Key levels to watch for today:
Support: 1.1330; 1.1220; 1.1090;
Resistance: 1.1465; 1.1620.
The pair is back to 1.135 area, basically unchanged for the day. Terribly tight range, unable to break out, upside seems limited to 1.1380/90 area.
The EURUSD on the daily chart has formed what it appears to be a pennant formation, indicating indecision with the same levels of resistance at the 1.1400 and support at the 1.1300.
Yesterday EUR/USD was trading in a narrow range for a second day in a row and the single currency remained almost unchanged at a level of 1.1355. The daily high was reached at 1.1379and the low at 1.1338. The current consolidation might test the psychological level at 1.1400.
Yesterday EURUSD went back and forward without any clear direction but still closed in the red, in the middle of the daily range, in addition managed to close within the previous day range, which suggests clearly neutral market, neither side is showing control.
Looks like EURUSD is in compression mode due to the narrow ranges that is making since Monday and to the inside day that it made yesterday. So get ready for an expansion day in the few days to come.
The pair is trading above the 10, 50 and 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: A daily resistance at 1.1556, other daily resistance at 1.1460, the 50-day moving average at 1.1301 (support) and a daily support at 1.1237.
in a 4 days from now timeframe it will be up as it does tend to lag but its definatlity going to go up
Euro/dollar had another indecisive movement yesterday. Short-term expectations remain bullish for testing 1.1470. Immediate support is seen at 1.1285, as break and daily close below it could become a threat to the bullish scenario re-testing the lower line of the bullish channel, but still it is preferable scenario up at this stage.
The dollar was the main loser in the last day in relatively quiet trading session. The single currency ended the day almost unchanged. The currency pair EUR/USD traded in range between 1.1338 and 1.1380 is completed day at 1.1357.
The dollar hit a new four-week low against a basket of major currencies on Wednesday. The dollar index, which tracks the US currency against a basket of six major rivals, fell 0.05 percent to 93.779 after falling up to 93.695 - the lowest level since May 11. Euro rose by 0.06 percent to $ 1.1363.
On Wednesday EUR/USD rose 0.26% over 1.1400, keeping near the Monday at three-week high 1.1392.
EUR/USD is still very bullish. The next target is likely the resistance at 1.1430, and if it breaks out above that level it could reach 1.1500 again.
On Wednesday session EUR/USD was trading in a tight 20 pips wide range. The pair added nearly 40 pips to a closing price of 1.1393. The intraday high was hit at 1.1410 which is a three-week high and the daily low was marked at 1.1354. Currently the pair remains limited by the psychological level at 1.1400, but the outlook is bulish. Possible break will target EUR/USD to 1.1465.
Yesterday EURUSD rallied with a wide range and closed near the high of the day, in addition managed to close above the previous day high, suggesting a strong bullish momentum.
The pair is trading above the 10, 50 and 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: A daily resistance at 1.1556, other daily resistance at 1.1460, the 50-day moving average at 1.1301 (support) and a daily support at 1.1237.
Clearly there’s no end to range in sight. The current move to the downside will likely continue until it reaches 1.1270, which is (MA)89 on the four-hour time-frame.
Well i have a T/P order at 1.1250 so i hope it gets there.
The pair seems have lost it’s upside momentum, but break below the support level at 1.1300 is still required for the confirmation of bearish trend.
Yesterday EURUSD plunged with a wide range, making a bearish engulfing pattern and closed near the low of the day, in addition managed to close below the previous day low, suggesting a strong bearish momentum.
The pair is trading above the 10, 50 and 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: A daily resistance at 1.1556, other daily resistance at 1.1460, the 50-day moving average at 1.1300 (support), the 10-day moving average at 1.1276 and a daily support at 1.1237.
The move to the downside continued today and EUR/USD reached 1.1270 as I thought it would. If it breaks below that level next target is likely 1.1200.
I agree, the pair extended further south, hit fresh one week low, next target would be at 1.1200 level.
The euro was down against the US Dollar on Friday. EUR/USD is at 1.1250, shedding 0.58%. The support is now located at the level of 1.1246, the low of Friday’s trading, and resistance is likely to make the level of 1.1416 - the maximum of Thursday.