EUR/USD dropped considerably today, which is unsurprising considering the doji candlestick on the weekly time-frame below the resistance at 1.0780. If the pair breaks below 1.0620 next target will likely be at 1.0580.
The EUR/USD pair started the week with a bullish gap. The US dollar declined due to the surprising Trump’s immigration ban, though later retreated from 1.0742 to bottom at 1.0619. In the short term the pair is poised to further decline.
The EUR/USD pair jumped this morning to 1.0713 and currenty is trading at 1.0700 level. First resistance is placed at 1.0740 and next at 1.0775. Strong support is seen at 1.6580 and in case if breaking it, the pair is poised to decline further towards 1.0600 area.
The dollar fell because of an immigration policy of Trump. The euro rose by 0.07 percent to $1.0699. The single European currency on Monday withdrew from a minimum of 11 days to $1.0620 on the background of data, reporting the inflation rate in Germany was up to a maximum of three and a half years, getting closer to targeted by the ECB’s 2 percent.
Hi All,
i am new to this forum. I am positively biased in EURO and holding buy on dips view in the currency. After forming the strong base near 1.05, EURUSD is gaining strength. Intraday volatility can’t be ruled out on the back of political development. EURO has immediate resistance placed at 1.078 and once it is broken the next level to watch is 1.10
On yesterday session, the EURUSD initially fell with a wide range but found enough support at 1.0622 to turn back around and managed to close near the high of the day, however currency pair close within previous Friday’s range, which suggests being slightly on the bullish side of neutral.
The currency pair is trading above the 50-day moving average should act as a dynamic support but succeed in closing below and remains trading below the 10 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.0819, the 10-day moving average at 1.0710 (resistance), a daily support at 1.0622, the 50-day moving average at 1.0580 (support) and a daily support at 1.0462.
The euro recorded an extremely volatile session against the dollar on Monday. Ultimately the trade finished in favor of the US currency, but the single currency managed to offset most of the losses incurred in the first half of the day. The start was given at a price of 1.0717 as bearish sentiment dominated from the start. So the support at 1.0639 was breached as the pair hit bottom at the 1.0619. Finish line was crossed 74 pips higher.
Key levels to watch for:
Support: 1.0639; 1.0586;
Resistance: 1.0776; 1.0817.
EUR/USD was indecisive yesterday. The pair attempted to push lower, and slid below the lower limit of the bullish price channel, but then rose again and went into the canal. Until we see a convincing break and daily close below the bullish channel, the phase of bulls remains valid. The outlook is neutral, possibly with light signals up to test 1.0800. Support for the day is 1.0690. A clear break below could lead to further bearish pressure testing 1.0650.
The fundamentals are pushing EUR/USD to the upside and the pair will soon test the last high at 1.0774. A breakout above that level will likely lead to a further move to the upside towards 1.0800 - 1.0810.
True, risks still remains towards upside, strong resistance levels are 1.0820 and 1.0840.
The EUR/USD failed to hold above 1.08 and currenlty keeps a side-ways movement, slightly away from the mutli weeks high reached yesterday at 1.0815.
On yesterday session, the EURUSD rallied with a wide range and closed near the high of the day, in addition the currency pair managed to close above the previous day high, which suggests a strong bullish momentum.
The currency pair is trading above the 50-day moving average and succeed in closing above the 10 day moving average that also should act as a dynamic support but remains trading below the 200-day moving average that should act as dynamic resistance.
The key levels to watch are: a daily resistance at 1.0819, the 10-day moving average at 1.0724 (support), a daily support at 1.0622, the 50-day moving average at 1.0583 (support) and a daily support at 1.0462.
After moving to the upside yesterday the pair found some resistance at 1.0810, formed a double top at that level, as well as a hanging man candlestick on the one-hour time-frame, and started dropping. The closest target is likely at 1.0740, which is the (MA)89 indicator on the same time-frame.
It [B][U]IS[/U][/B] because of the US Dollar, nothing else, no opinion needed - it’s the underlying workings of the FX markets and the makings of currency pairs!
If USD is quoted first in a currency pair, such as in your example - USD/CAD USD/CHF, then these will be positively correlated with each other. Note, the only time they may lose correlation is if CAD or CHF changes sentiment at a rate greater than USD. [I][lets call this group 1][/I]
If USD is quoted second in a currency pair, such as in your example - GBP/USD EUR/USD, then these will be positively correlated with each other. Note, the only time they may lose correlation is if GBP or EUR changes sentiment at a rate greater than USD. [I][lets call this group 2][/I]
Lets now assume that USD is the driving quote currency in all the pairs mentioned above, ok?
In this assumption, Group 1 [B]WILL BE INVERSELY CORRELATED[/B] to Group 2
It’s no magic, just simple ratios
If you are tracking EURUSD, be aware that it is operating in a channel. But because the major market trend is southwards, the more confident trade would be to sell after price has rejected the upper channel line. Trade safe and prosper.
On yesterday session, the EURUSD initially fell with a narrow range but found enough buying pressure to trim some of its losses and closed in the middle of the daily range, in addition the currency pair managed to close within the previous day range, which suggests being clearly neutral, neither side is showing control.
The currency pair is trading above the 10 and 50-day moving averages that should act as dynamic supports but remains trading below the 200-day moving average that should act as dynamic resistance.
The key levels to watch are: a daily resistance at 1.0819, the 10-day moving average at 1.0730 (support), a daily support at 1.0622, the 50-day moving average at 1.0585 (support) and a daily support at 1.0462.
EUR/USD is trading elevated today, crossing to above the 1.08 handle and the current market price is 1.0812. Technical readings confirm the bullish trend, but the pair is facing strong resistance at 1.0840 area. If conquering it, door would be open for testing 1.09 zone.
EUR/USD bounced off 1.0730 and started moving to the upside, eventually forming a new high at 1.0828. Next target is likely 1.0900 indeed.
After marking a four-week high at 1.0825, the EUR/USD is now seen in ascending channel. The focus is now on the upcoming data and US Payrolls, which has set the pair under pressure. A break below the 1.0730 would trigger further downslide towards 1.0690. To resume to the upside is needed break above the resistance at 1.0790.