On the last Friday’s session the EURUSD dived once again but this time with a narrow range and closed near the low of the day, also managed to close below Thursday’s low, which suggests a strong bearish momentum.
The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: the 10-day moving average at 1.0981 (resistance), a daily resistance at 1.1097, July swing low at 1.0952 (resistance), a daily resistance at 1.0900 and a daily support at 1.0819.
The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: the 10-day moving average at 1.0981 (resistance), a daily resistance at 1.1097, July swing low at 1.0952 (resistance), a daily resistance at 1.0900 and a daily support at 1.0819.
Euro / dollar had a significant bearish momentum last week, breaking below key support 1.0910 and hitting 1.0858. Expectations are down at short term for testing the support area 1.0825 / 00. A clear break and daily close below that area could lead price to neutral zone testing 1.0715. Immediate resistance is at 1.0910. A clear break and daily close above it could lead price to neutral trading zone testing 1.1000. The main technical outlook is neutral.
EUR/USD seems to have found a steady foundation at its last low of 1.0859. The pair is now slightly higher at 1.0891 and appears to be trading with low volumes. First support zone is expected at 1.0810, first resistance is expected at 1.0970.
victoriajensen
Established member
- Messages
- 648
- Likes
- 10
I agree, EUR/USD formed a double bottom above 1.0860 and started moving to the upside. Currently it's testing 1.0900, a breakout above that level will likely lead to a further move to the upside towards 1.0930, which is (MA)89 on the one-hour time-frame.
Yesterday the EURUSD went back and forward without any clear direction and closed in the red, in the middle of the daily range, furthermore closed within the Friday’s range, which suggests being clearly neutral, neither side is showing control.
The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.1097, the 10-day moving average at 1.0951 (resistance), a daily resistance at 1.0900 and a daily support at 1.0819.
The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.1097, the 10-day moving average at 1.0951 (resistance), a daily resistance at 1.0900 and a daily support at 1.0819.
victoriajensen
Established member
- Messages
- 648
- Likes
- 10
EUR/USD is forming a tight sideways consolidation above the support at 1.0860. It's unlikely it will end before Mario Draghi speaks later today.
EUR/USD has been trading in consolidation for the past few days gravitating towards 1.0880. Lite volumes indicate that the trend is exhausted, which means that either the pair is taking a breather before nose diving or that bulls are preparing at attack. Current market price 1.0887.
The single currency marked close to neutral session against the US dollar on Tuesday. So the pair is again seen at Friday’s levels and continued to move within a narrow range. Support is located at 1.0849 and 1.0803. Resistance is seen at 1.1040 and 1.1094.
Yesterday the EURUSD went back and forward again without any clear direction but this time closed in the green, in the middle of the daily range, furthermore closed within the Friday’s range, which suggests being clearly neutral, neither side is showing control.
The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.1097, the 10-day moving average at 1.0934 (resistance), a daily resistance at 1.0900 and a daily support at 1.0819.
The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.1097, the 10-day moving average at 1.0934 (resistance), a daily resistance at 1.0900 and a daily support at 1.0819.
victoriajensen
Established member
- Messages
- 648
- Likes
- 10
EUR/USD bounced off 1.0860 after forming a pair of spinning top candlesticks on the daily time-frame above that support. Next target is likely 1.0990 - 1.1000.
Last edited:
The euro registered a slight increase against the US dollar on Wednesday. The pair peaked at 1.0945, which is the highest value for the past week. But the rally didn’t last long and the price dropped toward 1.0850. Support is now located at 1.0849 and 1.0803. Resistance is placed at 1.1040 and 1.1094.
Yesterday the EURUSD tried to rally but found enough resistance at the 10-day moving average to give back to the market some of its gains and closed in the middle of the daily range, however managed to close above previous day high, which suggests a bullish momentum.
The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.1097, the 10-day moving average at 1.0927 (resistance), a daily support at 1.0900 and other daily support at 1.0819.
The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.1097, the 10-day moving average at 1.0927 (resistance), a daily support at 1.0900 and other daily support at 1.0819.
victoriajensen
Established member
- Messages
- 648
- Likes
- 10
EUR/USD is still slowly moving to the upside, but the volatility is almost absent from this pair for now. Unless the fundamentals tomorrow provoke more volatility I doubt we'll see it reach its target at 1.1000 this week.
The consolidation in EUR/USD continues to be present in the currency's early European trading today. The pair is now 1.0904 after yesterday's bullish attempt to climb higher failed due to not enough strength in yesterday's US data.
Durable Goods Orders turned out to be non-event and market participants witnessed only a slight reaction to the upside at 1.0942. After the initial boost, the pair lost momentum and fell to pre-event levels. Today is the fifth consecutive day of lite volume trading for the pair, as it has been holding to levels around 1.09 since the beginning of the week.
However, we have one more chance to see volatility today with the latest high impact US GDP data. Expectations are that the US GDP for Q3 will be 2.4%, prior to 1.4%.
If the data is positive, then we can expect a sharp drop in the pair that could lead us to levels around 1.0820. On the other hand, a disappointing report would help bulls to gain control and push prices higher.
Durable Goods Orders turned out to be non-event and market participants witnessed only a slight reaction to the upside at 1.0942. After the initial boost, the pair lost momentum and fell to pre-event levels. Today is the fifth consecutive day of lite volume trading for the pair, as it has been holding to levels around 1.09 since the beginning of the week.
However, we have one more chance to see volatility today with the latest high impact US GDP data. Expectations are that the US GDP for Q3 will be 2.4%, prior to 1.4%.
If the data is positive, then we can expect a sharp drop in the pair that could lead us to levels around 1.0820. On the other hand, a disappointing report would help bulls to gain control and push prices higher.
Yesterday the EURUSD tried to rally but found enough resistance once again at the 10-day moving average giving back to the market all of its gains and closed near the low of the day, however managed to close within previous day range, which suggests being slightly on the bearish side of neutral.
The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.1097, the 10-day moving average at 1.0920 (resistance), a daily support at 1.0900 and other daily support at 1.0819.
The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.1097, the 10-day moving average at 1.0920 (resistance), a daily support at 1.0900 and other daily support at 1.0819.
