Yesterday EURUSD rose with a wide range and closed in the green, near the high of the day, however managed to close within the previous day range, which suggests being slightly on the bullish side of neutral.
The pair managed to close above the 10-day moving average that now should act as a dynamic support but continues to trade below 2 moving averages the 50 and 200 that are acting as dynamic resistances.
The key levels to watch are: The 50-day moving average at 1.1193 (resistance), the 200-day moving average at 1.1105 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1082 (support) and daily support 1.0900.
The single currency recorded a second consecutive increase against the dollar on Thursday. The trend has been extremely volatile, as in the early hours bullish sentiment prevailed. The pair tested the resistance at 1.1183, after marking an intraday hight at 1.1164, but a couldn’t breakthrough it. Short-term expectations remain in favor of the euro.
Yesterday EURUSD rallied but found enough selling pressure to give back to the market some of its gains but managed to close in the green, although near the low of the day and closed within the previous day range, which suggests being slightly on the bearish side of neutral.
The pair managed to close above the 200-day moving average that now should act as a dynamic support and continues to trade above the 10-day moving average that is acting as dynamic support but the 50-day moving average is acting as dynamic resistance.
The key levels to watch are: The 50-day moving average at 1.1190 (resistance), the 200-day moving average at 1.1107 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1080 (support) and daily support 1.0900.
On the next week there will be a meeting of the ECB. The banking crisis that Europe has faced, needs more attention from politicians rather than the monetary authorities. However, the last week, this problem did not thrilled the markets. Keep an eye on the levels of 1.1000 and 1.1200+ - the breakdown of one of them will give quotes movement, which the single currency didn’t experienced since March (except for reaction to Brexit).
The euro was down against the US Dollar on Friday. At the close of trading session EUR/USD is traded at 1.1029, shedding by 0.83%. I believe that the support is now located at the level of 1.1014, Monday’s low, and resistance is likely to be the level of 1.1166 - the maximum of Thursday.
The EURUSD is going sideways, waiting for new information to come into the market and take a clear direction. Looks like a flag formation on the daily chart.
The single currency marked a decrease on Friday and erased most of its weekly gains. The euro depreciated by 49 pips to a closing price of 1.1068. The pair continues to move in the range defined by the levels at 1.1185 and 1.1020, as negative attitudes prevail.
On the last Friday’s session the EURUSD initially rose but found enough selling pressure to give back to the market all its gains and closed in the red, near the low of the day and managed to close below Thursday’s range, suggesting a strong bearish momentum.
The pair managed to close below the 10 and 200-day moving averages that should now act as dynamic resistances and continues to trade below the 50-day moving average that is acting as dynamic resistance.
The key levels to watch are: The 50-day moving average at 1.1186 (resistance), the 200-day moving average at 1.1109 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1069 (resistance) and daily support 1.0900.
Slow Monday, the pair is still stuck within the range between 1.1000 and 1.1150 with increasing bearish potential, only break below 1.1000 level would confirm further downward movement.
The single currency started the week with a moderate growth of 28 pips to 1.1074. The daily movement marked a one-week low at the level of 1.1037, then the price has recovered to 1.1083. EUR/USD continues to trade within a familiar zone once a day as a breakthrough of levels at 1.1185 or 1.1020 will indicate the prevailing sentiment.
Yesterday EURUSD rose with a narrow range and closed near the high of the day, in addition managed to closed within the previous day range, creating an inside day pattern plus suggests being slightly on the bullish side of neutral.
The pair managed to close above the 10-day moving average that should now act as dynamic support and 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 1.1180 (resistance), the 200-day moving average at 1.1113 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1065 (support) and daily support 1.0900.
The euro recorded a decrease against the dollar during yesterday’s session, which came out to loss from the beginning of the week. The pair fell 55 pips to a closing price of 1.1019. The price remains below averages, while the index of relative strength lost ground. Main target appear to be the levels of psychological barrier at 1.1000.
Yesterday EURUSD fell with a wide range and closed near the low of the day, in addition managed to close below the previous day low, thus suggesting a strong bearish momentum.
The pair managed to close below the 10-day moving average that should now act as dynamic resistance and 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 1.1176 (resistance), the 200-day moving average at 1.1115 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1060 (support) and daily support 1.0900.
The pair broke below the support at 1.1000 and reached 1.0980 but then retraced to the upside again. Let’s see how the ECB press-conference will affect it tomorrow.
The pair seems remain its bearish strength, 1.1000 has become rather strong support level to break, only break below could lead to further decline to 1.0910/1.0900 zone.
