EUR/USD Weekly Analysis (week of 09-13/11)

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Weekly Summary

Meanwhile, Euro Zone Industrial Production published on Thursday at 10:00 AM came out at -0.4, falling short of the 0.7 projections and continuing its decline from the previous 0.6 figure.

A look at other markets shows behavior that usually indicates a green move for the Euro/Dollar as the Aussie/Dollar gained 0.56% from 0.7231 to 0.7272 (40 pips).

At the same time, Euro/Yen lost 31 pips from the start of the session, trading at 123.75 levels.

In the meantime, at 0.8982, dollar/swiss is down to its lowest value in 5 years. Gold is trading around 1,887 after starting the session at 1,873.3 (up 0.74%). The New-Zealand Dollar is trading around 0.6849 after starting the session at 0.6833 (up 0.24%).

Nov. 13, 2020

Euro/Dollar drifts to 1.1837 up 26 pips

(22:00) GMT

Hesitant but green: from an earlier low of 1.1802, EUR/USD is up to 1.1837, gaining 26 pips compared to 1.1811 at the start of the day (0.22%).

Meanwhile, Euro Zone Industrial Production fell short of the 0.7 projections, at -0.4 and continued its downward trajectory from the previous figure of 0.6. The Data for Spain Consumer Price Index released today at 8:00 AM is better than expected at -0.8, but worse than the previous figure of -0.4. Data for Euro Zone Balance of Trade released today at 10:00 AM came out at 24.8, beating projections of 22 and showing improvement over the preceding figure of 13.9.

A look at other markets shows behavior that usually indicates a green move for the Euro, as the Australian dollar is trading around 0.7272 after starting the session at 0.7231 (up 0.56%). Dollar/Swiss drops to 0.9119 (26 pips).

At 1.1815, Euro/Dollar made an initial breakout above the 5 day Simple Moving Average. Before this recent uptick, Euro got as close as 192 pips to the support line at 1.1644. Dipping below it might have indicated further losses are ahead.

Nov. 12, 2020

Euro crawls to 1.1809 after starting the day at 1.1781 (up 0.24%)

(22:00) GMT

The uptick comes while some more positive signs for the Euro are out as United States Crude Oil Inventories beat expectations of -0.913 with new data release of 4.278. This is also a step forward from the previous data of -7.998.

Meanwhile, Euro Zone Industrial Production published today at 10:00 AM came out at -0.4, falling short of the 0.7 projections and continuing its decline from the previous 0.6 figure. Germany's Consumer Price Index matches projections with new data release of 0.1. indicator value is unchanged and is the same as previous data of 0.1.

The Aussie dropped -0.63% (45 pips) to 0.7235.

In the meantime, after starting the session at 0.6883, Kiwi lost 40 pips and is trading around 0.6843.

Before this recent uptick, Euro got as close as 165 pips to the support line at 1.1644. Dipping below it might have indicated further losses are ahead.

The market is looking forward to Euro Zone GDP, projected to outperform the last figure at 12.7, while it previously stood at -11.8, data will be released tomorrow at 10:00 AM. France's Consumer Price Index is projected to outperform the last figure at -0.1 while it previously stood at -0.5, data will be released tomorrow at 7:45 AM. Spain's HICP (YoY) (Oct) expected to decline to -1, while its preceding data was -0.6, Data will be available tomorrow at 8:00 AM.

Nov. 11, 2020

Euro/Dollar draws back to 1.1783 (down 41 pips) after starting the day at 1.1825,

(22:00) GMT

On the flip side, positive data for Euro released earlier when United States JOLTs Job Openings (Sep) released earlier shows an improvement to 6.436 from the preceding data of 6.352, but falls short of the projected 6.5.

Meanwhile, Germany's ZEW Current Conditions (Nov) released on Tuesday at 10:00 AM is better than expected at -64.3 but down from preceding data of -59.5 according to new data. Data for the Euro Zone ZEW Economic Sentiment Index was released on Tuesday at 10:00 AM, suggests a downwards trend at 32.8, while the previous data was 52.3.

