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EURUSD

EUR/USD reaches the highest level in a week at 1,0600Yesterday, there was further upward movement in the Eurusd currency pair as anticipated. The Eurusd pair reached a weekly high at $1.0600 and is presently trading steadily at $1.0584, indicating a marginal weekly increase. Surprisingly, the US dollar experienced continued weakening on Friday, which provided strong support for the Eurusd pair to persist. According to the one-hour chart analysis, this particular currency duo is experiencing an expansion in its uptrend. Gold prices are expected to maintain their upward trajectory towards 1.061 before encountering resistance and potentially retracing towards 1.052 levels. On the flip side, if there is a breakout above 1.061 levels witnessed in this currency duo's price action, it would propel it further upwards towards 1.083 USD mark
by Samson-FX
EURUSD analysis todayGreetings, everyone! Presently, the EUR/USD pair is experiencing a favorable trajectory as anticipated, currently trading at 1.0544. The decline in value of the US dollar and the continuous support from US Treasury bond interest rates are contributing to the strength of this currency pair. When examining the technical analysis on a one-hour time frame, we can observe that this particular currency pair is predominantly trending upward. It is projected to potentially rise to 1.059 before retracing back to its support level at 1.057, followed by another significant surge in value.
Long
by Samson-FX
EUR/USD: The decline in pressure decreases above 1,0545 - UOBA few days ago (on October 3, at the spot rate of 1.0480), Samson emphasized that the EUR "is still in a downtrend phase and is likely to weaken to around 1.0430, possibly below 1.0400." The EUR dropped to 1.0447 and has since rebounded. The downward momentum is starting to slow down, and if the EUR surpasses the level of 1.0545 (with no significant change in 'strong resistance' from yesterday), it means that the level of 1.0430 will not appear during this period.
by Samson-FX
EURUSD pares losses within five-week-old bearish channelEURUSD stays defensive within a short-term bearish chart pattern after recovering from the Year-To-Date (YTD) low in the last two consecutive days. The corrective bounce also crossed a two-week-long falling resistance line and gains support from the bullish MACD signals, as well as the upbeat RSI (14) conditions, to suggest the Euro pair’s further advances. However, the top line of a downward-sloping trend channel established since August 30, close to 1.0575 by the press time, guards the immediate recovery of the pair. Following that, an 11-week-old descending resistance line and the 200-SMA, respectively near 1.0660 and 1.0700, will act as the final defense of the bears before giving control to the buyers. Meanwhile, the resistance-turned-support line stretched from September 20, surrounding 1.0530, puts a floor beneath the EURUSD price for the short term. In a case where the Euro pair drops below 1.0530, the 1.0500 round figure and the yearly low marked on Tuesday around 1.0450 will test the bears. Also acting as a downside filter is the bottom line of the aforementioned bearish trend channel, close to 1.0420 at the latest. Should the major currency pair remain bearish past 1.0420, and also break the 1.0400 threshold, a gradual south-run toward the late November 2022 swing low of around 1.0220 can’t be ruled out. Overall, EURUSD is likely to witness further recovery but the bearish trend prevails unless the quote stays beneath 1.0700.
by MTradingGlobal
Global Markets Face DownturnGlobal markets are experiencing a decline, with early indications suggesting that Wall Street may open lower. The Dow futures are down 129.00 points, the S&P 500 futures are declining by 19.50 points, and the Nasdaq 100 futures are sliding by 82.75 points as of 8:00 am ET. On Monday, the major US stock indexes mostly finished higher, with the Nasdaq gaining 0.7 percent, the S&P 500 inching up slightly, and the Dow slipping by 0.2 percent. Today, the Labor Department will release the Job Openings and Labor Turnover Survey (JOLTS) report for August, which could be a significant event. The consensus is for 8.75 million job openings, slightly lower than July's figure. Asian stocks also fell sharply today, with Hong Kong's Hang Seng index tumbling by 2.69 percent. Chinese markets remained closed for the holidays, and Japanese shares also declined. Australian markets dropped after the Reserve Bank of Australia kept interest rates steady but highlighted the possibility of further policy tightening to control inflation. European shares are also trading negatively, with France's CAC 40, Germany's DAX, England's FTSE 100, and the Swiss Market Index all declining. The Euro Stoxx 50, which represents leading companies in the Eurozone, is also down. Additionally, there will be a 52-week Treasury bill auction held later today.
