EUR/USD formed a double top at 1.2500. Usually that is a signal for a move to the downside, but in this case the pair is still quite bullish, so a breakout is also likely.
On yesterday session, the EURUSD rose with a narrow ranger but closed near the high of the day, in addition managed to close above Wednesday’s high, which suggests a strong bullish momentum.
The currency pair is trading above the 10, the 50 and 200-day moving averages that should provide dynamic support.
The key levels to watch: a daily resistance at 1.2754, other daily resistance at 1.2576, daily support at 1.2432, the 10-day moving average at 1.2350 (support), a daily support at 1.2287 and daily support at 1.2115.
Althogh the pair did break out above 1.2500 the move to the upside did not last long and now EUR/USD is back below the aforementioned resistance level. Next target is likely 1.2400.
The pair has lost its gains and found important support zone at 1.240/39.
On the last Friday’s session, the EURUSD initially tried to rise but found enough resistance near 1.2576 to erase all of its gains and push downward, closing near the low of the day, in addition managed to close below Thursday’s low, which suggests a strong bearish momentum.
The currency pair is trading above the 10, the 50 and 200-day moving averages that should provide dynamic support.
The key levels to watch: a daily resistance at 1.2754, other daily resistance at 1.2576, daily support at 1.2432, the 10-day moving average at 1.2356 (support), a daily support at 1.2287 and daily support at 1.2115.
The single currency recorded a significant decline against the US dollar on Friday. The session started at 1.2505 and the price bounced from the first resistance at 1.2560. After all, the euro ended at 1.2405 and if the price continued to fall, the single currency would move to the first support at 1.2370.
Key levels to watch for:
Support: 1.2370; 1.2260; 1.2070;
Resistance: 1.2560;
On yesterday session, the EURUSD went back and forward without any clear direction but closed near in the middle of the daily range, in addition managed to close within Friday’s range, which suggests being clearly neutral, neither side is showing control.
The currency pair is trading above the 10, the 50 and 200-day moving averages that should provide dynamic support.
The key levels to watch: a daily resistance at 1.2754, other daily resistance at 1.2576, daily support at 1.2432, the 10-day moving average at 1.2368 (support), a daily support at 1.2287 and daily support at 1.2115.
there is a heap of resistance WAY ahead of that
On yesterday session, the EURUSD fell with a wide range and closed near the low of the day, in addition managed to close below Mondays’ low, which suggests a strong bearish momentum.
The currency pair closed below the 10-day moving average that should provide dynamic resistance however is trading above the 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch: a daily resistance at 1.2754, other daily resistance at 1.2572, daily support at 1.2432, the 10-day moving average at 1.2373 (support), a daily support at 1.2287 and daily support at 1.2115.
hardly we are at 1.2265 your chart is broken? or the numbers on your chart are wrong, when price is at 1.2265 (market now) that is way below 1.2432 (NOT SUPPORT), maybe you use different definitions or words?
Hi rram2,
Thank you for the heads up, it should be read as daily resistance 1.2432.
On yesterday session, the EURUSD fell with an average range and closed near the low of the day, in addition managed to close below Tuesdays’ low, which suggests a strong bearish momentum.
The currency pair closed below the 10-day moving average that should provide dynamic resistance however is trading above the 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch: a daily resistance at 1.2572, daily resistance at 1.2432, the 10-day moving average at 1.2371 (resistance), a daily resistance at 1.2287, a daily support at 1.2200 and other daily support at 1.2115.
Hawkish FOMC minutes yesterday uplifted the greenback and EUR/USD crossed to below the 1.23 handle. It seems that the pair will test the 1.2250 area.
On yesterday session, the EURUSD rose with a narrow ranger but closed near the high of the day, in addition managed to close within Wednesday’s range, which suggests being slightly on the bullish side of neutral.
The currency pair closed below the 10-day moving average that should provide dynamic resistance however is trading above the 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch: a daily resistance at 1.2572, daily resistance at 1.2432, the 10-day moving average at 1.2378 (resistance), a daily support at 1.2287, the 50-day moving average at 1.2247 (support), a daily support at 1.2200 and other daily support at 1.2115.
The pair is flat around 1.23 today, but anyway bears are eyeing 1.2260 with next traget at 1.22. Then a double top will be formed on the daily chart.
The Euro posted some losses due to the optimistic outlook in the US. I’m looking to go long next week.
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is this a timed entry? based on a feeling?
Rt’s buy at the top and sell at the bottom I dont know why.
if you wait longer you may be able to buy MUCH lower! or I guess you could wait and buy it at the top on a break(fake)out! something should be obvious if you look at the supplied weekly chart.
While the pair continues its correction movement on the downside, the bearish strength seems limited to 1.2250 the immediate support level.
On the last Friday’s session, the EURUSD fell with a narrow range and closed near the low of the day, however managed to close within Thursday’s range, which suggests a being slightly on the bearish side of neutral.
The currency pair is trading below the 10-day moving average that should provide dynamic resistance however is trading above the 50 and 200-day moving averages that should provide dynamic support.
The key levels to watch: a daily resistance at 1.2572, daily resistance at 1.2432, the 10-day moving average at 1.2358 (resistance), a daily support at 1.2287, the 50-day moving average at 1.2262 (support), a daily support at 1.2200 and other daily support at 1.2115.