EUR News

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.

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.

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

more...

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.

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.

more...

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

more...

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.

more...

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.

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.

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.