Tag Archives: EUR/USD

USD: Outlook & Forecasts

USD: Some key events in July have reinforced our belief that Federal Reserve forward guidance will come under

Shift in message As was expected there were no real fireworks at the last FOMC meeting.

Currencies are diverging as we approach the NA session, a break from the trend of broad-based USD strength that we have observed throughout the week.

EUR/USD is in an underlying downtrend.However, the last two days have displayed largelower shadows,

G10 FX has traded sideways. USDJPY is at 102.89, EURUSD is trading 1.3388, and AUDUSD is flat to its Asian open at 0.9295.

EURUSD: Correction higher consolidation. The 1.3375-50 target/support zone still attracts some buying.

The US employment report and ISM manufacturing will wrap up a busy week.

EUR/USD again found support Thursday ahead of the 100-WMA with s close below last seen in July 2013.

The pair traded a $1.3371 to $1.3399 range overnight in the US but failed to make progress beyond $1.3400.

EUR/USD – bearish bias – (1.3275-1.3575).

The downtrend in Euro shows no signs of a reversal, a basing pattern or waning momentum.

EUR/USD is in an underlying downtrend.However, monitor the support at 1.3367 impliedby yesterday’s intraday bullish reversal (hammerformation).