EURUSD Daily Analysis – September 26, 2016
EURUSD is forming a sideways consolidation in a range between 1.1123 and 1.1326.
EURUSD is forming a sideways consolidation in a range between 1.1123 and 1.1326.
Risk is on the menu at the start of this new week with stocks, crude oil and commodity currencies all climbing higher, while the dollar is easing back slightly after Friday’s rally.
The EURUSD pair initially took off to the upside during the day on Thursday, but turned right back around below the 1.1350 level to form a shooting star.
The EURUSD pair went back and forth during the course of the day on Monday, essentially settling nothing. Perhaps lack of volume was part of the problem as Americans were away for Labor Day.
EURUSD continued its downward movement from 1.1366 and the fall extended to as low as 1.1123.
The EURUSD pair fell slightly during the course of the session on Wednesday, as we continue to try to find buyers just below.
The EURUSD pair initially tried to rally during the course of the session on Monday, but then broke down at the 1.1350 level.
The EURUSD pair initially fell during the day on Monday, but turned right back around and form a bit of a hammer.
The EURUSD pair fell significantly during the day but did bounce a bit by the end of the day on Friday.
The GBPUSD ended higher last week on the back of surprisingly stronger-than-expected UK economic data and as the dollar eased along with expectations about an imminent rate hike in the US.