let’s see. EMA 200 is acting as a strong resistance now
The dollar traded mixed against the major currency pairs.
Was higher than the NOK, AUD, NZD, CAD and SEK and lower than the JPY and GBP and virtually unchanged against the EUR and CHF.
The EURUSD just stays consolidated around the 1.2800 level.
EURUSD continues to consolidate above its 10-day moving average in a very mixed fundamental environment. We have markets trying to simultaneously process an apparent global slowdown (and its rate implications), good employment statistics (in the US), and risk aversion due to a variety of economic and political concerns.
EUR / USD fell yesterday to level 1.2700 coinciding with the MM50 periods.
At this level reacted and recovered to the levels of 1.2800.
The short term trend is positive and if the pair breaks the barrier of 1.2900 could lead to the 1.3000 major psychological level.
There is a hanging man candlestick in the EUR/USD daily filter, which is usually a signal for reversal. In combination with the resistance at 1.2840 - 1.2850, which is exactly where the hanging man candlestick is, I think EUR/USD will start descending again. That said, if it doesn’t and breaks above the resistance at 1.2840, it will likely head for 1.2900.
I don’t think price will move much away from the psychological resistance 1.2800 today
If the EURUSD breaks the 12800 level to the upside, it may try to visit the 1.2900. But the 55 EMA is around the 1.2900 and could help stop the rise on the pair around that zone.
The EURUSD initially tried to rally during the course of the day on Friday, but fell back below the 1.28 level. Is expected a strong resistance from 1.2994 limiting the upside and bringing a fall resumption. Below 1.2624 minor support will turn bias back to the downside.
EUR/USD moved lower on Friday when reached near the MM200 resistance.
It stopped above 1.2700 (S1) line and MM50.
Significant levels of support: 1.2700 (S1) - 1.2600 (S2) - 1.2500 (S3);
Significant levels of resistance: 1.2900 (R1) - 1.3000 (R2) - 1.3100 (R3).
Credit Agricole holds long EUR/USD from 1.2660 with a target at 1.31 and a stop of 1.2350.
After that hanged man candlestick on the daily filter chart right under the resistance I expected EUR/USD would start dropping again, and it did, but not nearly as much as I suspected it would. Now there is a doji in the daily filter chart, perhaps signifying another reversal. That said, I think range contintues and I don’t believe we will be able to tell whether EUR/USD will really start climbing again before it breaks above the resistance at 1.2840.
price is at a strong resistance level 1.2790 it will decide where the price will go a break above 1.2790 will push the price higher a break under will pull the price back to 1.2700.
I agree with in this analysis.
The EURUSD keeps correcting its longer term drop, but it could find a good resistance around the 1.2900
EURUSD initially fell during the course of the yesterday Asian session, but rose back up to the 1.28 level on the European and US session. The pair is managing to stay above the 10-day moving average and we might see a rally to the 50 day moving average at 1.2857.
The dollar has been virtually unchanged against most of its currency crosses.
The striking absence of internationally events naturally makes this situation takes place.
EUR/USD has been testing the resistance level at 1.2840 for days now but it seems it cannot break above it. Still, there is no proper signal yet for a reversal and the situation remains unclear.
It’s strong resistance at 1.2840 as I see but we will see what will happen this week.
well we have a decided range 1.2725 - 1.2840 price keep bouncing up and down so buy if the price start to rebound again from the support