Taking a wider perspective, performance of these other symbols usually suggests a setback for the Euro/Dollar as the Swiss franc is trading around 0.9169 after starting the session at 0.9145 (down 0.25%).

At the same time, New-Zealand Dollar is trading around 0.6885 after starting the session at 0.6832 (up 0.76%).

Before this recent down turn, Euro got as close as 48 pips to the resistance line at 1.1832, Crossing it might have suggested further gains are ahead.

The market will be looking forward to the upcoming release of the following indicators: Euro Zone ECB President Lagarde's speech set for tomorrow at 4:45 PM. Euro Zone Industrial Production is excepted tomorrow at 10:00 AM. Germany's Consumer Price Index figure is projected at 0.1 while it previously stood at 0.1, data will be released tomorrow at 7:00 AM.

Nov. 10, 2020

With no major movement Euro is parked at 1.1819

(22:00) GMT

This in-between state of the Euro is reflected by market data published as Data for Germany Balance of Trade released on Monday at 7:00 AM comes out at 17.8, beating projections of 15.8 and showing improvement over the preceding figure of 15.4. Germany ZEW Current Conditions (Nov) released today at 10:00 AM is better than expected at -64.3 but down from preceding data of -59.5 according to new data. The Euro Zone ZEW Economic Sentiment Index was released with a new figure of 32.8, This is down from the preceding data of 52.3.

Meanwhile, mixed performances are seen elsewhere as Gold added 1.19% to its value, now trading at 1,876.4 Aussie/Dollar is up 0.25% (18 pips) to 0.7288 levels.

The Euro is getting closer and is now only nine pips from the resistance line at 1.1832, Crossing it might suggest further gains are ahead.

Data to be released later might clear up some of the fog for the Euro/Dollar as Euro Zone ECB President Lagarde's speech is expected tomorrow at 1:00 PM. The Spain 10-Year Obligacion Auction is scheduled tomorrow at 10:00 AM. Euro Zone ECB's De Guindos speech is set for tomorrow at 1:30 PM.

Nov. 9, 2020

Euro/Dollar goes back up to Sep. 1 levels, reaching 1.1923

(22:00) GMT

After starting the day at 1.1892, EUR/USD rallied to 1.1923, hitting its highest point in 2 months, It later lost 107 pips and is now trading at 1.1816

Meanwhile, data for the German Balance of Trade released today at 7:00 AM came out at 17.8, beating projections of 15.8 and showing improvement over the preceding figure of 15.4.

The Euro/Dollar is getting closer and is now only 185 pips from the support line at 1.1631. Dipping below it might indicate further losses are ahead.

Taking a wider perspective, performance of these other symbols usually suggests a setback for the Euro/Dollar as the Dollar/Swiss is trading around 0.9133 after starting the session at 0.9003 (down 1.45%).

Positive performance can be seen looking at other symbols, as the Euro/Yen went up from 122.74 to 124.42 (1.37%, 167 pips).

At the same time, Gold is trading around 1,861.3 after starting the session at 1,951.7 (down 90.4 dollars). The New-Zealand Dollar is trading around 0.6821 after starting the session at 0.6775 (up 0.68%).

The market will be looking forward to the upcoming release of the following indicators: Germany's ZEW Economic Sentiment Index looks to be getting worse with an expected 40 while the preceding figure was 56.1, New data will be released tomorrow at 10:00 AM. Germany ZEW Current Conditions (Nov) expected to decline to -65 when its preceding data was -59.5, data will be available tomorrow at 10:00 AM. United States JOLTs Job Openings (Sep) expected to decline to 5.59 when its preceding data was 6.493, Data will be available tomorrow at 3:00 PM. The United States EIA Short-Term Energy Outlook is scheduled for tomorrow at 12:00 PM.