EUR/USD Technical Analysis from a Newbie (need to be confirmed)

The pair has been rejected from 1.13 level despite Fed decision to stay on hold at its June meeting and back to the range.

Just wanted to revisit this dumb statment by this joker. See if he is still lurking. Guess he who was sent to save us got this call wrong.

Hahaha (s)he still a-fishin’ but his/her net got a hole in it!!

Love it!!!

On Wednesday the single currency was trading elevated against the US dollar, following the highly awaited FOMC decision. The pair opened at 1.1206 and closed 52 pips higher. If the uptrend continues, the pair will move to the first resistance located at 1.1286.

Indeed, now it’s back to testing the support at 1.1130. If it breaks below that level it will likely reach 1.1050.

The pair made sharp U-turn yesterday, the price back to near its opening price. Immediate resistance is still at 1.1300 level, ranging between 1.13 to 1.1130.

The single currency recorded a slight decrease against the US dollar on Thursday. The session started at 1.1258 and ended 34 pips lower. On downwards first support is located at 1.1100. Resistance is located at 1.1286.


The pair is clearly bouncing off the trendline, which is what happened this week too. Next week is Brexit, we will likely see some major changes in this chart come 23rd.

Next week this pair is going to move by the news most of the time. So it’s a 50/50 chance of making money, however depending in how you trade the news and how many pips you want to get out of each trade , your % might be better than 50 % or not…of making $$$ have a great week-nd i am done for the week.

On Friday, the dollar fell against the euro, but remained stable at 22-month lows against the yen, as the pessimistic reports in the US, as well as decisions of the Federal Reserve System and the Bank of Japan to leave monetary policy unchanged is still putting pressure on the US currency.

Sentiment on the dollar remained fragile after on Thursday the US Department of Labor said the number of initial applications for benefits for a week of unemployment ending June 11 increased by 13,000 to 277,000.

In addition, the US Commerce Department reported that consumer prices rose 0.2%, while expected to grow by 0.3% in May. In annual terms, consumer prices rose 1.0% last month, which was below forecasts growth of 1.1%.

On Friday the dollar weakened against the major currencies, as the Fed decided to maintain interest rates unchanged and lowered its growth forecasts for interest rates in the next few years.
The EUR/USD rose 0.45% to 1.1277.

I believe that the support is now located at the level of 1.1131, the low of Thursday, and resistance is likely to at the level of 1.1304 - a maximum of Tuesday.

My levels of support and resistance remain:
Support: 1.1100;
Resistance: 1.1286; 1.1450; 1.1630.


Can’t believe with Briexit coming up this week you lot believe your support and resistance levels have any form of validity about them.

Stupid, stupid commentators.

But then again it’s not as if any of the updated support or resistance levels reported on this thread have any validity in the first place!!!

Indeed … almost the entire thread has about as much validity as a pre-election campaign promise (mind you, there are some gullible souls who believe those, too!). :7:

Got one of those on in Ozstrala at the moment. And it makes my head hurt!

Yea this thread continues to plod on regardless… It is the most viewed thread with the least original content… If this were the window to showcase Babypips forum threads, it would be a terrible tragedy!!