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Euro slips below 1.13 but recoversThe euro lost ground earlier on Thursday but has recovered most of these losses. EUR/USD is currently trading at 1.1337, down 0.08% on the day. With a very light economic calendar this week, the markets are being driven by sentiment, which essentially means the latest Omicron headlines. The markets remain fairly upbeat, despite the explosion in Omicron infections. France and the US posted all-time record highs for the number of new cases, but that hasn't made a dint in investor sentiment. The equity markets are humming, with the S&P 500 and Dow Jones posting record highs, while the safe-haven dollar is broadly lower as risk tolerance remains elevated. This upbeat mood was reinforced by a larger than expected decline in US crude oil inventories and an unemployment claims release of 198 thousand, which was better than expected. This suggests that the US economy continues to perform well, even with the newest Covid wave. ECB President Christine Lagarde has been rather dismissive of inflationary pressures, even with eurozone inflation hitting a record 4.9% y/y in November. The ECB this month projected that inflation will fall to 1.8% after 2022, but this view is by no means unanimous. In an interview published on Thursday, ECB member Klaas Knot said that eurozone CPI could well remain above the bank's 2% target for years and that the bank's forecast "could prove to be too rosy". The ECB has no plans to change its accommodative policy, and plans to continue QE even while winding up its emergency pandemic programme (PEPP) in March 2022. Spain's Flash CPI for December is estimated at 6.7%, much higher than the 5.5% gain in November. If eurozone CPI releases in early January also show an uptick, we could see additional ECB members echo Knot's view that inflation could stay above the bank's 2% target in the coming years. . EUR/USD has support at 1.1255. Below, there is support at 1.1190 There is resistance at 1.1364 and 1.1408
by OANDA
1
WILL BANKS BUY EUR/CAD ?TECHNICALS We notice that price has come to a weekly support zone of 1.43025 which what created during mid feb. we are noticing some bullish movement on the smaller time frames so this could mean that support is holding firm and i dont think that price will break below support zone but however may retest then be bought till resistace zone of 1.46087 FUNDERMENTALS TUESDAY, OCTOBER 19 13:10 EUR ECB's Elderson speech 14:00 EUR ECB's Panetta speech 16:00 EUR ECB's Lane speech WEDNESDAY, OCTOBER 20 08:00 EUR Producer Price Index (MoM)(Sep) 09:20 EUR ECB's Elderson speech 09:50 EUR ECB's Elderson speech more news available on fxstreet
Long
by LUNGU_FX
EUR/GBP Volume areas 📊 And Price Action AnalysisHello guys, today, I will have a closer look at the EUR/GBP. What caught my eye at first was a strong selling activity yesterday (that huge red candle you can see in the picture below). Such a strong and rapid sell-off is a sign of aggressive sellers. Those sellers were most likely building up their Short positions in the rotation that took place before the sell-off. Those heavy volumes that were accumulated before the sell-off are quite important and I think those were the BIG institutional traders getting ready before manipulating the price downwards. When the price makes a pullback into this area again (starting around 0.8546) then those BIG guys will want to defend this zone and push the price downwards again. This is what should make this zone a strong Resistance. A Two-Week POC Another nice addition to this Resistance is that it is a very significant volume-based level even from the bigger perspective. This Resistance also represents a place where the heaviest volumes throughout the last two weeks got traded! This means it is a two-week POC ( Point Of Control ). You can see that on the picture below, where I merged two weekly Volume Profiles into one two-week Volume Profile. This is another thing that adds strength to our Resistance around 0.8546. I hope you guys liked my analysis! Let me know what you think in the comments below! Happy trading, -Dale
by Trader_Dale
3
EURUSD short setup. EURUSD is at good level, I will short after breaking the trend line. Risk Management Alert: The meaning of second target (Always take 60% profit of your first target and keep your 40% running to second target, in this case if any reversal happens your safe and secured, to make this better, move your stop loss to STOP PROFIT which is above your entry level of 10-15 pips after hitting your first target, and up to you as long as it not negative, This way you don't regret holding or exiting early. That’s 75% Profit from your idea or mine :D, Why this is good, Let's say you exited early, now you will be looking for another entry in this case you not sure if this is a reversal or a continuation of a trend and TRUST ME its not Easy to find. Most of traders just throwing ideas without explaining why, how, and when... they just draw some beautiful butterfly's, sea-waves, waterslides, matrix moves, EVEN Some HOLY GRILL indicator, at the end all comes to risk management and key levels, markets will always do what they want to do. Good luck.
Short
by binM