After the break…
1.1000 level is critical, break below this psychological handle means further decline.
The single currency lost value for a third consecutive session on Wednesday. The pair continued depreciating and lost 47 pips to a closing price of 1.1005, which is a new two-month low. Next target of the bears is the key support located at 1.1000/1.0990.
Yesterday the EURUSD fell again but this time with a narrow range and closed near the low of the day, in addition managed to close below the previous day low, which suggests a strong bearish momentum.
The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.1237, the 10-day moving average at 1.1159 (resistance), a daily resistance at 1.1097, July swing low at 1.0952 (support) and a daily support at 1.0900.
It did break below that level but it bounced off 1.0980. We’ll likely see it climb back to 1.1060 - 1.1070.
Yesterday the EURUSD initially fell but found enough support marginally above the 1.0970 to reverse and closed near the high of the day, however closed within the previous day range, which suggests being slightly on the bullish side of neutral.
The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.1237, the 10-day moving average at 1.1140 (resistance), a daily resistance at 1.1097, July swing low at 1.0952 (support) and a daily support at 1.0900.
On Thursday the euro recovered from the losses during the last three sessions and emerged from the reached two-month low. The single currency added 50 pips to a closing price of 1.1055 after trading within 1.1057 and 1.0985. The pair is moving under the downward sloping moving averages, but RSI is no longer around extreme levels. Correction to 1.1105 should resume the downward direction.
The euro was down against the US Dollar on Friday. By the close of the Asian session, EUR/USD was trading at 1.1023, shedding 0.32%. I believe that the support is now located at the level of 1.0982, the low of Thursday, and resistance is at the level of 1.1202 - Monday’s high.
EUR/USD bounced off 1.1060 and it’s currently testing 1.1000 again. Depending on the fundamentals today we can see a breakout and a move to the downside towards 1.0950.
With a strong downward momentum, the pair might just extend further decline before pull back to correction.
On the last Friday’s session the EURUSD dived with a wide range and closed near the low of the day, also managed to close below Thursday’s low, which suggests a strong bearish momentum.
Do to the nature of the impulsive daily candle it can also indicate exhaustion of the downward move. If today the currency closes in the green we will get the confirmation of the exhaustion.
The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.1237, the 10-day moving average at 1.1116 (resistance), a daily support at 1.1097, July swing low at 1.0952 (support) and a daily support at 1.0900.
EUR/USD closed last week at 1.0970, but today is seen slightly elevated. The pair rebounded from the low to currently trade at 1.0989 and seems that is heading to next resistance at 1.1003.
EUR/USD is indeed retracing after reaching the support at 1.0963 but that is likely only temporary. A breakout below the aforementioned support level will lead to a further drop towards 1.0820.
The euro marked an increase against the US dollar on Monday session. The price bounced back and managed to break the first resistance at 1.0980. The pair added 30 pips to a closing price of 1.0998. The upwards movement continues and the pair is testing now the 1.1100 level.
The euro rose against the dollar on Monday. By the close of US trading EUR/USD was trading at 1.1000, gaining 0.26%. I believe that the support is now located at the level of 1.0964, Monday’s low, and resistance is at the level of 1.1072 - the maximum of Wednesday.
The US dollar took a break in the Asian session on Tuesday after recent gains, retreating from the seven-month high against a basket of major world currencies, as investors assessed the likelihood of the Fed raising interest rates in the coming months.
The euro rised by 0.15 percent to $ 1.1014, moving away from a minimum of almost three months of $ 1.0962 set on Monday, while investors are waiting for the meeting of the European Central Bank later in the week.
Yesterday the EURUSD rallied with a narrow range and closed near the high of the day, however closed within the previous day range, which suggests being slightly on the bullish side of neutral.
The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.1237, the 10-day moving average at 1.1072 (resistance), a daily resistance at 1.1097, July swing low at 1.0952 (support) and a daily support at 1.0900.
EUR/USD was seen today back above 1.1000 level as the US dollar cheered up on the excellent CPI numbers. The pair climbed to 1.1015, but lost strength to push higher.
The pair tested the resistance at 1.1020, formed a pair of doji candlesticks on the four-hour time-frame and bounced off that level. It’s currently testing the support at 1.0980 but it will likely continue falling.
Yesterday the EURUSD tried to rallied but found enough selling pressure to quickly reverse and closed near the low of the day, however closed within the previous day range, which suggests being slightly on the bearish side of neutral.
The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.1237, the 10-day moving average at 1.1055 (resistance), a daily resistance at 1.1097, July swing low at 1.0952 (support) and a daily support at 1.0900.