Technical Analysis Report - EUR/USD
17/08/2016 // 07:06:53 am
The European currency was successfully able to breach the strategic 61.8 Fibonacci extension level (minimum-maximum uptrend of 2000-2008), which occurs in the region of EUR 1.1995 level.
The medium-long term market appears to be returning to the bull trend. Dollar index has declined to two-months lows below 95 and 94 points. as traders have started to believe that there will not be any rate hike in this year by the Fed. Lower than anticipated results of US consumer price index is putting back the pressure on the currency. On the contrary, strong data from Europe supported the Euro and we believe that resistance lies at 1.1322-1.1330 and the market expects a pullback and consolidation in the 1.1195-1.1235 area, the old resistance area, which now acts as a strong support.
The pair is expected to rise to the level of EUR1.1440-EUR1.1500 in the medium term.
29/09/2016 // 07:44:21 am
Pound was weighed by Shafik’s dovish comments (the BOE deputy) as
29/09/2016 // 07:41:12 am
On wednesday, the US currency dollar rose because of profit fixati
27/09/2016 // 10:33:13 am
The dollar remained under pressure against its major rivals as stocks