EUR/USD Technical Analysis from a Newbie (need to be confirmed)

The EURUSD goes up after the FED report, but the pair on the daily chart stays in a consolidation, no clear direction yet.

The single currency marked an increase against the US dollar on Wednesday. The session started at 1.0985 and closed 72 pips higher. The intraday high was reached at 1.0961 and the low at 1.1064. If the keep the direction, we mayn expect a test of first resistance at 1.1100.

Yesterday the EURUSD initially fell but found enough support at 1.0970 key level to reverse and closed near the high of the day, in addition managed to close above the previous day high, which suggests a strong bullish momentum.

The pair closed above the 10-day moving average that now should act as a dynamic support however it continues to trade below the 50 and the 200-day moving averages that are acting as dynamic resistances.

The key levels to watch are: The 50-day moving average at 1.1155 (resistance), the 200-day moving average at 1.1126 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1015 (support) and daily support 1.0900.

EUR/USD bounced off the resistance at 1.1120, but if it breaks above it next target is likely 1.1160, which is (MA)89 on the daily time-frame.

The euro rose against the dollar on Thursday. By the end of the trading session EUR/USD was trading at 1.1076, gaining 0.14%.
I believe that the support is now located at the level of 1.0950, Monday’s low, and resistance is likely at 1.1119 - a maximum of today’s trading.

Tomorrow morning, European banking organization (EBA) will publish the results of stress tests, but the markets are waiting for this event without much interest. EUR/USD reversal points is about the 1.1175/1.1200, where are the highs of the current range.

The single currency marked a modest rise against the US dollar on Thursday. The session started at 1.1057 and closed only 18 pips higher. The graphics continue to develop over the moving averages, while the relative strength index remaine in neutral territory. Should the pair continue to move up, most likely will try test the first resistance at 1.1100.

Yesterday the EURUSD initially rallied but found enough resistance at 1.1097 to trim some of its gains but closed in the green although near the low of the day, in addition managed to close above the previous day high, which suggests a weak bullish momentum.

The pair is trading above the 10-day moving average that is acting as a dynamic support however it continues to trade below the 50 and the 200-day moving averages that are acting as dynamic resistances.

The key levels to watch are: The 50-day moving average at 1.1154 (resistance), the 200-day moving average at 1.1127 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1018 (support) and daily support 1.0900.

EUR/USD is testing the resistance at 1.1120 once again after retracing from it yesterday. The question is whether the fundamentals today will push it above that level.

The euro rose against the dollar on Friday. At the closing of trading session EUR/USD has traded at 1.1174, gaining 0.88%.
I believe that the support is now located at the level of 1.0950, Monday’s low, and resistance is likely at 1.1197 - a maximum of Friday’s trading.

The EUR/USD continued to restore the level of 1.1170, further rise is unlikely for the pair. Particular attention should be paid to the rate of inflation next week, because ECB will be guided by it when adopting additional easing measures at the next meeting.

The euro/dollar on Friday afternoon has grown against the background of weak statistics in the United States. The pair ended the day at 11,72. Since the beginning of the trading session the pair rose by 1.4%. The dollar fell because in the second quarter 2016 US GDP was much worse than expected and amounted only 1.2% q/q instead of expected 2.6%.

The EURUSD has gone back to the 1.1200 level, but it really stays in the range between that level and the 1.0952 level.

Euro recorded successful session against the US dollar on Friday. Thus the single currency recovered from losses in the previous session and neared the resistance at 1.1219. If bullish sentiment continue to dominate, it will be broken soon. The session on Friday opened at 1.0972 and the the euro gained 205 pips to the end of the session. In early trading hours the trend was neutral, but the direction was changed in the afternoon and the pair reached intraday high at 1.1196.

EUR/USD retraced from the resistance at 1.1200 and reached 1.1160, which is (MA)89 on the daily time frame, but the pair will likely continue moving to the upside and test 1.1200 once again. A breakout above that level will probably lead to a further move to the upside towards 1.1230.

Very tight range on Monday, consolidation should continue until the RBA this Tuesday, and the BOE on Thursday.

The euro marked a neutral session against the US dollar on Monday. The single currency remained at the high levels since the end of last week, but couldn’t break the resistance at 1.1219.

Bullish momentum is likely to continue as long as the pair stays above 1.1200 region. My next target is at 1.1280 if the pair break above the resistance level around 1.1235/50 zone.

The euro gained positions against the dollar on Tuesday. The session started at a price of 1.1160, while the euro gained 61 pips. The maximum of the day was reached at the rate of 1.1233 shortly before the end of trading.

EUR/USD had a bullish momentum yesterday, closing above key resistance 1.1200. Overall I still prefer a bearish scenario but this made me stay away for now and wait for a new model. The bias is bullish for testing the lower line of the bullish price channel, localized around 1.1300. A clear break and daily close above that area could lead to further upward pressure to test 1.1400. The first support is at 1.1170/50, whose breach can reactivate the downward pattern for testing 1.1070/50 or lower.