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    Page 84 of 84 ... 79 82 83 84
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    Thread: Daily Market Analysis from ForexMart

    1. #831
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      Quote Originally Posted by KostiaForexMart     
      EUR/USD Daily Analysis: June 13, 2019

      The result of CPI data yesterday did not push the EUR/USD to move higher than the 200-MA (weekly) as it was seen below prior to the release. Hence, the traders are likely to focus on the US retail report scheduled on Friday.

      The final CPI data was shown to have increased by 0.2%, meeting the expectations. The unemployment data from Italy also resulted as anticipated in the first quarter of the year. Yet, these data did not have a big impact on the exchange rates.

      For this week, the 200-MA (weekly) presents to be a difficulty. Moreover, the pair is trading importantly around the indicator for a year.

      The pair has tested the August level last year, which was seen to move above it for a few months until it broke down in March. As of recently, the sellers were successful in the rally, which can make trading quite difficult.

      The pattern gives a bearish sentiment on the hourly chart. Soon after the inflation data yesterday, the euro major pair broke lower and the pair reached 1.1260. The support level of 1.1280 also gives psychological significance. The 100-MA is also shown to be converging to the horizontal level.

      On the 4-hour chart, the price level of 1.1280 reflects significance given the ascending channel from the May low at the same area.

      Given the decline, the downturn of the price is expected to move momentarily with the psychological levels at 1.1280 and 1.1260. Given the confluence in the support region, there is a possibility not to reach the next target despite the presence of a flag pattern. Traders may have difficulty in breaking the resistance from the 200-MA.
      Thanks for these regular updates, really useful. Do you use TradingView by any chance?
      Last edited by Julius; 06-13-2019 at 04:56 PM.
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      EUR/USD Daily Analysis: June 14, 2019

      The euro major pair dropped to a range lower than 1.1280 prior to the release of the US retail sales data. It is likely that markets will focus on the Fed more than the retail sales. There is an important shit in expectations after the analysts noted three rate cuts for the year.

      The meeting scheduled next week will determine the policymakers course of action. Meanwhile, the markets are hoping for a signal on their next move, even earlier than the July meeting. Thus, the rally of the EUR/USD was due to the shift. If this is confirmed, then there is a chance for an upward movement.

      There is a high probability that the markets will look for a chance to cell the dollar after the initial reaction in the results of the retail sales prior to the Fed meeting.

      The previous bear flag pattern in yesterday’s report is still significant with the lower target at 1.1260 as the euro major pair heads below with low momentum. Nonetheless, it is still not too far from the target.

      Yet, traders should monitor the level of 1.1280 in the US trading hours. The market tries to push it higher during the early European session but the rally was not sufficient to be sustained.

      The pair stays range-bound on the 4-hour chart. Traders should also get ready to have some volatility in the US session, although it will not be much given that its Friday.

      It is also important to note that a made a breakthrough to the target level of 1.1260 moves to a bearish confluence with a resistance level that is important last week. Hence, there is a possibility to have a retest to defend this area. A break higher than 1.1280 can open chances for an uptrend while the upcoming Fed meeting next week keep the bids for the pair at bay.
      Regards, ForexMart PR Manager

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      EUR/USD Daily Analysis: June 17, 2019

      The euro major pair is consolidating close to the 200-MA on the 4-hour chart after its recent drop on Friday. Nonetheless, the pair has a possibility to bounce upward.

      There was a boost for the pair to move lower due to the US retail sales data which strengthened the dollar. It was not able to hold the level as high as 1.1343 at the beginning of the week even to 1.1200 after the release.

      The Fed meeting is anticipated to be dovish that makes the market uncertain if the rate cut will push through, although there is a chance for the price to be reduced by as much as 20% at the beginning of the European session.

      On the one hand, the futures market did not turn hawkish after the retail sales, as it simply means an extended rate cut took place earlier than anticipated. The possibility of another two rate cuts in the past meeting is still on the plate.

      There is not much expected in the economic calendar except for the speech of Draghi today and tomorrow. Even so, the previous one did not really have an impact on the market. Thus, there might also be no reaction this week.

      Although, a short surge in volatility could take place due to the expected inflation data from the euro.

      There is a horizontal support level at 1.1204 on the 4-hour chart. This level plays an important role, considering the 1.12 level and the 200-MA close to it. A bounce off may take place when the decline fades this week. There was an important rally in late May that supports the decline in the early June.

      There is a strong downward impetus on the hourly chart, considering that there was a bear pattern last week while aiming for 1.1260. When the pair reaches this figure, there is support found below on the descending channel.

      Moreover, since the pair strengthened after the release of the retail sales, it implies the strong presence of sellers and they are determined to take the lead. Hence, recovery is not far from happening at the moment.

      We can expect resistance at 1.1237 in the next trading session and a confluence with 100-MA on the 4-hour chart. If this succeeds, it opens the possibility of the pair to reach the resistance of 1.1260. Any significant changes may occur after the Fed meeting and for now, trading promotes a range-bound movement.
      Regards, ForexMart PR Manager

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