EUR News

EURUSD continued its sideways movement in a range between 1.0820 and 1.0950. Support is at 1.0820. As long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 1.0569 and further rise to 1.1000 area could be expected after the sideways movement. On the downside, a breakdown below 1.0820 support will indicate that the upward movement had completed at 1.0950 already, then the following pullback could bring price back to 1.0600 zone.

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European Central Bank policymakers will be able to provide an updated economic assessment in June when more information and the latest set of macroecnomic projections would be available, ECB Executive Board member Peter Praet said Thursday.

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EURUSD’s bullish movement from 1.0569 extended to as high as 1.1021. Support level is now at 1.0874, as long as this level holds, the bullish movement could be expected to continue and next target would be at 1.1050 area. On the downside, a breakdown below 1.0874 support will indicate that the bullish movement had completed at 1.1021 already, then the following downward movement could bring price back to 1.0700 area.

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German job vacancies reached a new record in the first quarter of the year, results of a survey by the Institute for Employment Research/IAB showed Tuesday.

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France's current account deficit decreased in March from a month earlier, data from the Bank of France showed Wednesday.

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EURUSD broke above 1.0900 resistance and rebounded to 1.0930 area, indicating that the downward movement from 1.1021 had completed at 1.0839 already. However, the bounce would possibly be correction of the downtrend from 1.1021, another fall towards 1.0700 is still possible after the correction. Key resistance is at 1.1021, only break above this level will indicate that the uptrend from 1.0569 has resumed, then the following upward movement could bring price to 1.1400 zone.

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The euro area trade surplus increased in March from a month ago, as exports rose and imports fell, preliminary data from Eurostat showed Monday.

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Policymakers agreed that there was a need for great caution in undertaking even subtle changes in communication so as to avoid market volatility similar to the 'taper tantrum' in 2013, the minutes of the minutes of the European Central Bank's policy session on April 26-27 revealed Thursday.

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The European Central Bank may be forced to tighten policy once inflation is perceived to be on a self-sustaining path despite high unemployment, ECB Executive Board member Benoit Coeure said Friday.

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EURUSD moved below the ascending trend line on 4-hour chart and is now facing the 1.1161 support, a breakdown below this level will indicate that the uptrend from 1.0839 had completed at 1.1267 already, then the pair will find support at around 1.1070, followed by 1.1030. On the upside, as long as 1.1061 support holds, the fall from 1.1267 would possibly be consolidation of the uptrend, another rise towards 1.1350 is still possible after the consolidation. Resistance is at 1.1267, a break of this level could signal resumption of the uptrend.

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EURUSD failed to break below 1.1161 support and moved sideways in a trading range between 1.1161 and 1.1267, indicating that the pair remains in uptrend from 1.0839 and the fall from 1.1267 could be treated as consolidation of the uptrend. As long as the 1.1161 support holds, the uptrend could be expected to continue and next target would be at 1.1350 area. On the downside, a breakdown below 1.1161 support will indicate that the upward movement had completed at 1.1267 already, this could trigger a correction pullback into 1.1070 zone.

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Germany's consumer price inflation eased more-than-expected in May to its lowest level in six months, preliminary data from Destatis showed Tuesday.

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EURUSD stays in a falling price channel on its 4-hour chart and is now in short term downtrend from 1.1267. As long as the pair is in the channel, the downtrend could be expected to continue and next target would be at around 1.1050. However, the fall from 1.1267 would possibly be consolidation of the longer term uptrend from 1.0569 (Apr 10 low), another rise towards 1.1450 is still possible after the consolidation. Near term resistance is at the top trend line of the channel now at around 1.1195, a clear break of the channel resistance could signal resumption of the uptrend.

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EURUSD broke above the top trend line of the price channel on its 4-hour chart, indicating that the short term downtrend from 1.1267 had completed at 1.1109 already. Now the pair is facing 1.1267 resistance, a break of this level could signal resumption of the uptrend from 1.0569 (Apr 10 low), this could trigger another bullish movement towards 1.1450. Near term support is at 1.1195, only a breakdown below this level will indicate that lengthier consolidation for the uptrend is needed, then the pair will find support around 1.1050.

