Key levels to watch for:
Support: 1.0620; 1.0598;
Resistance: 1.0773; 1.0828.
EUR/USD continues consolidating above 1.0640 after forming a hammer candlestick on the daily time-frame at that level. Considering the fundamentals tomorrow and on Friday, and especially the US Change of Non-Farm Payrolls on Friday, consolidation will likely continue for now.
Lately the EUR/USD pair is caught in tight range but according to the technical readings on the four-hour time frame the risk remains towards downwards. The pair is experiencing difficulties to puch higher above the the 20-day SMA, which is tending to south currenlty. RSI has switched to bullish mode, but yet is below mid-lines, while stochastic is caught in the middle and is trending to lows. Whereas the pair is standing still we should consider the key support level at 1.0620, as in case of breaking it, bears would be poised to chase 1.0565.
On yesterday session, the EURUSD initially fell but found yet again enough support at 1.0642 to reverse and close near the high of the day, however the currency pair closed within Tuesday’s range, which suggests being slightly on the bullish side of neutral.
The currency pair is trading above the 50-day moving average that should provide a dynamic support, however is still trading below 10 and 200-day moving averages that should provide dynamic resistance.
The key levels to watch are: a daily resistance at 1.0900, the 200-day moving average at 1.0825 (resistance), a daily resistance at 1.0819, the 10-day moving average at 1.0728 (resistance), a daily resistance at 1.0713, the 50-day moving average at 1.0657 (support) and a daily support at 1.0622.
Consolidation is getting tighter and tighter. While there’s still a possibility that EUR/USD will start moving to the upside again, it’s doubtful that there will be any major changes before the fundamentals tomorrow.
On yesterday session, the EURUSD initially tried to rise but found enough selling pressure around Wednesday open at 1.0679 to reverse and close near the low of the day, however the currency pair closed within Wednesdays range, which suggests being slightly on the bearish side of neutral.
The currency pair is trading below the 10, the 50 and 200-day moving averages that should provide dynamic resistance.
The key levels to watch are: The 200-day moving average at 1.0823 (resistance), a daily resistance at 1.0819, the 10-day moving average at 1.0709 (resistance), a daily resistance at 1.0713, the 50-day moving average at 1.0657 (resistance), a daily support at 1.0622 and a Fibonacci retracement at 1.0584 (support).
The pair is pushing to the downside and it has almost broken below 1.0630, but the fundamentals could change that very soon.
EUR/USD was not able to move beyond the 1.07 level. The pair is now 1.0640 and seems prone to continue South.
The US NFP report today pushed the US dollar to donwards agains the major rivals and set the chances of an adance limited. EUR/USD remains within the well-known weekly range and finds difficulties to move above 1.0670 area.
The technical outlook for EUR/USD remains bearish. A breach of 1.0525 could lead the pair towards 1.0455 and 1.0390. Looking to the upside only break above the 100-DMA at 1.0630 might bring back bulls with aiming the psychological level at 1.0700.
The euro fell against the US dollar on Friday. By the close of US trading, EUR/USD was trading at 1.0591, losing 0.50%. I believe that support is now at 1.0581, the low of Friday’s trading, and the resistance is likely at 1.0690 - the maximum of the Wednesday’s trading.
On the last Friday’s session the EURUSD fell with a wide range and closed near the low of the day, in addition the currency pair managed to close below Thursday’s low, which suggests a strong bearish momentum.
The currency pair is trading below the 10, the 50 and 200-day moving averages that should provide dynamic resistance.
The key levels to watch are: the 50-day moving average at 1.0655 (resistance), the 10-day moving average at 1.0681 (resistance), a daily resistance at 1.0622, a Fibonacci retracement at 1.0584 (support) and other Fibonacci retracement at 1.0527 (support).
EUR/USD dropped significantly after the fundamentals on Friday, breaking out below 1.0630. It’s currently testing the support at 1.0570 and a breakout below that level too could lead to a further drop towards 1.0500.
EUR/USD has turned to bearish mode and the uptrend for now seems to be limited. The pair has surpassed the important 50-day moving average last week and the bears are now aiming the 61.8% Fibonacci level at 1.0555. The bearish case might be compromised only above the resistance at the 38.2% Fibonacci level at 1.0685.
EUR/USD failed to stay above the 1.06 handle and has entered in consolidation phase. Same level remains strong resistance while first support is seen at 1.0568 and lower at 1.0535.
On yesterday session, the EURUSD went back and forward without any clear direction but closed in the green, in the middle of the daily range, however the currency pair closed within Friday’s range, which suggests being clearly neutral, neither side is showing control.
The currency pair is trading below the 10, the 50 and 200-day moving averages that should provide dynamic resistance.
The key levels to watch are: the 50-day moving average at 1.0652 (resistance), the 10-day moving average at 1.0641 (resistance), a daily resistance at 1.0622, a Fibonacci retracement at 1.0584 (support) and other Fibonacci retracement at 1.0527 (support).
After forming a double bottom at 1.0570 visible on the one-hour time-frame EUR/USD bounced off from that level and started moving to the upside again. The pair has already broken above 1.0600 again and its next target is likely 1.0660.
EUR/USD is flirting with 1.06 level and is offering no indications for strong direction change. Amid the uncertainty around French elections , the single currency may not push higher.
On yesterday session, the EURUSD again went back and forward without any clear direction but closed in the green, in the middle of the daily range, however the currency pair closed within Monday’s range, which suggests being clearly neutral, neither side is showing control.
The currency pair is trading below the 10, the 50 and 200-day moving averages that should provide dynamic resistance.
The key levels to watch are: the 50-day moving average at 1.0652 (resistance), the 10-day moving average at 1.0634 (resistance), a daily resistance at 1.0622, a Fibonacci retracement at 1.0584 (support) and other Fibonacci retracement at 1.0527 (support).
On yesterday session, the EURUSD rallied with a wide range and closed near the high of the day, in addition managed to close above Tuesday’s high, which suggests a strong bullish momentum.
The currency pair closed above the 10 and the 50-day moving averages that should provide dynamic support and is trading below the 200-day moving average that should act as dynamic resistance.
The key levels to watch are: a Fibonacci level at 1.07132 (resistance), the 50-day moving average at 1.0653 (support), the 10-day moving average at 1.0635 (support), a daily support at 1.0622, and a Fibonacci retracement at 1.0584 (support).