line was breached with resistance near 1.1110 on the 4-hours chart.GBP/USD is back above 1.3050 and it might consolidate in the near term.The US Pending Home Sales might increase 5.8% in Nov 2019 (YoY). EUR/USD Technical Analysis After a downside correction, EUR/USD found s...
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EUR/USD Could Resume Its Downtrend Below 1.1050

Key Highlights EUR/USD started following a bearish path from the 1.1200 resistance.GBP/USD failed to stay above the key 1.3200 support and declined towards 1.3000.The US GDP grew 2.1% in Q3 2019, similar to the market forecast.The US New Home Sales could decline 0.8% in Nov 2019 (MoM). EUR/USD Technical Analysis This past week, EUR/USD consolidated above the 1.1100 su...
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EUR/USD Turned Positive Above 1.1050

Key Highlights This past week, EUR/USD climbed above the 1.1050 and 1.1100 resistance levels.A key rising channel is forming with support near 1.1100 on the 4-hours chart.GBP/USD corrected sharply after tagging the 1.3500 resistance area.The US Manufacturing PMI could decline from 52.6 to 52.4 in Dec 2019 (Preliminary). EUR/USD Technical Analysis This past week, the E...
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EUR/USD Stuck In Broad Range Below 1.1100

Key Highlights EUR/USD struggled to settle above the 1.1100 resistance area.GBP/USD remained strong and surged above the 1.3100 resistance area.The US nonfarm payrolls increased 266K in Nov 2019, better than the market forecast of 180K.The US unemployment rate declined from 3.6% to 3.5% in Nov 2019. EUR/USD Technical Analysis After forming support near 1.1000, the Eur...
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EUR/USD At Risk of Further Declines

Key Highlights EUR/USD extended its decline and retested the 1.0980 support area.A major bearish trend line is forming with resistance near 1.1045 on the 4-hours chart.The Euro Zone CPI increased 1% in Nov 2019 (Prelim) (YoY), better than the 0.7% forecast.The US ISM Manufacturing Index might increase from 48.3 to 49.4 in Nov 2019. EUR/USD Technical Analysis This past...
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EUR/USD Recovering But Approaching Resistance

Key Highlights EUR/USD started an upside correction from the 1.0989 low and climbed above 1.1020.There are many hurdles on the upside such as 1.1065 and 1.1080.GBP/USD bounced back after a correction and climbed above 1.2880.The US NAHB Housing Market Index is likely to remain at 71 in Nov 2019. EUR/USD Technical Analysis After a steady decline, the Euro found support...
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EUR/USD Showing Bearish Signs Below 1.1050

Key Highlights The Euro started a fresh decline from the 1.1175 resistance against the US Dollar.EUR/USD traded below a crucial bullish trend line at 1.1110 on the 4-hours chart.GBP/USD also declined and broke the key 1.2800 support area.UK’s GDP is likely to grow 0.3% in Q3 2019 (Preliminary) (QoQ). EUR/USD Technical Analysis The Euro faced a strong resistance near...
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