EURUSD analysis

ppteam

EURUSD has been going everywhere! One day it's on a free fall, the next day it's zooming upwards... In any case, it seems that the pair finally broke out of its bullish flag last Friday as it rallied all the way back to previous support turned resistance at 1.4380 before giving up some of its gains. It's hard to tell which way the pair would go next as it is right smack in the middle of its trading range. Taking a bullish perspective, potential resistance could be found at 1.4380 (last week's high) and 1.4450 (this year's high). On the other hand, if the pair drops, buying pressures could found at 1.4200 and 1.4100 respectively as both have served as significant support previously.

btw, 偶们早就看了是BULL FLAG之类，
EUR继续向前，不大会深回头。

ppteam

Strong data coming out of euro zone gave risk taking more fuel as the EUR soared against safe-haven currencies such as the USD and the JPY last Friday. It began the day at 1.4255 and closed the week a couple of pips above the 1.4300 handle at 1.4336.

The optimistic data came from the purchasing managers’ index for manufacturing and services all over euro zone. For instance, the German Flash manufacturing PMI unexpectedly printed 49.0 (vs 47.1 forecast) while the services PMI came out at 54.1 (vs 48.8 forecast). This is the sixth consecutive month of improvement in the PMI numbers, indicating that recovery is close.

For today, euro zone’s report on New Industrial Orders for the month of June is due. The forecast is a 1.7% gain. If this holds, it would be the first growth in new industrial orders since September 2008.

Looking further ahead the week, expect to see some significant economic releases. The July German Ifo Business Climate, which is due for release on Thursday 6 am GMT, is predicted to jump to 89.1 from 87.3 indicating that business conditions have somewhat improved. Meanwhile, the German preliminary Consumer Price Index set for release on Thursday will also be closely watched. Deflation fears have been plaguing prospects of economic recovery in the euro zone as of late and the report could provide further insight on this matter. It remained flat at 0% last month and economists expect the same result in August.

It seems like data coming out this week have quite optimistic forecasts. Will investors be pricing in their expectations early and give risk another healthy run? Will the EURUSD pair attempt to set new yearly highs? We’ll have to see where risk sentiment takes the pair this time around!

开小差

PPT baozhu, where do u see german's PMI data? thx.

ppteam

probably not bad. The concern is if it's already priced in.
上次EUR突破后没多久就被打回原形，没有出现大家盼望的BUY STOP局面。有人说是由于大量买家在下面已经买好了，就等数钱。希望这次不同。如果再大回头，就很没意思了。

cowboy11

nice

jmchen

good

marketstudent

A nice quick drop, close my short.
I won't play E/U Long, even though T/A may support it.