EUR USD eyes next support at 0 9720 amid renewed weakness – Scotiabank Eurusd - Banks HEAD TOPICS
EUR USD eyes next support at 0 9720 amid renewed weakness – Scotiabank
10/21/2022 4:24:00 PM EUR USD eyes next support at 0 9720 amid renewed weakness – Scotiabank #EURUSD #Banks
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EUR USD eyes next support at 0 9720 amid renewed weakness – Scotiabank EURUSD Banks The euro cannot resist the dollar’s advance. Economists at Scotiabank highlight the key technical levels to watch. Technical pattern of trade has been Technical pattern of trade has been consistent in the past few months“Since the middle of the year, EUR rebounds have been limited to the 40-Day Moving Average – or levels close to that – ahead of renewed weakness and new cycle lows. So far this week, that pattern is holding, with the EUR capped in the upper 0.98s (40-DMA at 0.9878 today) and turning soft subsequently. New cycle lows remain some way off, however (below 0.95). “In the short-run, we see support at 0.9720 and 0.9675/80 below there.”“Resistance intraday is 0.9800/10.” Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. Read more:
FXStreet News » EUR/USD skates on thin ice below 0.9800 amid sluggish yields, eyes on Fed speakers EUR/USD Outlook Remains Bearish Ahead of the October ECB Meeting EUR/USD Forex Signal: Stuck in a Tight Range as Triangle Pat EUR/USD: No changes to the consolidative stance – UOB Snap Stock Slumps Premarket as Sales Growth Slows Advertisers Cut Spending
Shares plummeted 25% in premarket trading after Snapchat’s parent company said it was operating on an assumption there would be no revenue growth in the current quarter. Read more >> EUR/USD skates on thin ice below 0.9800 amid sluggish yields, eyes on Fed speakersEUR/USD skates on thin ice below 0.9800 amid sluggish yields, eyes on Fed speakers – by anilpanchal7 EURUSD Fed RiskAppetite YieldCurve Currencies EUR/USD Outlook Remains Bearish Ahead of the October ECB MeetingEurozone final inflation came in slightly below market expectations. Risk aversion nudges US Treasury yields higher bolstering the USD amidst growing recession fears. EUR/USD outlook remains gloomy. EUR/USD Forex Signal: Stuck in a Tight Range as Triangle PatThe EUR/USD price retreated as the US dollar made a strong comeback on Wednesday. EUR/USD: No changes to the consolidative stance – UOBMarkets Strategist Quek Ser Leang and Economist Lee Sue Ann at UOB Group still see EUR/USD trading within the 0.9670-0.9860 range in the next few week EUR/USD sellers keep the reins below 0.9800 as yields fuel DXY amid hawkish Fed betsEUR/USD sellers keep the reins below 0.9800 as yields fuel DXY amid hawkish Fed bets – by anilpanchal7 EURUSD RiskAppetite YieldCurve Inflation Central Banks anilpanchal7 Les vendeurs EUR/USD gardent les rênes sous 0,9800 alors que les rendements alimentent DXY au milieu des paris bellicistes de la Fed The euro cannot resist the dollar’s advance.ght calendar day on Friday.Euro -area which puts the ECB on edge for the upcoming policy meeting.It declined to a low of 0. Economists at Scotiabank highlight the key technical levels to watch. Technical pattern of trade has been consistent in the past few months “Since the middle of the year, EUR rebounds have been limited to the 40-Day Moving Average – or levels close to that – ahead of renewed weakness and new cycle lows. DXY prints a three-day uptrend as it pokes 113. So far this week, that pattern is holding, with the EUR capped in the upper 0. The preliminary figure was 10.98s (40-DMA at 0.12% intraday.9878 today) and turning soft subsequently. First, the increase coincided with a slight increase in volatility. New cycle lows remain some way off, however (below 0.30% weekly loss by the press time. Despite the adjustment and avoiding the double-digit mark, inflation pressures remain too high and put the ECB in a difficult position as the economy in the euro-area is nowhere near strong, while also navigating the energy crisis.95). “In the short-run, we see support at 0. US Initial Jobless Claims eased to 214K for the week ended on October 07 versus 230K expected and a revised down 226K prior.9720 and 0. In the United States, interest rates have reached levels not seen since 2008.9675/80 below there.7 for October versus the -5 market consensus and -9. In a statement, Putin declared martial law in the four provinces that it ceased recently. ” “Resistance intraday is 0.9800/10. Additionally, US Existing Home Sales rose past 4. This rise in yields is underpinning dollar strength which also translates into further euro weakness, but also because, in fundamental terms, the U.” Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.71M but eased below 4. You should do your own thorough research before making any investment decisions. From a technical standpoint, during the past two days EUR/USD advanced as investors weighed some positive news items, but the medium-term outlook remains bearish for the currency pair.1% in August. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. Recently, Federal Reserve Governor Lisa Cook mentioned that ongoing rate increases will be required. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress.22% by the press time.9999. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.62%. The EUR/USD also reacted to the latest housing data from the US. The author will not be held responsible for information that is found at the end of links posted on this page.9665 Looking ahead, Eurozone consumer confidence is expected to be released this Friday, ahead of a round of PMI figures on Monday, Germany’s Ifo Business on Tuesday, and the ECB’s monetary policy decision next Thursday. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned.50% intraday downside at the latest. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. During the ongoing EU Summit, Germany drops opposition to the bloc’s natural gas price cap and hence Moscow may convey dislike soon. The author makes no representations as to the accuracy, completeness, or suitability of this information.45 to 1. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Also important to watch will be the preliminary readings of October month Consumer Confidence, expected -30. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.8 prior. .