The euro registered a second successful session against the dollar on Tuesday. The single currency justified the positive expectations, partly recovering from the losses last week. The pair recorded peak for the day at 1.1331 and tested the resistance at 1.1329. Despite the attack, the key level didn’t break through, but short-term indicators remain in favor of the euro. Tuesday session started at price of 1.1209 and bulls prevailed. The session ended at a price of 1.1313.
Yesterday the EURUSD pair rose on a wide range day and closed in the green near the high of the day, shy below the 10-day moving average. The currency did not managed to close above the 10-day moving average so until it closes above we may expect some consolidation but a breakdown of previous day low at 1.1207 could accelerate the bearish trend.
Tomorrow is the ECB press conference and the interest rate decision The market will have a high volatility.
The EUR/USD fell today after the US Dollar pushes higher as China concerns ease, but tomorrow ECB will move the market.
Indeed, EUR/USD is back to testing the support at 1.1240 but I doubt anything will come of it before the ECB rating decision tomorrow.
The euro depreciated against the dollar on Wednesday. Upward momentum was interrupted, and the break of resistance at 1.1329 was postponed. If negative move continues in the future, the couple will most likely overcome the support at 1.1105 and will test the level of 1.1016. The session started at a price of 1.1312 as the bear trend prevailed throughout. Bottom of the day was hit at 1.1216 shortly before the end of trading. The session closed at a rate of 1.1225.
Yesterday the EURUSD pair fell on a narrow range day, creating an inside day and closed well in the red near the low of the day. The currency failed once again to close above the 10-day moving average but all eyes now turn to the ECB Interest rate decision and monetary policy statement and press conference that should stay unchanged.
ECB kept the interest rate as it is and increased the issue share limit from 25% to 33%, EUR USD reacted to the move of the ECB and fell to reach 1.090 which is a strong support line and rebounded from there. still tomorrow there is the NFP.
The EUR/USD dropped more than 120 pip in an hour today, and that is what i was talking about, happy hunting day.
Yesterday the EURUSD pair fell on a wide range day and closed well in the red near the low of the day, shy above the 200 and 50-day moving averages. The currency fell after the ECB revised down the GDP and inflation forecasts for 2015-2017. Today we have the Nonfarm payrolls which are expected to rise to 220K in August from the 215K in July. A breakdown of the daily resistance 1.1097 would set ground for a further fall to daily support at 1.0900.
The single currency recorded a second consecutive loss against the dollar on Thursday. The pair broke the support at 1.1105 but finished above its levels. Short-term indicators remain in favor of the US currency, giving a request for continuation of the negative trend until the support at 1.1016. The session started at a price of 1.1223 as at the beginning the trend was neutral. Significant decrease was noted in the afternoon when currencies hit bottom for the day at 1.1087. The session ended with 35 pips up.
The pair is still consolidating just above 1.1100 level post NFP.
Not much of a movement on the EUR/USD because of the mixed data of positive unemployment rate and negative NFP
EUR/USD reached the support at 1.1090 and bounced off of it, but if it breaks below that level it might reach 1.1000, perhaps even 1.0950.
EUR/USD consolidated the whole day in a tight range under the 1.1090 level. Hope we see valuable moves next week.
I really hope we will finally see some serious movement on the EUR/USD chart because this range has been going on for months now.
It’s getting more and more difficult to trade during NFP. Market goes straight up and then suddenly straight down (or vice versa) just to get rid all sell / buy orders. Also, this movement can destroy your pending orders (sell stop / buy stop), if you have placed any and wait for the news to get some $$$. Unfortunately, lately the movement is not in one direction only.
According to the analysts, even though NFP report headline number of 173,000, butthe details of the report were more encouraging.
The small gap up has already closed, the pair is back to range.
On Friday session the EURUSD pair initially fell but found enough buying pressure to turn around and close in the green near at the middle of the daily range. The currency made a narrow range thus creating an inside day, signs that daily support at 1.1097 is holding the price. Today, September 7th, the US Banks are closed for Labor Day and as a result the pair should stay in a ranging mode.