Euro: USD/EUR (EUR=X) regaining ground after recent decline



The Euro (EUR) has firmed against the US Dollar (USD) today, hitting an exchange rate of $1.1738.

This is resilient trading in the face of the latest Eurozone data, which has revealed a faster pace of inflation but slowing GDP growth.

On the plus side, July’s annual Eurozone inflation rate flash has shown a rise from 2% to 2.1%, moving above the European Central Bank (ECB) target.

A sustained move over 1.1680 will indicate the presence of buyers. If this attract enough interest, the EUR/USD could really back to 1.1720.

Crossing to the strong side of 1.1720 will indicate the buying is getting stronger. However, the Euro is going to have to take out 1.1751 in order to have a chance at a breakout to the upside.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 1.18.

The projected lower bound is: 1.15.

The projected closing price is: 1.17.



Momentum Indicators


Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 57.7128. This is not an overbought or oversold reading. The last signal was a sell 16 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 49.30. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 45 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 14. This is not a topping or bottoming area. The last signal was a buy 8 period(s) ago.



Rex Takasugi – TD Profile

FOREX EUR= closed down -0.001 at 1.168. Volume was 78% below average (consolidating) and Bollinger Bands were 60% narrower than normal.

Open High Low Close Volume___
1.169 1.169 1.168 1.168 30,480

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 1.17 1.17 1.20
Volatility: 7 9 9
Volume: 133,262 152,532 129,983




The following two tabs change content below.

You must be logged in to post comments :