No volatility and it was Friday, nothing interesting.
it was a very slow friday EUR/USD was trading around the support unable to break it. I think we will see a correction with the start of next week price most probably will test 1.2700
The EURUSD seems to be waiting for the fundamentals to come out to decide in which direction to go next.
EURUSD tried to rally during the day on Friday, but as pullback significantly in order to form a very neutral candle. This market continues to stroll sideways and essentially not offering much to trade and because of that the market is still bearish, but we are looking for some signal that’s worth selling. A break down below the 1.2613 level has the market heading to the 1.25 level, just as a bounce from here should have sellers stepping in near the 1.28 level.
Some volatility was expected the next day to be known stress tests among European banks.
The dollar traded mixed against its peers but has been stronger than the EUR.
R3 - 1.27581
R2 - 1.27266
R1 - 1.26971
Pivot - 1.26656
S1 - 1.26361
S2 - 1.26046
S3 - 1.25751
Monday proved to be as slow and uneventful as Friday with EUR/USD moving in a tight range, although it does seem to be heading up again, probably for 1.2830. Or this movement could be just part of the range.
price kept trading above friday’s candle which consider as the day support level. RSI and Stochastic are oversold I’ll be looking for a buy position above 1.2700
The EURUSD is still holding on to the 1.2700, a breakout may take the price to the 1.2800 or a bounce to the 1.2600.
EURUSD was consolidating during the course of yesterday session, essentially going nowhere. The pair continues to struggle at the 1.27 level, and as a result it’s we may expect the sellers to come into this marketplace and make their presence be known. Even if we rally from here, it’s very likely that we will see a significant amount of selling pressure somewhere in the neighborhood of 1.2795.
I am totally agree with you, thanks.
The movements of the EUR / USD this Monday were consolidation, keeping close to the moving average of 50 periods, and the 1st of the barrier resistance (1.27218).
R3 - 1.27647
R2 - 1.27393
R1 - 1.27218
Pivot - 1.26964
S1 - 1.26789
S2 - 1.26535
S3 - 1.26360
EUR/USD started climbing again and it looks like it is headed for target 1.2830, where there is a significant resistance. I’m assuming that it will begin testing that resistance again, but at this point whether it will be able to break above it is anyone’s guess.
Price broke above 1.2700 made 50 pips profit. I’ll look for an opening above 1.2750
After a boring European session, with the pair trading either side of the 1.2700 handle, stronger price action was again dictated by US data.
This meant upside for the EUR, and the pair spiked from 1.2708 to 1.2760, eventually printing a high at 1.2765. The pair came off these high somewhat as the session moved closer to the close on little fundamental, almost retracing its initial strength, yet EURUSD stabilized around the 1.2730 level.
Looking ahead to the seminal FOMC rate decision today where all analysts are expecting the FOMC to taper and finish QE3.
EUR/USD broke above 1.2750 and is likely headed for 1.2800, even 1.2830. Also, depending on the FOMC news later today we might finally see some increased volatility on the market. If the pair can’t break above the resistance at 1.2830 we might see a sharp drop.
price fell around 100 pips just after FOMC statement.
The dollar was stable against most of its G10 peers today.
R3 - 1.28633
R2 - 1.28167
R1 - 1.27237
Daily Pivot - 1.26771
S1 - 1.25841
S2 - 1.25375
S3 - 1.24445
1.2762 is the new lowest bottom of EUR/USD. By this I mean this level will bounce up at least 2 times.
In 10 days the price will reach 1.2850
That’s right, here comes whipsaw.
Eur/usd looks to stabilize near 1.2620, above the immediate support 1.2614. But it may not be all over for the pair. The EUR will remain under pressure, as the dollar will again be the main focus of the pair’s price action tomorrow.