The pair remained without any significant changes during yesterday’s session, continuing to consolidate around the psychological level at 1.1000. The euro traded within 1.1029 and 1.0981 over a three-week bottom, and ultimately lost 7 pips to 1.1012. The prevailing sentiment continues to be negative, but given the impossibility of breaking the ongoing movement range, a recovery to average values is possible.
Yesterday EURUSD initially fell but found enough buying pressure to trim most of its losses but still closed in the red, but near the high of the day, in addition managed to close within the previous day range, which suggests being slightly on the bullish side of neutral.
The pair continues to trade below the 10, 50 and the 200-day moving averages that are acting as dynamic resistances.
The key levels to watch are: The 50-day moving average at 1.1172 (resistance), the 200-day moving average at 1.1117 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1056 (resistance) and daily support 1.0900.
…or is it just pointless hour-by-hour accounting
of this pair’s aimless wanderings???
Where are you all going with this thread???
Tell us about your wins, your losses, your aims!
Why wouldn’t you trade it? It’s probably one of the easier pairs to predict at the moment. I’m short with a 45 pip target.
I see no interest in trading it as I am a trend/thematic trader…It would be interesting to see people trading it in various ways, short-term but also long-term…
There is a spinning top candlestick on the daily time-frame above the support at 1.0980 so we might see a new move to the upside. That said, the ECB press-conference should begin soon as well, let’s hope it will provoke more than whipsaws on the market.
EUR/USD was trading close to unchanged yesterday, within relatively narrow range. The pair marked a slight increase of 10 pips to a closing price of 1.1023 and the intraday extremes respectively at 1.1057 and 1.0979. The respetive bottom for second consecutive day acted as a support, although during the day Mario Draghi hinted for possible further monetary stimulus later this year.
Yesterday the EURUSD went back and forward without any clear direction but managed to close in the green, in the middle of the daily range, in addition closed within the previous day range, which suggests being clearly neutral, neither side is showing control.
The pair continues to trade below the 10, 50 and the 200-day moving averages that are acting as dynamic resistances.
The key levels to watch are: The 50-day moving average at 1.1170 (resistance), the 200-day moving average at 1.1120 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1054 (resistance) and daily support 1.0900.
The EURUSD weakens and it looks like it finally broke out of the consolidation. The pair may drop to the 1.0900 level.
I agree, my next target at 1.08.
On Friday ECB published the results of the survey from professional forecasters.
Forecasts for 2016 GDP and CPI have not changed, so that the bank have no reason to sharply increase incentives in the near future. A decline of the EUR/USD could be caused only by the power of the dollar, expecting euro weakness in the current situation has no grounds.
The EU is unpredictable at this time , anyone that wants to dip in it should keep a tight S/L just in case .
The single currency recorded a decreased against the US dollar on Friday. The session started at 1.1023 and the pair lost 50 pips at a closing price of 1.0973. The price broke through the first support at 1.0980. In the short term outlook remains negative, the graph continues to develop under the moving averages.
On the last Friday’s session the EURUSD fell with a wide range and closed in the red, near the low of the day, in addition managed to close below Thursday’s low, suggesting a strong bearish momentum.
The pair continues to trade below the 10, 50 and the 200-day moving averages that are acting as dynamic resistances.
The key levels to watch are: The 50-day moving average at 1.1166 (resistance), the 200-day moving average at 1.1122 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1045 (resistance) and daily support 1.0900.
On Wednesday and Thursday EUR/USD tested the important level around 1.0980, trying to form a double bottom on the daily chart. A break below 1.0910 will confirm the end of the four-week period of consolidation and will pave the way for a test of support 1.0800- 1.0750 dollars.
On the other hand, if the pair goes back above key resistance 1.1050-80 dollar break through 1.1190, it will allow the pair to test 1.1420-30.
EUR/USD bounced off 1.0950 again. Since range continues its next target is likely around 1.1060.
The sungle currency marked a slight increase the US Dollar on Monday. The pair added 21 pips at a closing price of 1.0993. After a volatile session, the price broke the first resistance at 1.0980. Next target appears to be the resistance at 1.1100.
Yesterday the EURUSD initially fell but found enough support at 1.0970 to reverse and closed near the high of the day, although closed within Fridays range, which suggests being slightly on the bullish side of neutral.
The pair continues to trade below the 10, 50 and the 200-day moving averages that are acting as dynamic resistances.
The key levels to watch are: The 50-day moving average at 1.1159 (resistance), the 200-day moving average at 1.1125 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1026 (resistance) and daily support 1.0900.
The single currency recorded a slight decline against the US dollar on Tuesday. The session started at 1.0994 and closed at 1.0985. The graphics continue to develop under the moving averages, while the relative strength index remained on neutral territory. If the downward trend continues we may expect a break of the support at 1.0980.
Yesterday the EURUSD tried to rally but found enough resistance at the 10-day moving average to reverse and closed near the low of the day, although closed within the previous day range, which suggests being slightly on the bearish side of neutral.
The pair continues to trade below the 10, 50 and the 200-day moving averages that are acting as dynamic resistances.
The key levels to watch are: The 50-day moving average at 1.1156 (resistance), the 200-day moving average at 1.1126 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1013 (resistance) and daily support 1.0900.