Written By : ForexAbode.com || Tuesday, 14 July 2015 05:22 GMT

EUR/USD Daily Analysis - July 14, 2015

Current Exchange Rate: 1.1026 at the time of analysis update.

Intraday overall outlook:  Neutral outlook for EUR/USD.

 
EUR/USD moved the way we had indicated yesterday but the second level of the support came 11 pips ahead of what we had mentioned. Overall outlook stays bearish but initially we are staying neutral to expect some more upward consolidation. 
 
Yesterday was the third time when EUR/USD failed to break over 200-day moving average once again. As we had mentioned yesterday that since June 4th this resistance level is proving to be critical as the breakout in-between had failed to sustain.
 
On the upside we expect resistance to hold near 1.1080. If that resistance holds then a retest of 1.0965 should be the next target. Any break below 1.0965 should take the pair towards 1.0954 first and any break of that should take the pair 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.
 
On the upside any break over 1.1080 may target 1.1120 to 1.1140 resistance zone.
 
From the longer-term perspective we are not ignoring the possibilities of the decline towards 1.0660 to 1.0680 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 14, 2015

EUR/USD Daily Chart      

EUR/USD daily chart - July 14, 2015

 

EUR/USD after finding resistance at 200 day SMA level for the third time.

 

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 (Wednesday, 15 July 2015 01:16) 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 1.1186 R3 1.1136     R3 1.103
R2 1.1136 R2 1.109 R2 1.1131 R2 1.1019
R1 1.1066 R1 1.1062 R1 1.1057 R1 1.1008
Pivot 1.1016 Pivot 1.1016 Pivot 1.1011 Pivot 1.1016
S1 1.0946 S1 1.097 S1 1.0937 S1 1.0986
S2 1.0896 S2 1.0942 S2 1.0891 S2 1.0975
S3 1.0826 S3 1.0896     S3 1.0964
Open 1.0983 Open 1.0983 Open 1.0983 Open 1.0983
High 1.1085 High 1.1085 High 1.1085 High 1.1085
Low 1.0965 Low 1.0965 Low 1.0965 Low 1.0965
Close 1.0997 Close 1.0997 Close 1.0997 Close 1.0997

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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