EUR/USD has formed a shooting star candlestick and a pair of hanging man candlesticks on the weekly time-frame, all below the resistance at 1.1910. Although the consolidation continues for now those candlesticks are a telling signal there could be an impending move to the downside.
On yesterday session, the EURUSD rose on the back of a narrow range but with a wide spread and managed to 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 closed above the 10-day moving average that should provide dynamic support however is still trading above the 50 and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.1976, other daily resistance at 1.1829, the 10-day moving average at 1.1770 (support), a daily support at 1.1753, a daily support 1.1687, other daily support at 1.1556 and other daily support at 1.1460.
EUR/USD is hovering around the 1.18 handle today amid the light macro calendar. Tomorrow’s speeches of Mario Draghi and Janet Yellen will set more clear direction for the pair.
The EUR/USD consolidation is getting tighter with each passing hour, tomorrow there will likely be a breakout and a significant movement depending on the fundamentals.
On yesterday session, the EURUSD went back and forward without any clear direction and closed in the middle of the daily range, in addition the currency pair closed within Wednesday’s range, which suggests being clearly neutral, neither side is showing control.
The currency pair made a narrow spread candle with high volume which is an anomaly and not a good sign for bulls.
The currency pair traded above the 10-day moving average that should provide dynamic support however is still trading above the 50 and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.1976, other daily resistance at 1.1829, the 10-day moving average at 1.1771 (support), a daily support at 1.1753, a daily support 1.1687, other daily support at 1.1556 and other daily support at 1.1460.
Big move today, let’s see if it keeps going next week.
The fundamentals today pushed EUR/USD to the upside and the pair will likely test the previous high at 1.1910. A breakout above that level will probably lead to a further rally towards 1.2000.
EUR/USD extended the rally on post-Yellen gains and jumped to a fresh 20-month high at 1.1912 after Draghi’s speech. Now the major resistance at 1.20 is a great challenge for euro bulls.
After weeks consolidation, the pair had a break out, small gap up. The pair has found resistance level around 1.1960.
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On the last Friday’s session the EURUSD rallied with a wide range plus wide spread and closed near the high of the day, in addition the currency pair managed to close above Thursday’s range, which suggests a strong bullish momentum.
The currency pair continues trading above the 10, 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.2041, other daily resistance at 1.1976, a daily support at 1.1910, other daily support at 1.1829, the 10-day moving average at 1.1822 (support), and a daily support at 1.1753.
EURUSD heads 1.20 in the short term, may be some tricky pullback, but Draghi removed last barrier as signaled he doesn’t mind euro appreciation. Yellen Jackson Hole speech was empty actually.
EUR/USD is testing the last high at 1.1960. Unless the pair forms a double top and starts falling, it will likely reach 1.2000, maybe even break out above that level.
On yesterday session, the EURUSD initially fell but found enough support near the Fridays close to erase all its losses and closed near the high of the day, in addition the currency pair managed to close above Friday’s high, which suggests a strong bullish momentum.
The currency pair continues trading above the 10, 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.2115, other daily resistance at 1.2041, a daily support at 1.1910, the 10-day moving average at 1.1860 (support), a daily support at 1.1829, and a daily support at 1.1753.
EUR/USD broke out above 1.2000 with ease and reached a new high at 1.2070 before bouncing off from that level. If the pair breaks out above that resistance next target is likely at 1.2100.
EUR/USD continues retracing after bouncing off from 1.2070. What is more, the pair has formed a shooting star candlestick on the daily time-frame at that level, which is a signal for a further move to the downside, likely towards 1.1830 - 1.1800.
On yesterday session, the EURUSD initially rallied but found enough resistance at 1.2041 to erase all its gains and closed near the low of the day, however the currency pair managed to close within Monday’s range, which suggests being slightly on the bearish side of neutral.
The currency pair continues trading above the 10, 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.2115, other daily resistance at 1.2041, a daily support at 1.1910, the 10-day moving average at 1.1867 (support), a daily support at 1.1829, and a daily support at 1.1753.
Thought I’d liven up this particular thread.
In fairness it can become a little boring focusing on what has already happened so my posts will do the opposite - I’ll focus over on the right - just to brighten things up.
There has been a significant pull-back in the past 3 days, the turnaround kicking off halfway thru Tue past.
So question is will today be more selling? - I suggest not, perhaps a stall - two reasons, NFP tomorrow and the tech set up on US10yr - will post that later.
On yesterday session, the EURUSD dived with a wide range plus with a wide spread and managed to close near the low of the day, in addition the currency pair managed to close below Tuesday’s low, which suggests a strong bearish momentum.
The currency pair continues trading above the 10, 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.2115, other daily resistance at 1.2041, a daily support at 1.1910, the 10-day moving average at 1.1878 (support), a daily support at 1.1829, and a daily support at 1.1753.
After having crazy two days, the EUR/USD is going to calm down today and awating for the next catalyst. Today the macro agenta is not offering much, but Friday we have the NFP from USA.