EUR/USD rose to the descending short term trendline, 1.1548 (R1).
A clear move above that level may confirm a steeper climb.
The momentum studies indicate a potential for higher climbs.
The RSI (14) is out of oversold.
The daily MACD crossed the signal line.
However the long term pricing structure is still descending.
R3 - 1.17434
R2 - 1.16209
R1 - 1.15483
Daily Std. Pivot - 1.14258
S1 - 1.13532
S2 - 1.11581
S3 - 1.11581
Very useful assessment, Totally agree with it, thank you.
price broke the support and need to stabilize under to confirm the direction. have a good weekend everyone!
We had outstanding performance of the Nonfarm Payrolls data, which lead the EUR/USD is ending the week at 1.1312, below the 200 MA, I guess we are back to ranging and waiting for any developments in Greece next week.
I think you are right, it seems we are back to ranging.
continuation of the downtrend is possible on the EURUSD.
EURUSD fell during the course of Friday session, after a strong U.S employment report reinforced expectations for a mid-year rate hike by the Federal Reserve. So a break below 1.13 handle may pull the pair down to the 1.1236 or even to the year low at 1.1097.Rallies should continue to offer selling opportunities on short-term charts.
Personally, I think if EUR/USD manages to break above the resistance at 1.1350 correction will continue for now and the pair will likely keep climbing until it reaches target 1.1600.
EUR/USD fell on Friday with the release of US employment data.
These were better than expected.
The short-term trend of the EUR / USD may be considered neutral.
On a broader perspective we can consider that the long-term trend remains downward.
The EUR / USD continues to make lower maximum and minimum and below both moving averages 50 and 200 days.
R3 - 1.16013
R2 - 1.15430
R1 - 1.14278
Daily Std. Pivot - 1.13695
S1 - 1.12543
S2 - 1.11960
S3 - 1.10808
support level turned to be a resistance now price keep bouncing undecided around 1.1380
Very useful analysis, thank you.
EURUSD initially tried to fall during the course of yesterday session, but found enough ground at the 1.13 level to bounce and create a doji pattern. The pair is trading below the 10-day moving average; this suggests that the price could test a daily support at 1.1236 or even go for the low of the year at 1.1097.
Yesterday I thought that EUR/USD might have a chance to break above the resistance at 1.1350 and reach 1.1600, but after it formed a marubozu and a spinning top candlestick in the daily filter chart right under the aforementioned resistance I am not so sure any more. It will likely move to the downside and continue the bearish trend or it will form a double bottom at the support at 1.1150 and continue the correction.
EUR / USD moved slightly downwards closing virtually unchanged.
Despite the short-term lateralization is a clear downward trend in the long run.
The minimum and maximum lower and below the moving averages of 50 and 200 days.
R3 - 1.14545
R2 - 1.14068
R1 - 1.13652
Daily Std. Pivot - 1.13175
S1 - 1.12759
S2 - 1.12282
S3 - 1.11866
the trading range is very narrow with almost no movement at all.
I agree with you Sherif that today was quiet day.
EURUSD fell initially during the course of yesterday session, but found enough support near previous day low at 1.1270 to turn things back around and form another doji pattern. The pair continues to consolidate below the 10-day moving average with a thigh range. A break above the 10-day moving average could push the pair a daily resistance at 1.1555 on the downside a break below previous day low could pull the EURUSD to year lows at 1.1097.
ADX signaled an increase in market trend towards the up, possibly indicating that the market temporarily goes up, prior a continuing downtrend. From AtoZForex, it is possible that the price breaks 1.130, then the price might fall to 1.100.
EUR / USD fell slightly yesterday.
In the short term, without relevant news, the EUR/USD is expected to remain neutral.
In a longer-term analysis, the price structure also suggests a long-term downward trend in revealing minimum and lower highs.
R3 - 1.14239
R2 - 1.13843
R1 - 1.13515
Daily Std. Pivot - 1.13119
S1 - 1.12791
S2 - 1.12395
S3 - 1.12067
The EUR/USD consolidation continues. Even if the pair breaks below the support at 1.1270 we cannot be certain that the bearish trend will continue unless it breaks below 1.1150 too.