EUR/USD, tough position for the euro!

mario urlic forex eur-usd 29.02.

I wrote in my EUR/USD analysis from Friday that the support 1.0910/40 will stop the fall and it did, from where the pair bounced up and close the day and week at 1.0939. But, despite the bullish beginning of the new week in which the euro reached daily MA100 and high of 1.0962, previous support trend lines are now the resistances. This is a tough position for the euro buyers, in which the sellers are in better position, despite support at 1.0910, which still hold on the way down. If that support will be broken, next target for the sellers could be 1.0800 > 1.0700!? I wrote in my comments in the last EUR/USD analysis that daily MA100 will be the problem on the way up in this week and it was, with trend lines beside as a ‘hellpers’ for the bears. EMU Conusmer Price Index is coming up in about 10 minutes, we could see more move here.

10:00 h (GMT) – EMU Consumer Price Index (YoY) Feb. > Previous 0,3%, Expectation 0,0%, Update -0,2%!!!

10:00 h (GMT) – EMU Consumer Price Index – Core (YoY) Feb. > Previous 1,0%, Expectation 0,9%, Update 0,7%!!!

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4 comments

  • Ecimovic Bojan

    Pozdrav, mislim da je euro konacno na ozbiljnijem otporu za long. Setup na e/u bas i nije dobar da bi se ulazilo u pozicije ali zato na eur/aud izgleda bas dobro sa obzirom da se zaustavilo bas na liniji trenda koja se uglavnom ispostuje vec mesecima. Vredi pogledati, ja sam postavio nalog na cekanju za long ako se cena opet vrati na 1.5005 sl 35 pipsa tj. 1% malo uzak obzirom da je par jako agresivan ali videcemo. R:R je 1:10 i to lagano vrlo moguce da tu moze i mnogo vise.

    ako neko prati neka isprati komentarom da se pomazemo medjusobno 😉

    Like

    • To be honest I don’t see that major support at EUR/AUD, not before 1.4800/30. Before that, there is also a Monthy MA100 at 1.4870. But, in the next week we have an ECB Interest Rate Decision and Monetary press conference and it could be very important for the euro and furder move.
      Btw. The EUR/AUD rebounded here at 1.4984 because of the AUD/USD strong daily resistance at 0.7245/55.

      Like

      • Awasome comment and prediction as usual. Great. EUR/AUD in this moment at 1.4895. 🙂

        Liked by 1 person

  • Nice timing, thanks.

    Liked by 1 person

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