EUR/USD fell on reaching the resistance area of 1.1836 (R1), but the drop stopped at 1.1729 (S1) level.
The positive divergence between RSI and price action calls for caution.
The macro trend continues descendent.
R3 - 1.19428
R2 - 1.19009
R1 - 1.18360
Daily Std. Pivot - 1.17941
S1 - 1.17292
S2 - 1.16224
S3 - 1.16224
EUR/USD did make a new low today after breaking below the support at 1.1750, but bounced back immediately afterwards. It looks like range continues and we will have to wait a bit more before the bearish trend continues on its way down.
market keep showing indecisive hammer or doji day after day but fail to show signs of reversal. today price broke under 1.1750 and price bounced back forming a doji. I am waiting for the close of today
It is good idea indeed Sherif, let us see the close of today.
EURUSD fell during yesterday session making fresh lows at 1.1726 and close slightly in the green near the open of the day creating a long-legged doji. Stochastic is showing an oversold market setting higher lows and price is making lower lows, signs that the downside may begin to get exhausted. We might see the pair in a choppy sideways action between now and ECB monetary policy meeting on the 22 of January.
EUR / USD fell on Wednesday, but stopped on the support zone at 1.1726 (S1) and recovered after the drop in US retail sales for December to be the highest since January 2014.
Then the pair hit the resistance slightly below our line of 1.1846 (R1) and moved downwards to negotiate more or less unchanged. Continues the positive divergence between the RSI and the price action.
The MACD is still negative.
R3 - 1.19655
R2 - 1.19057
R1 - 1.18462
Daily Std. Pivot - 1.17864
S1 - 1.17269
S2 - 1.16671
S3 - 1.16076
price broke the support of 1.1750 and fell almost 200 pips. good that I was waiting for selling under the support
I thought that range would last longer but EUR/USD dropped to 1.1567, forming a new historic low - the pair hasn’t dropped this much since 2003. While at this point I have little doubt that the pair will likely reach parity, I do have to wonder, however, how much lower can it drop before a more long-term correction begins?
Great trade man, good luck.
EURUSD fell hard and fast during the course of yesterday session and as a result we are well below the 1.17 handle. The Swiss National Bank in an unscheduled announcement ended the currency peg that it had been holding onto at the 1.20 level in the EURCHF, putting significant downward pressure on the Euro in general.
EUR/USD fell yesterday after the Swiss National Bank have suddenly abandoned the EUR/CHF, raising the stakes in how the ECB will implement a large-scale QE program in the policy meeting next Thursday.
The RSI continued to fall despite oversold, while the MACD moved to further negative territory.
The daily trend is clearly negative.
The EURUSD is forming minimum and lower maximum below and is under the moving averages 50 and 200 days.
R3 - 1.19835
R2 - 1.18878
R1 - 1.17587
Daily Std. Pivot - 1.16630
S1 - 1.15339
S2 - 1.14382
S3 - 1.13091
The EUR/USD dropped over 100 pips today and reached 1.1460. It looks like nothing can stop or slow the pair down any more, but the more it falls, the more suspicious I feel. It cannot fall forever and correction should start sooner or later.
That depends on the ECB. If they go ahead with QE Denmark may cut lose from the Euro much as the Swiss have. Then theres speculation around Draghi.
Could get a lot worse still.
Honestly I am shocked on how far the price went down that quick
Cnbc reckons Euro could reach parity with the dollar soon
EURUSD initially fell making new low at 1.14595, but found enough buying pressure to turn things back around and close in the middle of the daily range. Technically the pair remains in an aggressive downtrend as fresh 11-year lows have been carved out in the latest drop, begging the question: how low can we go? 1.1376 is the November, 2003 low and seems to be the next technical target.
The EURUSD tries to correct, but we must be careful and be on the look out for another drop.
Right, we can see EURUSD currently finds some resistance below the 1.1700.
I guess we have to see how low this will go, we have ECB this Thursday.
EUR/USD continued to fall on Friday to negotiate below 1.15.
When it reached the level of 1.1467 (S1) sounded the bull alarms and recovered.
The trend continues in a clear downward movement and below 1.1467 (S1) we can see the EURUSD hit the barrier of 1.1368 (S2), defined minimum of 7 November 2003.
R3 - 1.18458
R2 - 1.17471
R1 - 1.16567
Daily Std. Pivot - 1.15580
S1 - 1.14676
S2 - 1.12785
S3 - 1.12785