Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Octa trading broker
Open trading account
Back

EUR/USD technical analysis: Euro remains under pressure after ECB’s Knot-inspired spike

  • EUR/USD is under pressure after the release of the US Gross Domestic Product.
  • The market had a bullish spike which covered the entire daily range after comments from ECB's Knot.
  • The level to beat for sellers is the 1.1052 support followed by the 1.1033 level.
 
 

EUR/USD daily chart

 
On the daily time-frame, the shared currency is trading in a bear trend below its main daily simple moving averages (DSMAs). The US Gross Domestic Product Annualized (GDP) came in line with expectations at 2% in the second quarter. Earlier in the London session, the German inflation in August (YoY) came below expectations at 1% vs. 1.2% forecast by analysts. 

EUR/USD 4-hour chart

 
The Fiber is under selling pressure below the main SMAs. The market is trading below the 1.1080 resistance, which is leaving the door open for a potential move down towards 1.1052, 1.1033 and 1.1016 levels, according to the Technical Confluences Indicator.
  
  

EUR/USD 30-minute chart

 
EUR/USD is near the weekly lows trading below the main SMAs, suggesting a bearish momentum in the near term. Immediate resistances are seen at 1.1080, 1.1098 and 1.1117 levels, according to the Technical Confluences Indicator. In the New York session, the market had a bullish spike which covered the entire daily range only to be retraced minutes after. ECB’s Knot said there was “no need to resume a Quantitative Easing program” and “the ECB’s September meeting exactions are overdone.”

Additional key levels

 

ECB's Knot: No need to resume QE program at this time

European Central Bank (ECB) Governing Council member Klass Knot crossed the wires in the last minutes arguing that the ECB does not need to resume the
Read more Previous

United States 4-Week Bill Auction: 2.06%

United States 4-Week Bill Auction: 2.06%
Read more Next