It seems like the pair is far from parity now.
EUR is so strong against the USD right now that it might hit the 1.1375 level this week. Watch out
You may be right and beyond… what good data has come from obamas great state lately? 0000000!
Na zdrowie,
Tim
On the upside, the pair seems have lost it’s strength and downside movement seems limited above 1.1100 level.
EUR/USD recorded a decline on Friday. The session started at 1.1206 and the euro lost 54 pips after the US NFP report proved weaker than expected. Daily extreme values were reached respectively at 1.1243 and 1.1109. If the downward trend continues, the euro will reach the support at 1.1100.
On the last Friday’s session the EURUSD tried to rally but found enough resistance at 1.1237 to reverse and closed in the red, near the low of the day, however managed to close within the previous day range, suggesting a weak bearish momentum.
The pair continues to close above the 10, 50 and the 200-day moving averages that are acting as dynamic support.
The key levels to watch are: The daily resistances at 1.1460, other daily resistance at 1.1237, daily support at 1.1097, the 200-day moving average at 1.1028 (support), the 10-day moving average at 1.0961 (support) and the 50-day moving average at 1.0909 (support).
that was a fun morning! i was expecting a quiet one
Or has it bro…
Have a look at the daily
Now, of course, this is just my humble opinion.
But an object in motion will continue in that motion until an external force with sufficient magnitude acts on it. We’re pretty clearly trading in a ranging market. And the price is smack bang in the middle.
Which way will it go no-ones knows? But my view is that it is more probable that the market will continue on this up leg for another few weeks to reach 1.14 maybe higher. But then turning and heading south again quite possibly very quickly back below 1.09. Continuing what it’s all ready doing and trading in this set range.
I could be wrong. Horribly, horribly wrong.
But we would need a significant, really big, gee wiz why didn’t I see that coming type news event to knock this pair off course.
Wonder if old mate Jake is reading this. Like to hear his view on my chart. Hint hint bro.
On another note, do you think Hyper was referring to the main participants in this thread over here http://forums.babypips.com/forextown/78467-proof-nobody-really-has-clue-what-theyre-talking-about.html
You are right, Bob…
I do not trade this pair anyway…
Maybe the ECB March rate decision may provide fuel for breaking this complacency…
The pair reached the support at 1.1086, formed a hammer candlestick on the one-hour time frame and started moving to the upside again. It’s currently testing the resistance at 1.1140 and a breakout above that level would mean that it will likely continue climbing towards 1.1180 - 1.1200.
The pair started rising. The main fundamental factors remain to support the US dollar. The rise last week showed that the time for correction has come.
EUR/USD is stuck between support and resistance 1.100 - 1.1200 for the past 3 days.
Yes Sherif and we stuck with it too, Hope the EUR/USD continue to climb to 1.1400 level this week.
That’s very true, on the upside, the pair lack of strength to go above 1.1200 handle, and with limitation on the downside too Eur/Usd is still directionless.
The single currency recorded an increase against the US dollar on Monday. After a volatile session, the euro added 51 pips at a closing price of 1.1192 points. The pair bounced from support at 1.1100 and headed up. If the upward trend continues, the pair will test the first resistance at 1.1286.
Yesterday the EURUSD initially fell but found enough support at 1.1097 to turn around and close near the high of the day, however closed within the previous day range, suggesting a weak bullish momentum.
The pair continues to close above the 10, 50 and the 200-day moving averages that are acting as dynamic support.
The key levels to watch are: The daily resistances at 1.1460, other daily resistance at 1.1237, daily support at 1.1097, the 10-day moving average at 1.1045 (support), the 200-day moving average at 1.1026 (support), and the 50-day moving average at 1.0923 (support).
In my opinion the next interesting levels to watch for are: Support - 1.1100; 1.0975; 1.0854; Resistance - 1.1286.
The move to the upside continues, the pair will likely reach 1.1400 soon and I think it’s possible it will reach 1.1500 too in the foreseeable future.