All volatility has died down, hopefully by the end of the week the fundamentals will cause a breakout.
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EURUSD facing forming a double top at 1.17460-1.17520 area in 4 hours chart. If the pair sustain above 1.17520 levels we can see the upside move till 1.17820. we expect the pair will be weak later in the day 1.17050 and 1.16880.
On yesterday session, the EURUSD rallied with an average range and closed near the high of the day, in addition, managed to close above Tuesdaysâ high, which suggests a strong bullish momentum.
The currency pair is trading above the 10 and the 50-day moving averages, both should provide a dynamic support, nonetheless, it continues to trade below the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829, a daily resistance at 1.1753, the 10-day moving average at 1.1687 (support), a key level at 1.1684 (support), the 50-day moving average at 1.1677 (support), a daily support at 1.1555 and year-to-date low at 1.1509 (support).
The EUR/USD pair turned sharply to the downside, retracing from closer to weekly highs and weakened further below the 1.1700 mark after the latest ECB monetary policy update with Draghi reaffirming to hold interest rates steady through the summer of 2019. Currently the pair is trading at 1.1656, but the huge selling pressure might drag the pair towards the 1.1600 handle, which if broked to below will open doors for testing next support lines at 1.1575 and 1.1535. Looking to the upside, 1.1700 remains a resistance hard to achieve, but in case of any bullish attempts next target is provided by 1.1725 and 1.1745.
Itâs testing the support at 1.1665, if it breaks out below that level it will likely fall to 1.1600.
On yesterday session, the EURUSD initially rose but found enough selling pressure to erase all of its gains and closed near the low of the day, in addition, managed to close below Wednesdayâs low, which suggests a strong bearish momentum.
The currency pair closed below the 10 and the 50-day moving averages, both should provide a dynamic resistance, nonetheless, it continues to trade below the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829, a daily resistance at 1.1753, a key level at 1.1684 (resistance), the 10-day moving average at 1.1675 (resistance), the 50-day moving average at 1.1678 (resistance), a daily support at 1.1555 and year-to-date low at 1.1509 (support).
It bounced off from 1.1620 and it will likely rise towards 1.1700 again.
Eur/Usd continue its consolidation in the lower range around 1.165, showing no clear directional strength. The pair will lead to further downside only if break below the support level at 1.1570.
On the last Fridayâs session, the EURUSD initially fell but found enough buying pressure to trim all of its losses and manage to close near the high of the day, however, closed within Thursdayâs range, which suggests being slightly on the bullish side of neutral.
The currency pair trading below the 10 and the 50-day moving averages, both should provide a dynamic resistance, nonetheless, it continues to trade below the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829, a daily resistance at 1.1753, a key level at 1.1684 (resistance), the 10-day moving average at 1.1680 (resistance), the 50-day moving average at 1.1678 (resistance), a daily support at 1.1555 and year-to-date low at 1.1509 (support).
It has broken out above 1.1700, next target is likely at 1.1740 - 1.1750.
On yesterday session, the EURUSD rallied with a wide range and closed near the high of the day, in addition, managed to close above Fridayâs high, which suggests a strong bullish momentum.
The currency pair closed above the 10 and the 50-day moving averages, both should provide a dynamic support, nonetheless, it continues to trade below the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829, a daily resistance at 1.1753, a key level at 1.1684 (support), the 10-day moving average at 1.1680 (support), the 50-day moving average at 1.1678 (support), a daily support at 1.1555 and year-to-date low at 1.1509 (support).
Consolidation continues for now, the pair is back at 1.1700.
EUR/USD broke below 1.1700 level ahead of FOMC meeting, now is going to meet the immediate support at 1.1625.
EUR/USD is at 1.1665 again, but the fundamentals today could end the consolidation.
On yesterday session, the EURUSD initially rose but found enough selling pressure near 1.1753 to reverse and closed near the low of the day, however, managed to close within Mondaysâ range, which suggests being slightly on the bearish side of neutral.
The currency pair traded above the 10 and the 50-day moving averages, both should provide a dynamic support, nonetheless, it continues to trade below the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829, a daily resistance at 1.1753, a key level at 1.1684 (support), the 10-day moving average at 1.1683 (support), the 50-day moving average at 1.1679 (support), a daily support at 1.1555 and year-to-date low at 1.1509 (support).
On yesterday session, the EURUSD tried to rise but found enough selling pressure near 1.1705 to reverse and closed near the low of the day, in addition, managed to close below Tuesdaysâ low, which suggests a strong bearish momentum.
The currency pair closed below the 10 and the 50-day moving averages, both should provide a dynamic resistance, nonetheless, it continues to trade below the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829, a daily resistance at 1.1753, a key level at 1.1684 (resistance), the 50-day moving average at 1.1677 (resistance), the 10-day moving average at 1.1671 (resistance), a daily support at 1.1555 and year-to-date low at 1.1509 (support).
Itâs testing 1.1600, next target is likely at 1.1520.
On yesterday session, the EURUSD fell with a wide range and closed near the low of the day, in addition, managed to close below Wednesdayâs low, which suggests a strong bearish momentum.
The currency pair is trading below the 10 and the 50-day moving averages, both should provide a dynamic resistance, nonetheless, it continues to trade below the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829, a daily resistance at 1.1753, a key level at 1.1684 (resistance), the 50-day moving average at 1.1672 (resistance), the 10-day moving average at 1.1657 (resistance), a daily support at 1.1555 and year-to-date low at 1.1509 (support).
The pair fell towards 1.1560, next week there may be a further move to the downside.
Bearish trend expected to continue soon would be testing support level at 1.1500.