Written By : ForexAbode.com || Tuesday, 07 July 2015 05:05 GMT

EUR/USD Daily Analysis - July 07, 2015

Current Exchange Rate: 1.0974 at the time of analysis update.

Intraday overall outlook:  Bearish outlook for EUR/USD.

 
EUR/USD's break of 1.0954 support was the highlight. Though this break did not prove to be decisive but highlights the fact that bearish sentiments are in control. 
 
With another break below 1.0954 we would expect the decline to test 1.0887/1.0900 support first. If this support also fails then the next target should be 1.0820 to 1.0840 support zone.
 
From the longer-term perspective we are not ignoring the possibilities of the decline towards 1.0660 to 1.0680 zone.
 
On the upside we expect resistance at or below 1.1045.
 
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 07, 2015

EUR/USD Daily Chart      

EUR/USD daily chart - July 07, 2015

 

Eur/USD's break of a crucial support level.

 

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 (Tuesday, 07 July 2015 02:08) 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 1.1201 R3 1.1148     R3 1.1077
R2 1.1148 R2 1.1109 R2 1.1149 R2 1.1068
R1 1.1099 R1 1.1085 R1 1.11 R1 1.1058
Pivot 1.1046 Pivot 1.1046 Pivot 1.1047 Pivot 1.1046
S1 1.0997 S1 1.1007 S1 1.0998 S1 1.104
S2 1.0944 S2 1.0983 S2 1.0945 S2 1.103
S3 1.0895 S3 1.0944     S3 1.1021
Open 1.0995 Open 1.0995 Open 1.0995 Open 1.0995
High 1.1096 High 1.1096 High 1.1096 High 1.1096
Low 1.0994 Low 1.0994 Low 1.0994 Low 1.0994
Close 1.1049 Close 1.1049 Close 1.1049 Close 1.1049

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.

Forex Trading Alerts subscription


Name:
Email:
Confirm Email:
6+6

We will send email alerts as soon as the Forex analysis is updated.
Request you to check the Junk (spam mail) folder immediately in case Google group mail is not received in Inbox.

Enter Forexabode Blog

Enter Forex Abode Community

Forex Rates