Subscribe to RSS

Euro Stalls, Pound Weakens Severely. Bounces Higher Expected

EUR/USD

Forex News: The euro-dollar moved without clear direction all day yesterday and gravitated around 1.0870 level. The fundamental scene was rather calm, contributing to the pair’s lack of determination.

Technical Outlook

The pair is in a ranging state but it is trading below the 50 period Exponential Moving Average and below 1.0870. This makes us favour the short side for a drop into 1.0800 support but a bounce above 1.0870 would invalidate such a scenario, making 1.0945 the first target. The overall picture is not much changed compared to yesterday but the oscillators are moving downwards and this increases the chances of an extended fall.

Fundamental Outlook

We have another slow day ahead, with the only notable release being the Eurozone Industrial Production. The indicator is scheduled at 10:00 am GMT and shows changes in the value of output generated by the industrial sector. Higher numbers than the anticipated -0.2% (previous 0.6%) are usually beneficial to the Euro; however, the indicator is known to have a mild impact on the market.

GBP/USD

The Pound extended losses on the back of a disappointing performance of the Manufacturing sector and reached levels that were last seen in 2010.

Technical Outlook

The first support is located at 1.4350, followed by the more important one at 1.4230 but both these levels were last visited in 2010 so their importance may have degraded during time. The Relative Strength Index is deep in oversold and the Stochastic is lagging behind price, that’s why it is not below its 20 level, so we can safely say that the pair is oversold and a retracement higher is long overdue. The first potential level of resistance is 1.4495 but the Pound is weak and further downside cannot be overruled.

Fundamental Outlook

The United Kingdom didn’t schedule any economic data for today so the pair’s direction will be dictated by the technical aspect.

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

100 USD Wanga Bonus Promotion – Fort Financial

100 USD Wanga Bonus Promotion – Fort Financial(0)

100 USD Free Wanga Bonus Promotion to All New and Existing Traders. You can withdraw your Free Wanga Bonus Amount or use it for further forex trading on your account Link:  100 USD Wanga Bonus Promotion Link:  $5 Forex No Deposit Welcome Bonus Link:  Up to 50% Bonus of Every Deposit Link:  15% Support Margin

$50 Forex No Deposit Free Power Bonus – GIC Market

$50 Forex No Deposit Free Power Bonus – GIC Market(0)

$50 Forex No Deposit Free Power Bonus Promotion to All New Traders. $50 Forex No Deposit Free Bonus is one of the unique promotions that offer new traders money to open a live trading account. Link: $50 Forex No Deposit Power Bonus Available to: New and Existing Traders. Ending Date: 31 December 2017 Bonus Offer:

$3500 Free Forex No Deposit Trading Bonus – InstaForex

$3500 Free Forex No Deposit Trading Bonus – InstaForex(0)

Get $3500 Free Forex No Deposit Trading Bonus Start Trading Forex and CFD Without Deposit and Without Risks. The new $3500 No Deposit Forex Bonus from InstaForex is an exciting opportunity to start Forex Trade. Link:  $3500 Free No Deposit Bonus Link:  Get 250% Bonus for First Deposit Link:  100% Deposit Bonus Campaign Available to: 

Up to $1000 Welcome Bonus of Every Deposit – FortFS

Up to $1000 Welcome Bonus of Every Deposit – FortFS(0)

Up to 50% Bonus of Every Deposit to All New and Existing Traders. You Deposited $1000 on your account, chose a 50% bonus and got 500 extra dollars to the initial deposit amount. Link:  $50 Forex No Deposit Welcome Bonus Link: Up to 50% Bonus of Every Deposit Link: $5 Forex No Deposit Welcome Bonus

30 USD Forex No Deposit Bonus Promotion – Tickmill

30 USD Forex No Deposit Bonus Promotion – Tickmill(0)

$30 No Deposit Forex Welcome Bonus Campaign to All new traders. $30 Free Forex Welcome Account is available to all new clients who expressed a wish for it during the registration process. Link:  Weekly Demo Race Trading Contest Link:  $30 Free Welcome Bonus Campaign Link:  Forex Monthly Live Trading Contest Available to: All new traders

$25 Deposit and earn $5000 Cashback Bonus – UFX

$25 Deposit and earn $5000 Cashback Bonus – UFX(0)

100% Forex Real Money Cash-back Bonus Promotion to all new and existing clients. Join and gain exclusive access to the ONLY online trading 100% Forex Cashback rewards bonus program Link:  $5000 BitCoin Rewards Bonus Promo Link:  $50 Free and Trade in Three Steps Link:  $50 Free No Deposit Bitcoin Bonus Link:  100% Real Money CashBack

300% Deposit Bonus Plus Free Forex Signals – MarketsYes

300% Deposit Bonus Plus Free Forex Signals – MarketsYes(0)

300% Tradable Bonus Promotion up to $3000. MarketsYes is offering all prospective clients’ deposit for up to 3000 USD/EUR/GBP a 300% Forex Tradable Bonus. Link:  300% Tradable Bonus Promotion Available to: All new traders Ending Date: 31 December 2018 Bonus Offer: 300% Tradable Bonus Promotion up to $3000 to all new traders SETTLEMENT COMPANY CORPORATION

Receive $100 Free on your Trading Account – FxFinance

Receive $100 Free on your Trading Account – FxFinance(0)

Receive $100 Free on your FxFinance Live Trading Account. $100 Free offer is valid for an unlimited period of time, for all those who have made accruals for the shares before August 31, 2017. Link:  Receive $100 Free on your Account Available to: All new trading account Ending Date: 31 August 2017 Terms of action:

15% Margin Bonus and $50 No Deposit Bonus – FortFS

15% Margin Bonus and $50 No Deposit Bonus – FortFS(0)

15% Margin Bonus and $50 No Deposit Bonus Promotion from FortFS to All New and Existing clients For Limited Time Offer. Fort Financial Services announces the start of the new promo-action from 26.10.2015 until 31.12.2018. Link:  15% Support Margin Bonus Promo Link:  50% Deposit Bonus Promotion Link:  $50 Forex No Deposit Welcome Bonus Available to:

$50 No Deposit Bitcoin Forex Bonus Promotion – UFX

$50 No Deposit Bitcoin Forex Bonus Promotion – UFX(0)

$50 Forex No Deposit Bitcoin Bonus Special Promotion to all new trading account holder. Start Forex Trading Bitcoin with UFX and  Get a $50 No Deposit Bonus Link:  $50 Forex No Deposit Bonus Promotion Link:  $50 Free No Deposit Bitcoin Bonus Link:  Halloween Trick or Trade Competition Available to: All new trading account Ending Date:

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories