Euro headed to its worst 11 –month low following a cautious stance from ECB to keep its interest rate lower at least by 2019 summer, indicating the looming Euro zone economy. The single currency is trading at the level of 1.15710, flat to positive. On Thursday, Euro spiked to a month high at 1.18517 on the expectation that ECB may announce to stop QE program but Euro’s bull retreated after its cautious stance on the economy and slid nearly by 1.93%. Euro-zone economic indicators that came in line with expectations could not provide any cushion to the single currency. Investors remain cautious ahead of Euro-zone CPI , WPI and trade balance to be unveiled today. We expect a relief rally from its 9 week low of 1.15420 to 1.1650 levels today as almost all the bad news priced in for the time being.
The pair found some support at 1.1545 after yesterday’s major move to the downside but next week it may continue falling.
EUR/USD closed the week steady around 1.1600, but the risk to the dowside remians still valid.
Eur/Usd starts the week with a small gap down in H4 chart, consolidation seems to continue, downside capped limit.
EUR/USD is consolidating after the big move to the downside last week, next target is likely at 1.1630.
The pair bounced off from 1.1530 but the move to the downside may not be over yet. If it continues there will probably be a breakout below 1.1500.
EUR/USD manages to hold above the yearly low but yet remains capped by th 1.1600 handle. However the pair is vulnerable for further decline if closes below mid 1.15s.
The pair is still consolidating sideways above 1.1530, but the move to the downside will likely continue.
During recent days the EUR/USD set daily lows around 1.1530 - 1.1540 area, which proovided so far first support. The bearish pressure today is pushing the pair lower so I expect test of next support at 1.1510, which if broken to below opens door to last year’s lows around 1.1480 - 1.1420.
It bounced off from 1.1505 due to the fundamentals and it may continue rising towards 1.1670.
On this week, we can see if eurusd on daily range movement, which after previous week this pair move to bearish strong, then moved up and down again on range daily, at last night this pair figure out bullish on H1, today morning this pair move slow motion to an upside, but if look on pattern candlestick at H1, now area on resistance which may be a consideration if later movement bounce to bearish again
It’s testing the resistance at 1.1675, a breakout above that level could lead to a further move to the upside towards 1.1800.
Eur/Usd is trading almost flat around 1.165 level, fear of the trade war escalating would put the pair at risk of resume its downward movement. Immediate suport can be found at 1.1620.
On the last Friday’s session, the EURUSD rallied with a narrow range and closed near the high of the day, in addition, managed to close above Thursday’s high, which suggests a strong bullish momentum.
The currency pair is trading above the 10-day moving average that should provide a dynamic support, nonetheless, it continues to trade below the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829, a daily resistance at 1.1753, a key level at 1.1684 (support), the 10-day moving average at 1.1614 (support), a daily support at 1.1555 and year-to-date low at 1.1509 (support).
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The pair did break out above 1.1675 and the move to the upside once it breaks out above 1.1700 too will likely continue.
On yesterday session, the EURUSD initially fell but found enough support near 10-day moving average to erase all of its losses and closed near the high of the day, in addition, managed to close above Friday’s high, which suggests a strong bullish momentum.
The currency pair is trading above the 10-day moving average that should provide a dynamic support, nonetheless, it continues to trade below the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829, a daily resistance at 1.1753, a key level at 1.1684 (support), the 10-day moving average at 1.1625 (support), a daily support at 1.1555 and year-to-date low at 1.1509 (support).
The pair is consolidating above the double bottom at 1.1510 and it may test that level for a third time.
On yesterday session, the EURUSD fell with a narrow range and closed near the low of the day, however, managed to close within Mondays’ range, which suggests being slightly on the bearish side of neutral.
The currency pair is trading above the 10-day moving average that should provide a dynamic support, nonetheless, it continues to trade below the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829, a daily resistance at 1.1753, a key level at 1.1684 (resistance), the 10-day moving average at 1.1627 (support), a daily support at 1.1555 and year-to-date low at 1.1509 (support).
EUR/USD is still slowly moving to the downside toward 1.1510, a triple bottom at that level may lead to a significant move to the upside.