Subscribe to RSS

EUR/USD: dollar resurges on dovish European Central Banks

EUR/USD Current price: 1.1243

View Live Chart for the EUR/USD

e


Two Central Banks have passed offering nothing really ground breaking, but helping the American dollar in recovering some ground after falling down to fresh weekly lows against the EUR and the GBP. In Europe, stocks opened with a soft tone, and remain quiet around their opening, waiting for the US Central Bank’s minutes, to be released later in the American afternoon. Macroeconomic data coming from Germany disappointed once again, with the trade balance surplus well below previous month one at €19.6B in August, whilst export and imports posted a sharp decline.

The ECB released the Accounts of its latest meeting, with the Central Bank expressing its concern over the slowdown in emerging markets weighing in global growth, whilst the local recovery has been weaker than previously expected. The ECB also said that it has been front buying ever since September, and will continue to do so until November.

The EUR/USD pair pulled down from a daily high of 1.1314 and accelerated its decline after losing again the 1.1280, and falling as low as 1.1239. In the US, the weekly unemployment claims came out better-than-expected, down to 263K in the week ending October 2. The 1 hour chart shows that the price temporary broke above the daily descendant trend line coming form 1.1713, but is now below it, with the technical indicators heading sharply lower and the price below the 20 SMA, supporting a downward continuation short term. In the 4 hours chart, the price is now struggling around its 20 SMA, whilst the technical indicators also turned sharply lower, but hold above their mid-lines.

Support levels: 1.1200 1.1160 1.1120

Resistance levels: 1.1285 1.1335 1.1370

GBP/USD Current price: 1.5270

View Live Chart for the GPB/USD

g


The Bank of England left its economic policy unchanged, largely in line with market’s expectations, with 1 out of 9 MPC members voting for a rate hike. The tone was mild dovish, as the BOE expressed its concern over the currency strength while downgrading its inflation expectations, now seen below 1% until 2016 spring. The GBP/USD pair retreated from a fresh weekly high of 1.5371, accelerating its decline below the 1.5300 level on the back of EUR decline, accelerating lower on the back of US employment data. The 1 hour chart shows that the indicators head sharply lower near oversold territory, whilst the 20 SMA is now turning south around 1.5315, the 38.2% retracement of the latest daily decline. In the 4 hours chart, the technical indicators retreat from overbought levels, but the price is well above its 20 SMA that now converges with the 23.6% retracement of the same rally around 1.5240.

Support levels: 1.5240 1.5210 1.5170

Resistance levels: 1.5315 1.5340 1.5390

USD/JPY Current price: 119.92

View Live Chart for the USD/JPY

y


Increasing bearish potential. The USD/JPY pair remains flat, but daily basis, it has posted a lower low at 116.62m whilst the upside remains capped by selling interest around the 120.00 figure. With the pair still within its recent range, the daily chart shows that the bearish potential increases as the price moves further below the 200 DMA, whilst the 100 DMA gains bearish strength above the other. Shorter term, the 1 hour chat shows that the price holds below its 100 and 200 SMAs, whilst the technical indicators have bounced and are about to cross their mid-lines towards the upside, on the recent dollar’s momentum. In the 4 hours chart, the technical indicators also turned north, but remain below their mid-lines, whilst the price remains below its moving averages. The pair needs to break above 120.35, a Fibonacci resistance, to confirm additional intraday gains that anyway will hardly extend beyond 121.00

Support levels: 119.60 119.35 118.90

Resistance levels: 120.35 120.70 121.00

AUD/USD Current price: 0.7170

View Live Chart for the AUD/USD

a


The AUD/USD pair is easing from  its Wednesday high, as dollar advances ahead of the American opening, weighed by a sudden decline in gold prices amid dollar’s demand. The 1 hour chart shows that the price is being capped by a bearish 20 SMA, whilst the technical indicators turned south below their mid-lines. In the 4 hours chart, the technical indicators are pointing for a downward correction, heading south from extreme overbought levels, whilst the 20 SMA aims higher around 0.7145, providing an immediate support in the case of further declines.

