The EUR/USD narrow range continued today and any big changes are unlikely to happen before Monday. I too think the target of this consolidation is likely around 1.1450 but what will follow next depends on whether the pair will manage to break above that level.
I am agree the range is narrow and price is not moving
The downtrend not yet over for the EUR/USD while the pair did not break above 1.1450.
EUR / USD has consolidated yesterday.
German data indicates that is in deflation what increases the possibility of more falls, as shown in the daily chart.
In the long term perspective is downward since the EUR / USD is showing minimum and maximum lower and below the moving averages 50 and 200 days.
R3 - 1.14751
R2 - 1.14212
R1 - 1.13691
Daily Std. Pivot - 1.13152
S1 - 1.12631
S2 - 1.12092
S3 - 1.11571
Following comments by the Greek finmin, eur/usd back to trading below 1.1300 level. I guess downtrend continues.
have a great weekend everyone!
Its still a bearish market with the 1 hour chart ranging at the minute. I will be looking to sell @ 1.1271 and below.
That sounds like good idea.
UK summons Russian envoy after bombers fly over English Channel - CNN.com
Let’s see how eur/usd and gbp/usd would react to the news.
EURUSD is consolidating in a tight range; it looks like the market is taking a pause to bread as the pair waits for the Friday’s nonfarm payrolls.
A lot of volatility on the EURUSD. Lets see in which direction it decides to go.
I agree, we will likely have to wait for the US Non-Farm Payrolls for EUR/USD to break below or above the range.
the market is almost not moving and there are no opportunities on the pair at the moment.
EUR / USD closed the week consolidating.
Remains below the falling trend line and in that trajectory.
The RSI (14 days) crossed above its 30 line, the daily MACD fell and is almost to cross its signal line.
Despite the possible short-term recovery, the price behavior indicates a downward long-term trend.
R3 - 1.14235
R2 - 1.13934
R1 - 1.13368
Daily Std. Pivot - 1.13067
S1 - 1.12501
S2 - 1.12200
S3 - 1.11634
That’s right, eur/usd is trapped in between 1.1275 and 1.1360, I guess we are waiting for a breakout.
It seems that the correction is so close to start but now the market is so slow today.
Eur/usd continues to trade sideways, 1.1365 levels seems to be important resistance level. This pair managed to hold above 1.13 level yesterday, it may test 1.1365 level today.
EURUSD has been sheltered in a tight range since announcing of ECB massive stimulus package. Later today, the EURUSD will get a chance to react to U.S data on Factory Orders.
The pair did react and moved to the upside again. It looks like correction contiues. Next target is likely 1.1530.
Price made a good correction today and price is over the resistance level 1.1380 closing over the resistance will push the price higher.