Forex EUR USD Forecast

Forex EUR USD Forecast - Daily published professional analytical forecasts for the main currency pair Market Forex: the EUR USD!

Technical analysis of EUR/USD for 11.02.2019

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Technical market overview:
The EUR/USD pair is continuing the move down as it just closed below the key technical support zone between the levels of 1.1324 - 1.1336 with a low at 1.1320. This is not a good sign for bulls at the beginning of the new trading week as the bearish pressure is still continuing. The next target for the price is seen at the level of 1.1284 - 1.1289.

Forecast and technical analysis EURUSD on February 07, 2019.

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EURUSD: correction expected, followed by a further drop

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On Wednesday the 6th of February, trading on the euro closed down. The euro’s decline was brought about by a broadly stronger dollar across the global Forex market, along with a jump in US10Y bond yields. Bond yields didn’t close the day up, but the growth that did occur led to the opening of long positions on the dollar. During the European session, the euro corrected to 1.1399, before dropping to 1.1361 during trading in the US.

Forecast and technical analysis EURUSD on February 06, 2019.

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EURUSD: pair continues to head south

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On Tuesday the 5th of February, trading on the euro closed down. The pair recommenced its decline as trading opened in Europe, with the drop gathering pace in the US session. By the end of the European session, the euro had dropped to 1.1401 against the dollar despite a disappointing services PMI report in the US.

Forecast and technical analysis EURUSD on February 05, 2019.

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EURUSD: downtrend on the euro continues

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On Monday the 4th of February, trading on the euro closed down. In the US session, the dollar made gains against all the majors on the back of a rise in US10Y bond yields. Traders and investors clearly took positives from the US jobs report on Friday. Growth on the dollar was tempered, however, by disappointing figures for US factory orders. Factory orders fell by 0.6% in November against a forecasted rise of 0.3%. Since this data was for November, the reaction to it was relatively weak. The euro subsequently dropped to 1.1424.

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