The pair’s correction movement continues, bouncing around 1.121 level with very little progress. Immediate support level can be found at 1.1180/90 zone, break below could lead to further decline.
The single currency was trading close to unchanged against the US dollar on Wednesday. The short term outlook remains negative and breakthrough of yesterday’s low will drag the pair further downwards. Support is located at 1.1100 and 1.0980. Resistance is seen at 1.1286 and 1.1400.
Yesterday the EURUSD went back and forward without any clear direction but still closed in the red however in the middle of the daily range, in addition managed to close within the previous day range, which suggests being clearly neutral, neither side is showing control.
The pair continues to trade above all three moving averages 10, 50 and the 200-day that are acting as dynamic supports.
The key levels to watch are: a 61.8% Fibonacci retracement at 1.1347 (resistance), 50% Fibonacci retracement at 1.1264, a daily resistance at 1.1237, the 200-day moving average at 1.1203 (support), and a daily support at 1.1097.
Yesterday, the dollar rose against all other major currencies after the data were positive about the volume of orders for durable goods in the US, although investors remain cautious in light of the decision of the leading oil producers.
During today’s Asian trade, the US dollar is stable against the euro. By the morning was worth $ 1.1221 versus $ 1.1217 at the close of the North American market on Wednesday.
EUR / USD did not make significant movement yesterday. Price slipped below 1.1200 but failed to hold convincingly below that level now. From the perspective of the four-hour chart, the price is moving sideways between 1.1350 - 1.1125 in the last six weeks and need a clear break of the range area to see clearer direction. The bias is neutral in nearest term. The nearest support is 1.1275. A clear break and daily close above it could trigger bullish pressure testing 1.1350. Support for the day is 1.1200, whose breach could lead to downward pressure for testing 1.1125. Overall technical outlook remains neutral.
The single currency recoded neutral session against the US dollar on Wednesday. The pair opened at 1.1213 and the dollar added only 3 pips. Daily extreme points were reached respectively at 1.1181 and 1.1236. The outlook in the short term remains negative and breakthrough of yesterday’s low will put the couple at risk of further downgrade.
Key levels to watch for:
Support: 1.1100; 1.0980;
Resistance: 1.1286; 1.1400.
EUR/USD is caught in a very tight range between 1.1230 and 1.1190. Later today the FED Chair Janet Yellen will speak at the Minority Bankers Forum in Kansas City, that event will likely cause enough volatility to end the range.
Yesterday the EURUSD went back and forward without any clear direction again but still managed to close in the green however in the middle of the daily range, in addition closed within the previous day range, which suggests being clearly neutral, neither side is showing control.
The pair continues to trade above all three moving averages 10, 50 and the 200-day that are acting as dynamic supports.
The key levels to watch are: a 61.8% Fibonacci retracement at 1.1347 (resistance), 50% Fibonacci retracement at 1.1264, a daily resistance at 1.1237, the 200-day moving average at 1.1203 (support), and a daily support at 1.1097.
The single currency remained close to unchanged against the US dollar during yesterday’s session. After a volatile session the euro left the market with only 4 pips higher. The EUR/USD pair remains limited to the upside by the 4-month resistance at 1.1286.
After several days of tight range EUR/USD finally broke below 1.1200, next target is likely around 1.1150 - 1.1140.
The euro rose against the dollar on Friday. By the close of US trading EUR/USD was trading at 1.1240, gaining 0.19%. I believe that the support is now located at the level of 1.1153, the low of Friday’s trading, and resistance is likely at the level of 1.1279 - Monday’s high.
The pair continues its sideway movement in a range between 1.112 to 1.133, but the lack of directional momentum probably will end with all focus turn to ECB’s minutes and US Payrolls this week.
On the last Friday’s session the EURUSD initially fell hard but found enough buying pressure to erase all its losses and closed near the high of the day, however it did not had enough strength to close above Thursday’s range, which suggests being slightly on the bullish side of neutral.
The pair continues to trade above all three moving averages 10, 50 and the 200-day that are acting as dynamic supports.
The key levels to watch are: a 61.8% Fibonacci retracement at 1.1347 (resistance), 50% Fibonacci retracement at 1.1264, a daily resistance at 1.1237, the 200-day moving average at 1.1203 (support), and a daily support at 1.1097.
Sideways consolidation continues, but EUR/USD has formed a doji candlestick on the four-hour time-frame below the resistance at 1.1250, so a new move to the downside is very likely.
EUR/USD was trading in tight range today, between 1.1204 and 1.1241. The pair closed modestly lower despite the suprisingly good EU macro data released today. In the short-term the pair is seen in neutral stance.
The euro lost strength the US dollar on Monday, but the decline was not significant enough to break key levels. If bullish sentiment again prevail, resistance at 1.1284 will be tested. Support is located at 1.1149 and 1.1122.
Yesterday the EURUSD fell with a wide range and closed near the low of the day, in addition managed to close below the previous day low, which suggests a strong bearish momentum.
The pair closed below the 10 and 50-day moving average that should act as dynamic resistances and is still above the 200-day that is acting as dynamic support.
The key levels to watch are: a 61.8% Fibonacci retracement at 1.1347 (resistance), 50% Fibonacci retracement at 1.1264, a daily resistance at 1.1237, the 200-day moving average at 1.1202 (support), a Fibonacci retracement at 1.1181 (support) and a daily support at 1.1097.
EUR/USD reached the support at 1.1150 and bounced off of it, but it is very likely to continue dropping, especially considering the doji candlestick that has formed on the weekly time-frame.
The story of the day is that the is close to consensus on ending its bond-buying program before it concludes next year in March. Then EUR/USD pair was sloping between 1.11365 and 1.1238 until again find its well know place around 1.1200 mark.