BUZ INVESTORS Trade Idea EURUSD Sell The EURUSD increased 0.0051 or 0.46% to 1.0975 on Monday May 15 from 1.0924 in the previous trading session. Historically, the Euro Dollar Exchange Rate – EUR/USD reached an all time high of 1.87 in July of 1973 and a record low of 0.70 in February of 1985. The euro was only introduced as a currency on the first of January of 1999. However, synthetic historical prices going back much further can be modeled if we consider a weighted average of the previous currencies.
Trade Idea EURUSD Sell This morning at 09:40 GMT, the EUR is trading at 1.0950 against the USD, 0.18% higher from the New York close. In economic news, Italy’s consumer price index advanced on a monthly basis in April. This morning, the pair traded at a high of 1.0954 and a low of 1.0920. The Euro traded 0.22% higher against the US Dollar in the New York session on Friday, with the pair closing the session at 1.0930. The pair is expected to its find support at 1.0894 and its first resistance at 1.0980.
Euro has staged a strong rebound after falling to 1.0839, suggesting consolidation above this level would be seen and near term upside risk remains for further gain to 1.0997 resistance, however, if our view that top has been formed at 1.1025 is correct, upside would be limited and price should falter below recent high at 1.1025, bring another decline later. Below 1.0895-00 would bring weakness to 1.0855-60 but break there is needed to retain bearishness an extend the fall from 1.1025 top to 1.0821, then 1.0795-00 later.
In view of this, we are still looking to sell euro on further subsequent rebound as 1.0997 resistance should limit upside. Only break of said resistance at 1.1025 would abort and signal early upmove has resumed instead, bring further gain to 1.1050-55 and later 1.1075-80 before prospect of another retreat.
|1.10||1.09||1.87||0.70||1957 – 2017||Daily|
|Euro Area Markets||Last||Previous||Highest||Lowest||Unit|
|Government Bond 10y||-0.45||-0.45||2.57||-0.50||percent||[+]|
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