Yesterday the EURUSD fell with a narrow range and closed in the red near the low of the day, shy above the 1.0622 daily support.
Looks like the downside momentum is losing strength and we might see a pullback in the short-term, before another downward move.
The key levels to watch are the 1.0900 (Resistance), 1.0819 (resistance), the 10-day moving average at 1.0729 (resistance), a Fibonacci extension at 1.0703 (resistance) and 1.0622 (Support).
It looks like the next support is 1.0548.
The upside momentum of the pair has now seemed run out of fuel, upside capped by near 1.0690/0700 zone. On the downside, psychological support level is still located at 1.0600.
It will have to break below 1.0630 before it reaches 1.0600.
EUR/USD is trading around the opening price, inverted hammer is forming on the daily chart.
On Wednesday session the single currency recorded a light increase against the US dollar.The pair opened at a price of 1.0640 and after a volatile session closed at a rate of 1.0658. Daily extreme values were reached respectively at 1.0617 and 1.0692. The positive outlook still prevails, but for further gains is needed breakthrough of 1.0676.
Yesterday the EURUSD went back and forward with a wide range, creating an outside day but managed to close in the green in the middle of the daily range.
According to the US Federal Reserve (Fed) policymakers latest meeting, a potential increase of the interest rate is on the table for the next Fed meeting on 16th of December.
The key levels to watch are the 1.0900 (Resistance), 1.0819 (resistance), the 10-day moving average at 1.0721 (resistance), a Fibonacci extension at 1.0703 (resistance) and 1.0622 (Support).
Traders are disappointed with FOMC minutes, and the Dollar is still suffering from it, correction movement continues just above 1.0700 level.
In my opinion, parity will be reached when FED raises the interest rates.
Apparently some correction is in order. The pair is headed for the resistance at 1.0800. I doubt thatās the end of the bearish trend though.
I agree with you on that, and seems that there is a positive expectation for Draghiās speech in Friday.
EUR/USD made a correction from 1.065 level, I donāt see further correction until price break 1.0728 and close above it on the 4 hour chart.
On Thursday session the single currency recorded an increase against the US Dollar. The session started at 1.0658 and ended 74 pips higher. The bulls prevailed and the first resistance at 1.0676 was broken. Expecting further increase of the euro and a break of next resistance at 1.0854.
Yesterday the EURUSD rose with a wide range and closed in the green near the high of the day, shy above the 10-day moving average. The question is if the pair has enough strength to follow thru the upward momentum.
The key levels to watch are the 1.0900 (Resistance), 1.0819 (resistance), the 10-day moving average at 1.0719 (resistance), a Fibonacci extension at 1.0703 (support) and 1.0622 (Support).
Draghi talking the Euro down again, with the markets are lacking momentum at the present the pair still remains range between 1.0600-1.0800.
After FOMC, dollar weakened, but today is a perfect day for short positions.
The EUR/USD fell to the Fibonacci R2 at 1.0642 and lost all the Thursday gains, as the down trend still strong. let us see what is next week will reveal.
I doubt the pair will succeed in breaking below the last low at 1.0616 before the market closes today but next week it probably will and we will see a further move to the downside towards 1.0520.
EUR/USD is swinging in the 100 pip range between 1.0729 and 1.0630.
If next weekās fundamentals from Europe come out lower than expected, then the EURUSD may break below the 1.0600 level. A visit to the 1.0500 is not far-fetched.