The euro is losing ground against the dollar on Wednesday. The single currency did not meet the positive expectations and recorded a decrease against the dollar. As a result, the support at 1.0568 was pierced after reaching a bottom for the day at 1.0566. Subsequently, however, the losses were partially restored and the currencies finished at 1.0623. If bearish sentiment continue, the pair will test the support at 1.0517.
Yesterday the EURUSD went back and forward with a wide range, creating an outside day then closed in the red at the middle of the daily range, suggesting another down day for today.
The 10-day moving average continues to push the currency down acting as a strong resistance.
The key levels to watch are the 1.0819 (resistance), a Fibonacci extension at 1.0703 (resistance), the 10-day moving average at 1.0651 (resistance), 1.0622 (Support), and 1.0462 (support).
The markets are very still today because of the Thanksgiving.
Yes, I doubt the tight 30-pips EUR/USD range will end before the end of the holidays. Next week however we’ll probably see a move to the downside towards 1.0500.
EUR/USD failed to close yesterday under the support level 1.0600 and back to the 100 pip range I dont expect to see much movement till the end of the week.
Not much movement today, the pair is consolidating in a very tight range around 1.0619 zone, waiting for a breakout to continue further bearish trend.
In my opinion, the next target will be 1,0550.
The EUR/USD dead today, Lets see tomorrow if the pair gonna test the 1.0549 support level.
The EURUSD is consolidating, but it remains weak and the ECB decision may take it even lower.
The single currency recorded neutral session against the dollar on Thursday. Trading was extremely quiet, as the opening price was similar to the closing, respectively, 1.0623 and 1.0609. In the early hours bears prevailed, but later losses were compensated. So the difference between the highest and lowest value for the day was 27 pips. If negative sentiment continue, we may expect break of support level at 1.0565.
Yesterday the EURUSD fell with a narrow range, creating an inside day, due to the Thanksgiving holiday and closed near the low of the day, suggesting a potential pullback for today.
The 10-day moving average continues to push the currency down acting as a strong resistance.
The key levels to watch are the 1.0819 (resistance), a Fibonacci extension at 1.0703 (resistance), the 10-day moving average at 1.0643 (resistance), 1.0622 (Support), and 1.0462 (support).
In my opinion, the next supports will be at 1.0565 and 1.0517.
EUR/USD is currently testing the support at 1.0565 but I doubt it will break below that level before the market closes today.
1.0565 proved today to be a good support for the EUR/USD, But let us see if next week going to be more beneficial and hopefully it will continue to decline.
Almost no movement today on the EUR/USD only 15 pip movement till now.
Eur/Usd starts the week just below 1.0600 level, as the pair enter month December next week, the downside pressure on the Euro could continue until the Fed’s decision.
On Friday session the single currency didn;t mark any significant change against the dollar. The euro ended the session at 1.0598, which technically was the third consecutive negative performance and led EUR/USD to the red territory for the week. Current attitudes remain negative, but a break of the support at 1.0520 will give a chance for testing levels at 1.0460. Very imporatnat fundamentals this week will influence the pair – the meeting of the ECB and labor market data from the US.
On Friday session the EURUSD went back and forward with a narrow range and closed in the red near, in the middle of the daily range also closing within previous day range, suggesting that the pair turn into a consolidation mode and maybe bottom out.
The 10-day moving average continues to push the currency down acting as a strong resistance.
The key levels to watch are the 1.0819 (resistance), a Fibonacci extension at 1.0703 (resistance), the 10-day moving average at 1.0629 (resistance), 1.0622 (Support), and 1.0462 (support).
The forex strategists of Barclays Capital advised investors this week to consider sales of EUR/USD. From a technical point of view, from Barclays Capital provides EUR/USD to move towards 1.0460.
A further move to the downside is inevitable, but range may continue until the ECB press-conference or the US change in Non-farm Payrolls later this week.