Support levels: 0.7145 0.7110 0.7080

Resistance levels: 0.7200 0.7235 0.7280

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

$25 Free Forex Welcome Gift to Start Trading – TRADE

$25 Free Forex Welcome Gift to Start Trading – TRADE(0)

Sign up and receive $25 Free Forex Welcome Gift to Start Forex Trading. $25 Free Forex Welcome Gift by TRADE.com to trade forex live trading without any Deposit and investment to verify live account Link:  $25 Free Welcome Gift to Start Trading Available to: All new trading account Bonus offer: Sign up and receive $25

Stay Informed About Crucial BREXIT News – UFX Broker

Stay Informed About Crucial BREXIT News – UFX Broker(0)

How will BREXIT affect the value of the GBP? Could the EUR be affected, as well? Other European markets may see volatile market reactions as investors wonder how the UK may profit from its own market, rather than remain part of the EU’s single market. Stay Informed About Crucial BREXIT News with UFX Link:  Stay

Up to 444% Profit Receive for a Single Trade – Grand Capital

Up to 444% Profit Receive for a Single Trade – Grand Capital(0)

Up to 444% Receive Profit with our new Express Options for Grand Capital Ltd Binary Option Broker. Make a correct prediction for 3 assets at the same time Link: Up to 444% Profit Receive for a single trade Link:  $500 Forex No Deposit Welcome Bonus Link:  40% Forex Welcome Deposit Bonus Available to: All new

$6000 First Deposit Bonus Limited Time Offer – XTrade

$6000 First Deposit Bonus Limited Time Offer – XTrade(0)

Up to $6000 First Deposit Bonus Limited Time Offer (T&C applied) on all Deposits for all Customers. Become an XTrade customer, and get 60% Forex Special bonuses (T&C applied) on all deposits made during your first 7 days!! Link:  $50 Free Cash Welcome Bonus Promotion  (T&C applied) Link:  $30 Free Account Verification Bonus (T&C applied) Link: 

50% Deposit Bonus and $50 No Deposit Bonus – FortFs

50% Deposit Bonus and $50 No Deposit Bonus – FortFs(0)

$50 Forex No Deposit Bonus Promo Action to all eligible clients. Every client who passed the verification process in their trader’s room can get the $50 No Deposit Welcome Bonus Link:  $50 Forex No Deposit Welcome Bonus Link:  Up to 50% Bonus of Every Deposit Link:  15% Support Margin Bonus Promo Available to: New and

15% Forex Welcome Deposit Bonus Up to $1000 – XM

15% Forex Welcome Deposit Bonus Up to $1000 – XM(0)

15% Forex Welcome Deposit Bonus Up to $1000 and $30 Forex No Deposit Bonus Welcome Bonus brings Real Account clients the best rewards available. Entering the markets and trading with XM enables you to earn from your trades and build your own bonus up to a maximum of $1,000. Link:  $30 Forex No Deposit Bonus

Free $200 Earn with Binary No Deposit Bonus – Ayrex

Free $200 Earn with Binary No Deposit Bonus – Ayrex(0)

Earn $200 Free with Binary Options No Deposit Bonus to all new activated trading account. Ayrex presents its very first Binary Options No Deposit Bonus for new traders. Sign up to get FREE $30 and turn them into a fully withdrawable $200! Link: $200 Earn with No Deposit Bonus Link:  $100 Free Win in Just One

$30 Free No Deposit Welcome Bonus Campaign – Tickmill

$30 Free No Deposit Welcome Bonus Campaign – Tickmill(0)

$30 Free No Deposit Welcome Bonus Campaign to All new traders. $30 Free Welcome Account is available to all new clients who expressed a wish for it during the registration process. Link:  $30 Free Welcome Bonus Offer Available to: All new traders Ending Date: 31 December 2017 Bonus Offer: $30 Free No Deposit Welcome Bonus

Get $2017 No Deposit Hot Bonus Promotion – FreshForex

Get $2017 No Deposit Hot Bonus Promotion – FreshForex(0)

$2017 No Deposit Hot Forex Bonus Offer to all new verified customers. The $2017 Hot No Deposit Forex Bonus offers you a unique opportunity to test trading strategies of FreshForex Link:  $2017 No Deposit Hot Bonus offers Available to: All New Traders. Ending Date: 30 April 2017 Bonus Offer: $2017 No Deposit Exclusive Hot Bonus

100% Real Money Cash Back Bonus Promotion – UFX

100% Real Money Cash Back Bonus Promotion – UFX(0)

100% Real Money CashBack Promotion 2018 to all new and existing clients. Join and gain exclusive access to the ONLY online trading 100% Cashback rewards bonus program Link:  100% Real Money CashBack Promotion Link:  $50 Forex No Deposit Bonus Promotion Available to: All new trading account Ending Date: 31 December 2017 Bonus offer: 100% Real

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