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.
It’s a very quiet Monday, the pair is trading flat, back to the familiar range around 1.1150.
A narrow range for the start of the week.
The euro recorded a minimal increase against the dollar on Friday. EUR / USD started the daily session at 1.1122 and ended with a profit of 21 pips, which could not compensate weekly losses of the single currency at a rate of 0.3%. Trading on Friday was held within 1.1091 and 1.1179. The graphics developed under low moving averages, while the relative strength index remained at negative territory, suggesting continuing dominance of bears and a test of 1.1055.
The market in a pause today cause of the labor day in the united states of America. Waiting for tomorrow to open a position.
Today was a very slow day for EUR/USD but I think that the pair is bouncing off the support at 1.1100 and we can expect another move to the upside soon.
The euro recorded a minimal increase against the dollar on Monday. The pair started the daily session at 1.1162 and ended with a gain of only 6 pips. Trading on Friday was held within 1.1121 and 1.1177. The index of relative strength remains into neutral territory. Test of resistance at 1.1180 is possible while the Bulls dominate.
Yesterday the EURUSD initially fell but found enough buying pressure to turn back around and close in the green near the high of the day. The currency made a 2nd straight narrow range day suggesting that a break above or below of this inside day will be explosive. Levels to watch today: 1.1237 (Resistance) and 1.1097 (Support) and a break above the resistance or a break down below support would set the tone for the mid-tem.
Eur/Usd is testing 1.1200 level again, but failed to sustain the gains and fell back around 1.1170. On the downside, the immediate support can found at 1.1120.
EUR/USD is still around support line 1.11560 which is a strong point for the price breaking this point will push the price further down. But still EUR/USD is moving in a narrow range.
The EUR/USD rose up to 1.1229 and slide down close to the opening 1.1159 by the end of the day what is makes me feel that the market expecting violation soon.
EUR/USD is currently moving to the upside again but it is also forming a flag, so it’s possible it will drop again when it reaches the resistance at 1.1240.
The single currency recorded an increase against the dollar on Tuesday after the volatile session during the day. The pair started the session at 1.1168, and in the early hours of the day recorded the highest level at 1.1228. Trading ended at a price of 1.1201 and probably the upward trend will continue due to the breakthrough at 1.1180. The index of relative strength also supports the bulls in the short term.
A couple of points.
Trading didnt end, it’s a 24 hour market
Price hasn’t been over 1.12 for 5 hours, when did you last look at the chart?
Yesterday the EURUSD pair rose on a wide range day and closed in the green near the high of the day, shy above the 10-day moving average. This close above the 10-day moving average and the fact that we might get a golden cross (the 50 DMA crosses above the 200 DMA) today suggests that the bears are losing control of the currency. The key levels to watch today are the same of yesterday 1.1237 (Resistance) and 1.1097 (Support) and a break above the resistance or a break down below support would set the tone for the mid-tem.
Eur/Usd just hit fresh low today while the pair is still within a range. The pair is lacking clear directional strength, need a break out.
EUR/USD is testing a strong support level 1.11560 for the third day I will go short at 1.1145.
There’s an inverted hammer candlestick on the weekly filter chart above the support at 1.1100 so I think it might move to the upside again.
The EUR/USD in the bearish trend in general compare to the last two week, Also the USD gaining weight and the USD index aiming high.
The single currency reported a moderate growth against the dollar on Wednesday, which kept the positive performance for the fourth consecutive day. The euro was trading at 1.1206 at the end of the session, which was held within the extreme values at 1.1215 and 1.1131. In the short term positive sentiment remain, but the price remains limited by the 100-period moving average at 1.1260.