EUR/USD is on wait and see mode ahead of US CPI and is trading undisturbed around 1.1880. The pair might generate a rebound, according to indicators on H4, but only if advacing above 1.1900. Then this could be considered as a corrective recovery with next targets 1.1950 and the psychological 1.1200 mark. On the other hand the pair stands at risk for further declines with a break and close below the 1.1810 - 1.1790 area.
The pair bounced off from 1.1945 and it may fall towards 1.1850 again
The retracement continues, the question is whether or when there will be a breakout above 1.1965.
The dollar is still under pressure, the pair is testing potential resistance at 1.20. It could be a short-term buying opportunity.
On the last Friday’s session, the EURUSD went back and forward without any clear direction but and managed to close in the green, in the middle of the daily range, in addition, closed within Thursday’s range, which suggests being clearly neutral, neither side is showing control.
The currency pair managed to close above the 10-day moving average that should provide dynamic support, however, is still trading below the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: a key level at 1.2165 (resistance), the 200-day moving average at 1.2049 (resistance), a daily resistance at 1.2041, the 10-day moving average at 1.1931 (support), January low at 1.1915 (support), a daily support at 1.1829 and other daily support at 1.1753.
The pair bounced off from 1.1995, it may retrace to the downside towards the support at 1.1900.
On yesterday session, the EURUSD tried to rise but quickly found enough selling pressure to turn south and closed near the low of the day, although managed to close within Friday’s range, which suggests being slightly on the bearish side of neutral.
The currency pair is trading above the 10-day moving average that should provide dynamic support, however, is still trading below the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: a key level at 1.2165 (resistance), the 200-day moving average at 1.2049 (resistance), a daily resistance at 1.2041, the 10-day moving average at 1.1920 (support), January low at 1.1915 (support), a daily support at 1.1829 and other daily support at 1.1753.
There is a double bottom at the support at 1.1820, the move to the downside may have ended for now.
On yesterday session, the EURUSD fell with a wide range and closed near the low of the day, in addition closed below Mondays’ low, which suggests a strong bearish momentum.
The currency pair trading below the 10, the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: a key level at 1.2165 (resistance), the 200-day moving average at 1.2048 (resistance), a daily resistance at 1.2041, the 10-day moving average at 1.1900 (support), January low at 1.1915 (support), a daily support at 1.1829 and other daily support at 1.1753.
The pair broke out below the last low and continued moving to the downside, next target may be at 1.1740.
EUR/USD is hovering around 1.1800 but the bearish stength remains strong. Below the daily low bears might face 1.1740.
On yesterday session, the EURUSD initially fell but found enough buying pressure to erase some of its losses and closed in the middle of the daily range, in addition, managed to close below Tuesdays’ range, which suggests a bearish momentum.
The currency pair trading below the 10, the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: a key level at 1.2165 (resistance), the 200-day moving average at 1.2047 (resistance), a daily resistance at 1.2041, the 10-day moving average at 1.1882 (resistance), January low at 1.1915 (resistance), a daily resistance at 1.1829 and other daily support at 1.1753.
The pair is testing the support at 1.1765 and there will likely be a breakout below it and a further decline.
On yesterday session, the EURUSD went back and forward without any clear direction and closed in the middle of the daily range, in addition, managed to close within Wednesday’s range, which suggests being clearly neutral, neither side is showing control.
The currency pair trading below the 10, the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: a key level at 1.2165 (resistance), the 200-day moving average at 1.2047 (resistance), a daily resistance at 1.2041, the 10-day moving average at 1.1870 (resistance), January low at 1.1915 (resistance), a daily resistance at 1.1829 and other daily support at 1.1753.
The pair fell to 1.1750 today, next week it will probably continue falling towards 1.1700.
On the last Friday’s session, the EURUSD went back and forward without any clear direction but and managed to close in the red, in the middle of the daily range, however, closed below Thursday’s low, which suggests a bearish momentum.
The currency pair trading below the 10, the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: the 200-day moving average at 1.2047 (resistance), a daily resistance at 1.2041, the 10-day moving average at 1.1844 (resistance), January low at 1.1915 (resistance), a daily resistance at 1.1829 and a daily support at 1.1753 and a key level at 1.1684 (support).
Although there might be some consolidation movements in the coming week, but risks remain on the downside. I set my target at 1.1718.
ontinue falling towards 1.1700. is?
It bounced off from 1.1715 so there may be a retracement before it continues moving to the downside, but the overall trend is still bearish.
On yesterday session, the EURUSD initially fell but found enough buying pressure to turn north and closed near the high of the day, although managed to close within Friday’s range, which suggests being slightly on the bullish side of neutral.
The currency pair continues to trade below the 10, the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: the 200-day moving average at 1.2047 (resistance), a daily resistance at 1.2041, the 10-day moving average at 1.1840 (resistance), January low at 1.1915 (resistance), a daily resistance at 1.1829 and a daily support at 1.1753 and a key level at 1.1684 (support).