EUR/USD Weekly Breakout

FX:EURUSD   Euro / U.S. Dollar
  • EUR/USD trades in a 1000 pip range since the beginning of 2015
    Ttouched the top of the range last August and reversed to the long-term range low
    Was recovering slowly and trades now at the very important 1.1030 / 1.1095 resistance zone

If the pair closes above the August 2015 - October 2015 descending trendline and the 1030/1095 resistance zone then the space opens up towards the next resistance zone at 1.1350 - 1.1450

As the FED has just started its rate hike cycle and the ECB clearly wants to see the Euro             lower, the heavy upside movement seems to be against the fundamentals.

Contrary to the downward bias EUR/USD             trended higher as risk-aversion is increasing. Implied volatilty levels are increasing. The VIX             indicies are also on the rise. US 10Y yield drops. JNK             , HYG             , EEM             (emerging market ETFs) are heading down. Stock indicies are at least struggling. JPY gains contrary to recent BoJ measures. These all tell that the market is hesitant and till the above conditions do not easy the Euro             is going to be bid.

I believe that this Friday's NFP can be a very good catalyst to increase the risk-aversion level of the currently hesitant market and EUR/USD             targets the long-term range top.

Trade active: Long @ 1.1126
Stop @ 1.0995
Take profit @ 1.1400
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out