EUR/USD retreated from the lows around 1.1730 area, but the ongoing bearish bias remains valid.
After the pair broke below 1.18 resistance level, the risk remains on the downside. Support can be found around 1.1725/30, further downside might be expected.
On the last Friday’s session, the EURUSD initially fell with a wide range but found some buying pressure to trim most of its loses and closed near the high of the day, in addition the currency pair managed to close within Thursday’s range, which suggests being clearly slightly on the bullish side of neutral.
The currency pair is trading below the 10-day moving average that should provide dynamic resistance however is trading above the 50 and the 200-day moving averages that should provide dynamic support.
The key levels to watch are: a key level at 1.1965 (resistance), the 10-day moving average at 1.1770 (resistance), the 50-day moving average at 1.1756, a daily support at 1.1753 and a key level at 1.1684 (support).
EUR/USD bounced off from 1.1725 after forming a telling hammer candlestick on the daily time-frame at that level. The pair will likely move to the upside above 1.1800 in the next few days.
The pair was unable to surpass the 1.1800 level today and meanwhile the H4 chart is providing neutral strance with indicators correcting from oversold areas.
On yesterday session, the EURUSD initially rallied with a wide range but found enough selling pressure to expunge most of its initial gains and closed near the low of the day, however the currency pair managed to close within Friday’s range, which suggests being slightly on the bearish side of neutral.
The currency pair is trading below the 10-day moving average that should provide dynamic resistance however is trading above the 50 and the 200-day moving averages that should provide dynamic support.
The key levels to watch are: a key level at 1.1965 (resistance), the 10-day moving average at 1.1813 (resistance), the 50-day moving average at 1.1753, a daily support at 1.1753 and a key level at 1.1684 (support).
EUR/USD moved to the downside despite the hammer candlestick on the daily time-frame at 1.1725. It is now testing that same support level and it may be able to break out below it.
On yesterday session, the EURUSD fell with a wide range and closed near the low of the day, in addition the currency pair succeeded to close below Monday’s low, which suggests a strong bearish momentum.
The currency pair is trading below the 10 and the 50-day moving averages that should provide dynamic resistance however is still trading above the 200-day moving average that should provide dynamic support.
The key levels to watch are: a key level at 1.1965 (resistance), the 10-day moving average at 1.1793 (resistance), the 50-day moving average at 1.1751 (resistance), a daily resistance at 1.1753, a key level at 1.1684 (support) and other key level at 1.1593 (support).
Euro may bounce off from the support level on the Daily, that was taken yesterday
There will be major volatility because of the FOMC announcement very soon which may end the current retracement.
On yesterday session, the EURUSD rallied with a wide range and closed near the high of the day, furthermore the currency pair managed to close above Tuesday high, which suggests a strong bullish momentum.
The currency pair is trading above the 10, 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a key level at 1.1965 (resistance), the 10-day moving average at 1.1798 (support), the 50-day moving average at 1.1754 (support), a daily support at 1.1753, a key level at 1.1684 (support) and other key level at 1.1593 (support).
The fundamentals yesterday pushed EUR/USD to rally to a high at 1.1860, but after forming a telling shooting star candlestick on the four-hour time-frame at the aforementioned level and the fundamentals today the pair is back at the support at 1.1800. If EUR/USD breaks out below it there could be a further move to the downside.
On yesterday session, the EURUSD initially rose but found enough selling pressure to erase all of its gains and closed near the low of the day however, the currency pair managed to close within Wednesdays’ range, which suggests being slightly on the bearish side of neutral.
The currency pair is trading below the 10-day moving average that should provide dynamic resistance however is trading above the 50 and the 200-day moving averages that should provide dynamic support.
The key levels to watch are: a key level at 1.1965 (resistance), a daily resistance at 1.1829, the 10-day moving average at 1.1784 (resistance), the 50-day moving average at 1.1753 (support), a daily support at 1.1753, a key level at 1.1684 (support) and other key level at 1.1593 (support).
EUR/USD broke out below at 1.1800 and is currently at 1.1760. If it breaks out below that level too it will probably continue falling towards 1.1700.
Unpredictable pair as of late.
Short term, the pair continue towards the downside and found support level at 1.1715. With holidays are coming, I’m expecting volumes to shrink.
I agree, there will likely be a sideways consolidation at least until the holidays end.
EUR/USD is moving to the upside back towards 1.1860 and a breakout above that level could lead to a further move to the upside towards 1.1930.
EUR/USD rose to 1.1900 today but it is still testing that level. Whether it will continue moving to the upside depends on whether it will break out above that level.
The pair bounced off from 1.1900 and it is currently retracing, the pair will likely fall back down towards 1.1835.