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Germany's factory orders declined more-than-expected in April, reflecting a weak start to the second quarter. Manufacturing new orders dropped 2.1 percent month-on-month in April, reversing a revised 1.1 percent increase in March, figures published by Destatis revealed Wednesday. Orders were forecast to drop slightly by 0.3 percent.

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EURUSD remains in short term uptrend from 1.1109, as long as 1.1200 support holds, the pullback from 1.1285 could be treated as correction of the uptrend. Further rise could be expected after the correction pullback and a break of 1.1285 resistance could trigger another bullish movement towards 1.1450. On the downside, a breakdown below 1.1200 support will indicate that lengthier consolidation for the longer term uptrend from 1.0569 (Apr 10 low) is underway, then the pair will find support at around 1.1130.

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The European Central Bank has taken its very first step towards exiting its massive stimulus by omitting the mention of "lower levels" for interest rates in its forward guidance on Thursday, even as the bank chief Mario Draghi denied that there was any discussion of tapering in the latest policy session.

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EURUSD’s fall from 1.1285 extended to as low as 1.1166. Deeper decline is still possible and next target would be at around 1.1130. However, as long as 1.1109 support holds, the fall would possibly be consolidation of the uptrend from 1.0569 (Apr 10 low), another rise towards 1.1450 could be expected after the consolidation. Resistance is at 1.1285, a break of this level could signal resumption of the uptrend.

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EURUSD stays in a descending price channel on its 4-hour chart, indicating that the pair remains in the short term downtrend from 1.1285. As long as the pair is in the channel, the downtrend could be expected to continue, and next target would be at around 1.1130. Near term resistance is at 1.1232, a break of this level could bring price back to test 1.1285 resistance.

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Eurozone inflation slowed as estimated in May, largely reflecting the slowdown in energy price growth, final data from Eurostat showed Friday.

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Germany's manufacturing employment increased in April from a year ago, data from Destatis showed Friday.

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EURUSD failed to break below the 1.1109 key support and stays in the trading range between 1.1109 and 1.1295, indicating that the pair remains in the uptrend from 1.0569 (Apr 10 low), and the sideways movement in the range could be treated as consolidation of the uptrend. As long as 1.1109 support holds, the uptrend could be expected to resume, and another rise towards 1.1450 is still possible after the consolidation. The key support is at 1.1070, only a break below this level could signal completion of the uptrend.

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German economy will probably grow appreciably also in the second quarter, Commerzbank analyst Ralph Solveen said, citing the bank's Early Bird indicator.

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Belgium's consumer confidence dropped to its lowest level in four months in June, after remaining unchanged in the previous two month, survey data from the National Bank of Belgium showed Tuesday.

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EURUSD is facing 1.1109 support once again, a breakdown below this level could take price to the key support level at 1.1070. Below this level will confirm that that the uptrend from 1.0569 (Apr 10 low) had completed at 1.1295 already, then the following downward movement could bring price into 1.0800 zone. On the upside, as long as 1.1109 support holds, the fall from 1.1295 could be treated as consolidation of the uptrend, and one more rise towards 1.1450 is still possible after the consolidation.

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The European Central Bank will decide to wind down its government bond purchases based on inflation even if the spreads for any country would rise as a consequence, ECB Executive Board member Peter Praet said. "As a central bank, we conduct monetary policy for the whole of the euro area," Praet, who is also the ECB chief economist, said in an interview to the German magazine Der Spiegel.

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EURUSD moved sideways in the bottom of the trading range between 1.1109 and 1.1295. A clear break below 1.1109 support will indicate that the uptrend from 1.0569 (Apr 10 low) had completed at 1.1295 already, then the pair will find the next support level at around 1.0800. On the upside, as long as 1.1109 support holds, the fall from 1.1295 could be treated as consolidation of the uptrend, one more rise towards 1.1450 is still possible after the consolidation. Resistance is at 1.1295, a break of this level could signal resumption of the uptrend.

