EUR/USD Bulls Broke Psychological Level at 1.0600
April 11, 2017 11:28 amVideo
Latest News
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
- EUR/USD: trading tips for beginners for European session on April 16 April 16, 2024
EUR/USD has turned bearish since March 28, as a result of the strengthening of the dollar. It has plunged almost 2% from March 28 to April 10. However, EUR/USD has rebounded since Monday April 10, after hitting a 1-month low of 1.0568. This morning, we saw the release of a series of German and Eurozone economic data. The German ZEW economic sentiment and current situation (Apr), were 19.5 and 80.1 respectively, both better than expectations and the previous figures. The Eurozone ZEW economic sentiment (Apr) was 26.3, better than expectations and the previous figure. The Eurozone industrial production (YoY) was 1.2%, lower than expectations, however, better than the previous figure. Overall, the performance of the data was neutral. This morning, the EUR/USD bulls broke the psychological resistance level at 1.0600 after the release of the data. On the 4-hourly chart, the price has been moving from the lower band to the middle band by the Bollinger Band indicator, suggesting the bearish momentum has waned. The daily Stochastic Oscillator is around 20, suggesting a rebound. The resistance level is at 1.0620, followed by 1.0640 and 1.0655. The support line is at 1.0600, followed by 1.0585 and 1.0570. Keep an eye on the German CPI (Mar), to be released on Thursday April 13, at 07:00 BST, as well as the US retail sales, to be released on Friday at 13:30 BST. It will likely affect the strength of EUR/USD.
Source: FX Pro Market Snapshot
Related Posts: