Written By : ForexAbode.com || Thursday, 02 July 2015 05:22 GMT

EUR/USD Daily Analysis - July 02, 2015

Current Exchange Rate: 1.1076 at the time of analysis update.

Intraday overall outlook:  Bearish outlook for EUR/USD.

EUR/USD moved as we had indicated yesterday and broke below the second target of 1.1058 to touch 1.1032 before entering a sideways mode. 
 
The immediate outlook remains bearish as long as the first expected resistance at 1.1087 to 1.1095 holds. With this resistance in place any break below 1.1032 should target 1.0954 next and the possibly 1.1070 next.
 
On the upside a break over 1.1095 should extend the gains to 1.1120/1.1125 resistance zone.
 
Do also check all updates of EUR/USD analysis and outlook
 

EUR/USD Daily and Hourly Charts

EUR/USD Hourly Chart      

EUR/USD hourly chart -July 02, 2015

EUR/USD Daily Chart      

EUR/USD daily chart - July 02, 2015

 

EURUSD finds resistance at 200 day moving average level before falling and breaking below the support trend line..

 

EUR/USD Interest Rate Comparison
(For Carry Trade)
Euro (EUR) interest rate
0.50%
US dollar (USD) interest rate
0.10%
EUR/USD interest Rate Comparison
0.40%

EUR/USD Resistance and Support with Daily Pivot Points (Values at GMT 00:00)

Last Updated (Friday, 03 July 2015 01:54) GMT

Standard Pivot Point for EUR/USD Fibonacci Pivot Point for EUR/USD Woodie Pivot Point for EUR/USD Camarilla Pivot Point for EUR/USD
R3 1.1218 R3 1.1169     R3 1.1121
R2 1.1169 R2 1.1137 R2 1.1173 R2 1.1113
R1 1.1134 R1 1.1117 R1 1.114 R1 1.1106
Pivot 1.1085 Pivot 1.1085 Pivot 1.1089 Pivot 1.1085
S1 1.105 S1 1.1053 S1 1.1056 S1 1.109
S2 1.1001 S2 1.1033 S2 1.1005 S2 1.1083
S3 1.0966 S3 1.1001     S3 1.1075
Open 1.1037 Open 1.1037 Open 1.1037 Open 1.1037
High 1.1121 High 1.1121 High 1.1121 High 1.1121
Low 1.1037 Low 1.1037 Low 1.1037 Low 1.1037
Close 1.1098 Close 1.1098 Close 1.1098 Close 1.1098

EUR/USD's Correlations with other currency majors

EUR/USD Correlation Values:
 
EUR /USD
P
e
r
i
o
d
E
U
R
/
U
S
D
AUD
/USD
EUR
/CHF
EUR
/GBP
EUR
/JPY
GBP
/USD
NZD
/USD
USD
/CAD
USD
/CHF
USD
/JPY
1
W
e
e
k
1 0.78 0.28 0.82 0.51 0.77 0.54 -0.28 -0.89 0.02
1
M
o
n
t
h
1 -0.66 -0.65 0.24 0.15 0.36 0.78 -0.8 -0.96 -0.63
1
Y
e
a
r
1 0.22 -0.67 -0.71 0.9 0.9 0.85 0.55 -0.99 0.69

EUR/USD Correlation Graph:
 
0.78
   
0.22
   
 
0.28
   
-0.67
   
 
0.82
   
-0.71
   
 
0.51
   
0.9
   
 
0.77
   
0.9
   
 
0.54
   
0.85
   
 
-0.28
   
0.55
   
 
-0.89
   
-0.99
   
 
0.02
   
0.69
   
   
0.78
   
0.22
 
   
0.28
   
0.67
 
   
0.82
   
0.71
 
   
0.51
   
0.9
 
   
0.77
   
0.9
 
   
0.54
   
0.85
 
   
0.28
   
0.55
 
   
0.89
   
0.99
 
   
0.02
   
0.69

Notes and caution about Forex analysis for EUR/USD

The daily EUR/USD analysis is not just based on technical indicators but also takes into account the overall price action and other aspects which can affect the Forex market in general and EUR/USD price action specifically. Please also note that many times the price mentioned at the time of analysis update maybe different than the entry level suggested. These positions would mean limit orders for buying or short-selling. Hence please do not treat this analysis just as trading signals for EUR/USD.

However, please note that the analysis reflects our views about the currency market based various factors. Forex trading is a speculative market and the price may always have unpredictable moves. We cannot take the responsibility for any losses dues to and positions taken based on our views.

Please check the Current EUR/USD Exchange Rate.

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