Written By : ForexAbode.com || Monday, 27 July 2015 05:03 GMT

EUR/USD Daily Analysis - July 27, 2015

Current Exchange Rate: 1.1074 at the time of analysis update.

Intraday overall outlook:  Bearish outlook for EUR/USD.

 
Today was the fifth time during past one month that EUR/USD tried to test 200-day moving average resistance and struggled against it. We expect this resistance to hold and if it does the we expect another decline.
 
On the upside we expect resistance to hold below 1.1120. This resistance is cruicial and in case there is breakout then further consolidation may take place towards 1.1160 to 1.1180 range.
 
In case the resistance holds at or below 1.1120 then we expect a move first towards 1.1020 and in case of a breakout below 1.1005, further decline towards 1.0940 will be expected.
 
Overall we are just taking the recent gains as correction and staying bearish for the pair.
 
From the longer-term perspective we are not ignoring the possibilities of the decline towards 1.0660 to 1.0680 zone.
 
On the upside any break over 1.0950 may target 1.1020 to 1.1035 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 27, 2015

EUR/USD Daily Chart      

EUR/USD daily chart - July 27, 2015

 

EUR/USD testing the resistance of 200-day moving average again.

 

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 (Monday, 27 July 2015 03:40) 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 1.1079 R3 1.1037     R3 1.0998
R2 1.1037 R2 1.101 R2 1.104 R2 1.0991
R1 1.1008 R1 1.0993 R1 1.1014 R1 1.0985
Pivot 1.0966 Pivot 1.0966 Pivot 1.0969 Pivot 1.0966
S1 1.0937 S1 1.0939 S1 1.0943 S1 1.0971
S2 1.0895 S2 1.0922 S2 1.0898 S2 1.0965
S3 1.0866 S3 1.0895     S3 1.0958
Open 1.0987 Open 1.0987 Open 1.0987 Open 1.0987
High 1.0996 High 1.0996 High 1.0996 High 1.0996
Low 1.0925 Low 1.0925 Low 1.0925 Low 1.0925
Close 1.0978 Close 1.0978 Close 1.0978 Close 1.0978

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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