by MilanTaMi
EUR/USD recovers to 1,0600, what is the conspiracy EURUSD?Hello everyone! Let's join Samson in exploring today's market! EUR/USD is currently battling with the 1.0600 level on its path to recovery during the European trading session on Tuesday. This currency pair is receiving support from the pause in the US dollar's rally and the low-interest rates of US Treasury bonds, as risk sentiment stabilizes. We are awaiting data from the United States. On a 4-hour chart, the support zone around 1.0560 may trigger a rebound. The levels at 1.0600 and 1.0630 have now become significant resistance levels. A decline below 1.0550 could lead to increased volatility and a higher likelihood of rapid price decreases.
by Samson-FX
EUR/USD weakened near the lowest level in the last 6 monthsSamson greeted everyone and would be happy to see you in today's discussion. Currently, EUR/USD is holding less than 1,0550, of which the US dollar remains stable and benefits from the psychology of hesitation that has supported the green coins on Tuesday. Price for this currency pair. EUR/USD exchange rate for short time at 1,0600 but quickly decreased. This pair of money reaches a low level of 1,0561. The 4 -hour chart shows the downtrend and the money pairs continue to search for support. As long as this pair of money is still below 1,0735, the negative trend will continue to exist.
by Samson-FX
EURUSD is having difficulty recoveringHello everyone! It's great to see you all again and have a discussion about the market today. Today, the exchange rate of EUR/USD is showing a downward trend. It has started to decrease and is currently trading at 1.0500. This currency pair is trying to make a slight recovery. HOWEVER, along with that, there is also a modest decline in the US dollar, amid optimistic sentiment and slow pace of interest rate hikes by the US Federal Reserve, which is supporting this currency pair. In my personal opinion as an analyst (AD), the resistance level at 1.0604 may be adjusted once again and then expect it to decrease towards the support level at 1.0455.
by Samson-FX
EURUSD falls in a head and shoulders patternJoin Darius as we delve into the market today. During Thursday's Asian session, EUR/USD is trading above 1.0500, making a gradual comeback from its eight-month low of 1.0488. The pair is receiving some support due to a slight decline in the US Dollar and sluggish US Treasury yields, amidst an optimistic sentiment. The lowest point reached by EUR/USD was 1.0488, marking its lowest level since March and sitting just above the year-to-date low of 1.0483. Currently, the pair is hovering around 1.0500 with a bearish inclination following a modest rebound. On the four-hour chart, there has been recovery observed after touching the lower boundary of the descending channel which indicates a possible correction or consolidation phase ahead. However, if there is a decisive drop below 1.0480, it could potentially trigger an acceleration towards the next support area at 1.0455 while immediate resistance can be found at 1.0550.
Short
by Darius_trader
EURUSD bounces off 10-month-old support but remains bearishEURUSD pares weekly losses ahead of the key inflation data from the Eurozone and the US. In doing so, the Euro pair rebounds from horizontal support comprising lows marked since November 2022, around 1.0485-80, as the RSI (14) takes a U-turn from the oversold territory. The same joins the looming bull cross on the MACD to direct the pair towards the nine-month-old previous support line, close to 1.0650 at the latest. However, the mid-September highs of around 1.0765-70 and the convergence of the 50-SMA and the 200-SMA, surrounding 1.0830, will act as tough nuts to crack for the buyers before retaking control. On the contrary, the EURUSD pullback remains elusive beyond the immediate horizontal support line surrounding 1.0480. Following that, the 50% Fibonacci retracement of September 2022 to July 2023 upside of near 1.0400 will precede the late November 2022 bottom of around 1.0220 to test the Euro bears. In a case where the major currency pair remains bearish past 1.0220, the 61.8% Fibonacci ratio of around 1.0200 will act as the final defense of the pair buyers. Overall, EURUSD remains bearish below 1.0830 but the corrective bounce may recall 1.0650 for a while on the chart.
by MTradingGlobal