The euro marked slight decrease against the dollar on Tuesday. The session opened at 1.1234 with neutral trend in early trading hours. Bears prevailed in the late afternoon and the support at 1.1197 was tested after marking daily low at 1.1203. If expectations for further euro’s weakness justify, the key level will be overcome. Support is located at 1.1197 and 1.1156 and resistance is seen at 1.1284 and 1.1327.
EUR/USD has been caught in a tight range for days now and by the looks of it it will continue until the end of the week unless the fundamentals finally cause enough volatility to end it.
The euro gained ground against the dollar on Wednesday. The pair tested the resistance at 1.1284, but couldn’t breakthrough. Short-term expectations remain in favor of the single currency and if they come true, the key level will be broken. Support is located at 1.1197 and 1.1156. Resistance is seen at 1.1284 and 1.1327.
Yesterday the EURUSD rose with a wide range but closed in the middle of the daily range, in addition managed to close within the previous day range, which suggests being clearly neutral, neither side is showing control.
The pair is trading above the 10, 50 and the 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: a daily resistance at 1.1460, a 61.8% Fibonacci retracement at 1.1347 (resistance), previous swing high at 1.1327 (resistance), a daily support at 1.1237, the 10-day moving average at 1.1222 (support), and a daily support at 1.1097.
The EUR/USD range is getting tighter and tighter, but this consolidation likely won’t end before the FED interest rate announcement next week.
The single currency marked quite dynamic session against the dollar on Thursday. Even though the closing price was cosiderable near the opening price, respectively 1.1243 and 1.1248. The trend was neutral for most of the time, but around noon the bulls prevailed and currencies rallied up. The pair again tested the resistance at 1.1284, after marking the intraday high at 1.1284. Subsequently the euro lost the accumulated gains.
Yesterday the EURUSD went back and forward without any clear direction and closed in the middle of the daily range, in addition managed to close within the previous day range, which suggests being clearly neutral, neither side is showing control.
The pair is trading above the 10, 50 and the 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: a daily resistance at 1.1460, a 61.8% Fibonacci retracement at 1.1347 (resistance), previous swing high at 1.1327 (resistance), a daily support at 1.1237, the 10-day moving average at 1.1231 (support), and a daily support at 1.1097.
The pair is back to testing the support 1.1210 - 1.1200 and the CPI data could give it the push to break below it, but we’ll likely have to wait for the FED news next week for any major changes.
Risk remains on the downside, break down 1.1147 level could lead to further decline towards my next target 1.1040.
Important support level can be found at 1.1120 zone, break below would show clearer downside potential.
The euro was down against the US Dollar on Friday. By the close of US trading EUR/USD was trading at 1.1155, shedding 0.79%. I believe that the support is now located at the level of 1.1149, the minimum of Friday’s trading, and resistance is likely at the level of 1.1286 - the maximum of Thursday.
The single currency managed to break its recent range on Friday.EUR/USD was trading in a relatively narrow range last week, but the pair broke the psychological support at 1.1200 to closed the session with a drop of 90 pips. Current attitudes remain negative, but for confirmation of the downward trend is needed breakthrough the levels at 1.1120/1.1105. Support is located at 1.1105 and resistance is seen at 1.1195 and 1.1280.
On the last Friday’s session the EURUSD plunged with a wide range and closed near the low of the day, in addition managed to close below Thursday’s range, which suggests a strong bearish momentum.
The pair closed below all three moving averages 10, 50 and the 200-day that should act as dynamic resistances.
The key levels to watch are: a 61.8% Fibonacci retracement at 1.1347 (resistance), a daily resistance at 1.1237, the 200-day moving average at 1.1194 (resistance), and a daily support at 1.1097.
EUR/USD has formed a double bottom on the one-hour time-frame above the support at 1.1150. The pair will likely start retracing the drop from last Friday and the first target is around 1.1200 again.
Upside seems limited to 1.1200 level, immediate support can be found at 1.1140/50 zone.
EUR/USD started the week with an increase after posting significant losses a day earlier. The euro managed to advance by 20 pips to a closing price of 1.1173 to trade within 1.1197 and 1.1150. RSI moved up, but the price remains below the average values by making an unsuccessful attempt to break the psychological level at 1.1200. Breaking 1.1105 would confirm the downward trend. Support is located at 1.1105 and 1.1045. Resistance is seen at 1.1195 and 1.1280.
Yesterday the EURUSD rose with a narrow range but closed in the middle of the daily range, in addition managed to close within the previous day range, which suggests being clearly neutral, neither side is showing control.
The pair closed below all three moving averages 10, 50 and the 200-day that should act as dynamic resistances.
The key levels to watch are: a 61.8% Fibonacci retracement at 1.1347 (resistance), a daily resistance at 1.1237, the 200-day moving average at 1.1197 (resistance), and a daily support at 1.1097.
EUR/USD bounced off 1.1210 after its move to the upside yesterday and currently it is back to testing the support at 1.1180 - 1.1170, I doubt we will see any major changes before the fundamentals tomorrow.
The EUR/USD pair was trading for shortly above the 1.1200 mark during the Europe session, but sloped donward in the afternoon and closed around 1.1160. Having in mind the upcoming Fed meeting tomorrow, the pair might meet 1.0505-1.1060 level or go to 1.1610 – 1.1280 area. This midway situation probably will be solved tomorrow.
I agree, the pair is consolidation around 1.1150 level head of two key central bank meetings.