"EURUSD has been trending lower on the short-term time frames, with a potential retracement opportunity presenting itself on the 4-hour chart. Price previously broke below support around 1.0850-1.0900 before dipping close to the 1.0700 handle then pulling back.Using the Fibonacci retracement tool on the latest swing high and low shows that the 50-61.8% levels line up with the broken support zone. This might hold as resistance since it is also close ...
EUR/USD is trading at the crossroads ahead of a couple of ZEW Economic Sentiment data, most important of which for Germany and the Eurozone as a whole. Let’s take a look at the fundamental factors first. German ZEW Economic Sentiment – Forecast: 18.2, Previous 27.1 Eurozone ZEW Economic Sentiment – Forecast: 41.3, Previous 48.1 ...
EUR/USD To Be Halted By 1.37 'It [GDP data] was very disappointing, and in the current situation we have very low vol, heading into month-end, and half-year end as well. So, the ducks are all lined up [for] U.S. dollar weakness.' - RBC Capital Markets (based on Reuters) Pair's Outlook The Euro is slowly but surely moving in the direction of the 55 and 200-day SMA on the back of a weaker greenback. This resistance at 1.37 is expected to prevent further appreciation ...
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