EUR/USD (Euro to Dollar) Forecast, Page 1

The Euro rallied significantly during the week, slamming into major resistance at the 1.12 handle, and the 50 week EMA. Beyond that, there is also a lot of resistance in the form of a downtrend line.

The Euro continues to find plenty of resistance near the 61.8% Fibonacci retracement level from the bigger move, and of course the downtrend line that I have marked on the chart. The 1.12 level is psychologically important as well, and we have seen a bit of a push back from

Based on the early price action and the current price at 1.1171, the direction of the EUR/USD the rest of the session on Friday is likely to be determined by trader reaction to the Fibonacci level at 1.1185 and the steep uptrending Gann angle at 1.1181.

Boris Johnson’s Conservative Party absolutely crashed the UK Election securing a huge win over the Labour Party.

Boris Johnson’s conservative party won an absolute majority in the British Parliament. There will be no second referendum on Brexit, and after years of political chaos, investors have a clearer picture of the future.

Forward progress in two major events shook up the markets on Thursday, leading to a jump higher in EUR/USD to test the 50 WMA for the first time since June.

The Euro has rallied a bit during the trading session on Thursday, breaking above the 200 day EMA. We have since pulled back a bit though, so it looks as if the market is probably going to fade in this general vicinity.

Based on the early price action and the current price at 1.1134, the direction of the EUR/USD the rest of the session on Thursday is likely to be determined by trader reaction to the downtrending Gann angle at 1.1139.

Yesterday evening we found out that we should not expect any interest rate rises in 2020, which of course was a rather negative information for the American Dollar.

This morning Britain started voting. The results of the General Elections are important not only in the United Kingdom but around the world.

EUR/USD pushed sharply higher on the back of yesterday’s Fed meeting, breaking through a declining trendline in the process. More volatility is expected as the ECB is up next and the UK election takes place.

US equities strengthened US 10-year treasury yields slipped lower, however, down 5bps to 1.79%, providing a fillip to gold prices. But until we ultimately clear the Brexit and US-China risk, the market could struggle to trade directionally.

Based on the early trade, the direction of the EUR/USD the rest of the session on Wednesday is likely to be determined by trader reaction to the short-term Fibonacci level at 1.1102 and the downtrending Gann angle at 1.1104.

The Euro has initially fallen during trading on Wednesday but turned around to show signs of life again as we continue to look towards the 1.11 handle above.

EUR/USD has erased a bulk of the losses that followed Friday’s jobs report and is closing in on December highs ahead of today’s Fed meeting.

In the race for Number 10, the massively awaited poll from YouGov predicts a majority Tory victory, although the race has tightened considerably.

The Euro has rallied a bit during the trading session on Tuesday, reaching towards the 1.11 level. That’s an area that is more thought of as a “fair value” area than anything else right now.

Based on the early price action and the current price at 1.1076, the direction of the EUR/USD the rest of the session on Tuesday is likely to be determined by trader reaction to the short-term 50% level at 1.1079.

EUR/USD is catching a bid after testing a support confluence derived from a confluence of the 50 and 100-day moving averages.

The Euro rallied a bit during the trading session on Monday, showing signs of life at the 50 day EMA. At this point, the market remains relatively range bound, but likely to pull back a bit.