ICmarkets

Thoughts on the single currency right now...

FX:EURUSD   Fx Euro/Dolar U.S
The US dollar             came under fresh selling pressure on Thursday, following a disappointing round of US economic data. Producer Price Index numbers came in weaker than expected in December. In addition to this, the figure for seasonally adjusted initial unemployment claims printed at 261K vs. an expected 246K. The US dollar index             fell to lows of 91.79 as a result of this, which in turn forced the single currency northbound. H4 price easily cleared the large psychological band 1.20 and clocked highs of 1.2059.

Although this move has likely excited lower-timeframe buyers, intimidating resistance is in play! Not only is there a daily Quasimodo resistance plotted nearby at 1.2070 that already proved itself last week, there is also a long-term weekly resistance seen at 1.2044 and a 127.2% weekly Fib ext. point at 1.2081.

Market direction:

In view of the unit’s close proximity to higher-timeframe resistance, buying this market is not something we’d label high probability. Equally though, a sell is also a difficult proposition. Aside from the 1.20 band now likely to offer support, another essential point worth noting is the merging 2018 yearly opening level posted on the weekly chart at 1.2004.

Until the higher-timeframe picture offers a cleaner perspective, neither a long nor short seems attractive at this time.

Data points to consider: German Buba President Weidmann speaks at 4.30pm; US CPI             m/m figures and US retail sales numbers m/m at 1.30pm GMT             .

Areas worthy of attention:

Supports: 1.20 handle; 1.2004.
Resistances: 1.2081; 1.2044; 1.2070.

MS Bahasa Melayu
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Laman Utama Pengimbas Saham Pengesan Isyarat Forex Pencari isyarat mata wang Crypto Kalendar Ekonomi Bagaimana ia berfungsi Ciri-ciri Carta Peraturan Rumah Moderator Laman web dan Penyelesaian Broker Widget Perpustakaan Carta Stok Permintaan Ciri Blog & Berita Soalan Lazim Bantuan & Wiki Twitter
Profil Pengesetan Profil Akaun dan Bil Tiket Sokongan Saya Hubungi Sokongan Idea-idea yang diterbitkan Pengikut Mengikuti Mesej Peribadi Perbualan Log Keluar