Forex EUR USD Forecast

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

Forecast and technical analysis EURUSD on November 10, 2017.

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EURUSD: trading to close at around 1.1620

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On Thursday the 9th of November, trading on the euro/dollar pair closed up. The trend line was broken through as I expected. After breaking the resistance zone around 1.1606, the euro jumped to 1.1655. The US dollar came under pressure from the fact that the new tax reform legislation proposed by the Senate includes deferring a corporate tax break until 2019.

Forecast and technical analysis EURUSD on November 09, 2017.

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EURUSD: increased risk of rising to 1.1660

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On Wednesday the 8th of November, trading on the euro/dollar currency pair closed slightly up. The euro traded against the dollar within a narrow range of 1.1579 to 1.1611 (32 pips). During the US session, sellers tried to break the 1.1580 support, but fell short. The price then restored to 1.1599.

Forecast and technical analysis EURUSD on November 08, 2017.

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EURUSD: rebounds paint an unclear picture

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On Tuesday the 7th of November, trading on the euro/dollar pair closed slightly down (-19 pips). In Europe, the euro dropped to 1.1554 as the US dollar rose across the board. The head and shoulders model looks to be continuing its formation and a sharp reversal looks on the cards.

Forecast and technical analysis EURUSD on November 07, 2017.

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EURUSD: correction to 1.1640 still on the cards

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On Monday the 6th of November, the euro/dollar pair closed just 2 pips away from Friday’s closing price, leaving a long tail on the daily candlestick that reaches down to 1.1580. During the European session, the euro dropped to 1.1580. The main forces behind this were BoE governor Mark Carney’s speech and a drop for US bond yields and crosses involving the euro.

Forecast and technical analysis EURUSD on November 06, 2017.

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EURUSD: price correction following payrolls

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On Friday the 3rd of November, trading on the euro/dollar pair closed down. Volatility surged during the US session. I don’t even know whether the stop levels of intraday traders managed to withstand the US data or not.

Forecast and technical analysis EURUSD on November 03, 2017.

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EURUSD: price consolidating as NFP looms

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On Thursday the 2nd of November, trading on the euro/dollar pair closed up. Euro bulls got some unexpected support as sellers shorted the pound following the Bank of England’s meeting. The pound shed 163 pips against the euro to reach 0.8939, while dropping 227 pips against the US dollar to hit 1.3043. The euro rose against the dollar to 1.1687, returning to around 1.1658 by the end of the day.

Forecast and technical analysis EURUSD on November 02, 2017.

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EURUSD: head and shoulders model may not work out

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On Wednesday the 1st of November, trading on the euro/dollar pair closed down at 1.1618. The 45th degree at 1.1607 prevented the euro from falling any further. Sellers were unable to break this level even after some strong US data and the conclusion of the FOMC’s meeting.

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