EUR/USD Recovery Facing Many Key Hurdles

Key Highlights The Euro started an upside correction from the 1.1027 swing low against the US Dollar. A major bearish trend line is forming with resistance near 1.1135 on the 4-hours chart of EUR/USD.The US nonfarm payrolls in July came in at 164K, down from the last revised 193K.The US ISM Non-Manufacturing Index in July 2019 could increase from 55.1 to 55.5. EURUSD Tec...
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EUR/USD Remains In Significant Downtrend

Key Highlights The Euro failed to hold the 1.1200 support and declined heavily against the US Dollar. A major bearish trend line is forming with resistance near 1.1215 on the 4-hours chart of EUR/USD.The US Gross Domestic Product grew 2.1% in Q2 2019 (Prelim), more than the 1.8% forecast.The Spanish CPI in July 2019 (Prelim) could increase 0.4% (YoY), similar to the last ch...
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EUR/USD Likely To Face Hurdles Near 1.1300

Key Highlights The Euro started a decent rebound from 1.1200 against the US Dollar. EUR/USD is facing a significant resistance near 1.1300 and a bearish trend line on the 4-hours.The Euro Area Industrial Production in May 2019 increased 0.9% (MoM), better than the +0.2% market forecast.The NY Empire State Manufacturing Index in July 2019 might rise from -8.6 to 0.5. EURU...
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EUR/USD Starts Fresh Decrease Towards 1.1150

Key Highlights The Euro failed to hold the 1.1280 support and recently declined against the US Dollar. EUR/USD traded below a key bullish trend line with support at 1.1280 on the 4-hours chart.The US nonfarm payrolls in June 2019 increased 224K, more than the 160K forecast.Germany’s Industrial Production in May 2019 (MoM) could slide 0.4%, less than the last -1.9%. EUR...
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EUR/USD Signaling Bullish Continuation Above 1.1350

Key Highlights The Euro gained momentum and broke the 1.1350 resistance against the US Dollar. EUR/USD is showing positive signs and it could rise above 1.1400 in the near term.The US Manufacturing PMI in June 2019 (Prelim) declined from 50.5 to 50.1.The German IFO Business Climate Index in June 2019 might slide from 97.9 to 97.3. EURUSD Technical Analysis After dovis...
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EUR/USD Retreats From Highs, Can It Bounce Back?

Key Highlights The Euro failed to gain momentum above 1.1350 and trimmed most gains against the US Dollar. EUR/USD traded below a connecting bullish trend line with support near 1.1280 on the 4-hours chart.The US Industrial Production in May 2019 increased 0.4% (MoM), more than the +0.2% forecast.The NY Empire State Manufacturing Index in June 2019 could decline from 17.80 ...
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EUR/USD Recovery Facing Important Resistance

Key Highlights The Euro found support near 1.1115 and recently recovered against the US Dollar. EUR/USD is facing a strong resistance near 1.1190 and a bearish trend line on the 4-hours chart.The US Personal Income increased 0.5% in April 2019, more than the 0.3% forecast.The Euro Zone Manufacturing PMI in May 2019 is likely to remain at 47.7. EURUSD Technical Analysis ...
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EUR/USD Could Move Higher Within Range

Key Highlights The Euro found support near 1.1100 after a strong decline against the US Dollar. EUR/USD traded above a major bearish trend line at 1.1165 on the 4-hours chart.On the upside, there are many hurdles near 1.1225 and 1.1260.The US Durable Goods Orders in April 2019 declined 2.1%, more than the -2.0% forecast. EURUSD Technical Analysis This past week, the E...
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EUR/USD Sighting Larger Recovery Above 1.1280

Key Highlights The Euro found support near 1.1175 and corrected higher against the US Dollar.A major bullish trend line is forming with support at 1.1195 on the 4-hours chart of EUR/USD.The US CPI in April 2019 increased 2.0% (YoY), less than the +2.1% forecast.Canada’s unemployment rate declined from 5.8% to 5.7% in April 2019. EURUSD Technical Analysis After tradi...
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EUR/USD Remains Vulnerable Below 1.1250

Key Highlights The Euro declined heavily, tested 1.1140, and recently bounced back against the US Dollar.A key bullish trend line is forming with support near 1.1170 on the 4-hours chart of EUR/USD.The US Nonfarm Payrolls increased 263K in April 2019, better than the 185K forecast.The Euro Zone Services PMI in April 2019 is likely to remain stable at 52.5. EURUSD Technic...
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