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EURUSD failed to break below 1.1109 support and stays in the trading range between 1.1109 and 1.1295. As long as the pair is above 1.1109 support, the price action in the trading range could be treated as consolidation of the uptrend from 1.0569 (Apr 10 low), and another rise towards 1.1450 could be expected after the consolidation. Resistance is at 1.1295, a break of this level could signal resumption of the uptrend. On the downside, a breakdown below 1.1109 support will indicate that the uptrend had completed at 1.1295 already then the pair will find support at around 1.0800.

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The European Central Bank will need to be prudent in withdrawing monetary stimulus as that can be done only gradually with the euro area still in need of considerable policy support to bring inflation back to target in a sustainable way, ECB President Mario Draghi said Tuesday.

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The European Central Bank needs to remain patient and persistent as euro area inflation trends are yet to show any convincing convergence towards the bank's target, ECB Executive Board Member and Chief Economist Peter Praet said Tuesday.

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EURUSD moved sideways in a trading range between 1.1290 and 1.1445. As long as the pair is above 1.1290 support, the sideways movement could be treated as consolidation of the uptrend from 1.1118 and further rise towards 1.1600 is still possible after the consolidation. On the downside, a breakdown below 1.1290 support will indicate that the uptrend had completed at 1.1445 already, then the pair will find support at around 1.1200.

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After touching 1.1450 key resistance, EURUSD pulled back to 1.1390 area, indicating that lengthier consolidation for the uptrend from 1.1118 is needed. Deeper decline could be expected in a couple of days and the target would be at 1.1350 area. However, as long as 1.1312 support holds, the uptrend from 1.1118 could be expected to resume and another rise towards 1.1600 is still possible after the consolidation. Resistance is now at 1.1489, a break above this level could signal resumption of the uptrend.

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Germany's manufacturing employment increased in May from a year ago, data from Destatis showed Monday.

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EURUSD is testing the key resistance at 1.1450. A clear break above this level will confirm the double bottom pattern on the weekly chart, then the following long term bullish movement could bring price into 1.2700 zone. As the pair stays above the bullish trend line on the daily chart, the uptrend from 1.0569 could be expected to continue, and next target would be at 1.1600 area. On the downside, a clear break below the trend line support could bring price back to test 1.1109 key support, only a breakdown below this level will indicate that lengthier consolidation for the uptrend from 1.0340 is underway, then the pair will find next support level at around 1.0950.

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The rise in the euro-zone's trade surplus in May indicates that GDP growth likely accelerated in the three months to June and trade is set to continue boosting growth in the coming quarters, Jennifer McKeown, an economist at Capital Economics, said.

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Eurozone house price inflation held steady at more-than nine-year high in the three months ended March, data from Eurostat showed Wednesday.

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Eurozone private sector started the third quarter on a solid footing, but the pace of growth slowed for the second successive month in July, largely due to the moderation in the manufacturing sector. The composite output index fell to a 6-month low of 55.8 in July from 56.3 in June, flash data from IHS Markit showed Monday. The reading was expected to drop marginally to 56.2.

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EURUSD’s bullish movement from 1.1312 extended to as high as 1.1845. Near term support is at the bottom trend line of the price channel on the 4-hour chart. As long as the price is in the channel, the uptrend could be expected to continue and next target would be at 1.2000. On the downside, a clear break below the channel support could bring price back to test 1.1613 support, below this level will indicate that the uptrend is complete, then the pair will find support at around 1.1500.

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EURUSD stays in a bullish price channel on its 4-hour chart and remains in the uptrend from 1.1312. As long as the price is in the channel, the uptrend could be expected to continue and next target would be at 1.2000 area. On the downside, the price had reached the top of the channel, pullback to the bottom trend line would likely be seen in a couple of days. A clear break below the bottom trend line could bring price to test 1.1613 support, below this level will confirm that the uptrend had completed at 1.1845 already, then deeper decline to 1.1500 area could be seen.

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EURUSD remains in the uptrend from 1.1312, the pullback from 1.1908 could be treated as consolidation of the uptrend. Near term support is at the bottom trend line of the price channel on its 4-hour chart. As long as the channel support holds, the uptrend could be expected to continue and next target would be at 1.2000 area. On the downside, a clear break below the channel support could bring price back to test 1.1650 key support, below this level will indicate that the uptrend from 1.1312 had completed at 1.1908 already, then the pair will find next support at the bullish trend line on the daily chart.

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