Sherif Fares
Active member
- Messages
- 181
- Likes
- 3
Another Green day for the EUR/USD and the U.S stock market is facing selloffs.
victoriajensen
Established member
- Messages
- 648
- Likes
- 10
EUR/USD bounced off the resistance at 1.1712 but that is probably temporary. Should the pair break above that level it will likely reach the resistance at 1.1800 visible on the monthly filter chart.
On Monday session the single currency continued its strong performance against the dollar for a fourth day. The euro recorded the most profitable session since mid-March, adding 240 pips and closed at seven-month high of 1.1616. The daily limit values were recorded at 1.1704 and 1.1369. Ongoing concerns about the global economic development and the upcoming rise in US interest rates this year helped to boost the EUR / USD. Technical attitudes are positive and next target is 1.1710.
Yesterday the EURUSD rallied once again breaking above a daily resistance at 1.1556 although closed in the middle of the daily range, signs that the bulls are losing some strength. The currency is extreme overbought and we may see a pullback to the 1.1460 level before another push upward.
Sherif Fares
Active member
- Messages
- 181
- Likes
- 3
EUR/USD rebounded from highest price since January and now testing strong support line 1.14280.
victoriajensen
Established member
- Messages
- 648
- Likes
- 10
If it breaks below that support it might keep falling until it reaches target 1.1180.
Last edited:
On Tuesday EUR/USD broke the four-day rally, given that the euro has depreciated by nearly 100 pips against the dollar to a closing price of 1.1515. The session was held within the extreme values at 1.1620 and 1.1397. Relative strength index retreated from extreme levels, but continues to support the bulls and graphics develops over moving averages, alluding a continuing growth.
Yesterday the EURUSD pair fell after a rally of four straight days and closed in the red near the low of the day on a narrow range, creating an inside day. The currency did not managed to stay above the daily resistance at 1.1556 suggesting that a stronger pullback may be coming in the next few days.
victoriajensen
Established member
- Messages
- 648
- Likes
- 10
EUR/USD continued falling and reached the support at 1.1320. I think that should it break below that support it will probably continue moving to the downside at least until it reaches the the support at 1.1170 which coincides with the (89)MA on the four hour filter chart.
EUR/USD continued to lose for the second consecutive session on Wednesday. The euro depreciated by nearly 200 pips to a closing price of 1.1312. The daily limit values were reached respectively at 1.1560 and 1.1291. The chart continues to develop over upward moving averages, but the relative strength index passed the negative territory. A break of 1.1290 will contribute to the bearish sentiment.
Yesterday EURUSD fell breaking below the inside day made on Tuesday and close near the low of the day on a wide range day as the US durable goods rose unexpected to 2% compared to the market expectations for a decline of 0.4%. Key levels to watch today are: the daily support zone from 1.1237 down to 1.1097.
Sherif Fares
Active member
- Messages
- 181
- Likes
- 3
EUR/USD pull back for the third day with high volatility price will be testing support level 1.1200 and then the MA(20).
victoriajensen
Established member
- Messages
- 648
- Likes
- 10
EUR/USD reached the support at 1.1190 coinciding with the (89)MA on the four-hour filter chart. So far it hasn't been able to break below that level but should it manage to do so I think we can expect a further move to the downside towards target 1.1080.
The euro continued to lose against the dollar for a third consecutive day on Thursday and is about to record a negative week. The single currency has lost nearly 70 pips to a closing price of 1.1244. The daily limit values were reached respectively at 1.1363 and 1.1202. The price overcame the 50-period moving average, while the relative strength index remains negative in territory. Breaking the 1.1180 level will support the bearish sentiment.
Yesterday the EURUSD fell for the 3rd consecutive day but with a narrow range (fading downward momentum) and closed in the red near the low of the day. The currency held on a daily support at 1.1237 where it can be at a good turning point but a close above the 10-day moving average may suggest the end of the current pullback and the start of another bullish move.
Sherif Fares
Active member
- Messages
- 181
- Likes
- 3
EUR/USD broke the psychological support 1.1200 and now heading for the next support line 1.1160. but I don't think there will be a break before the market close.
victoriajensen
Established member
- Messages
- 648
- Likes
- 10
I think we can expect it to fall much lower than that next week. It will likely reach 1.1070.
Sherif Fares
Active member
- Messages
- 181
- Likes
- 3
EUR/USD closed above the MA(20) but a further drop is expected next week let's see i am waiting for the price under the support line 1.1160.
On Friday session the EURUSD pair fell for the fourth straight day and closed in the red near the low of the day on a narrow range. The currency made a stronger pullback and is trading within a daily support zone from 1.1237 down to 1.1097. A break above the 1.1237 will suggest another up run to 1.1555.
On Friday the euro recorded a fall against the dollar. The single currency depreciated for the fourth consecutive session and thus came close tothe support at 1.1105. In the short term it is expected price correction and the pair to recover some of the losses by testing the resistance at 1.1329. Trade on Friday launched at 1.1244 and finished 58 pips below. Bulls prevailed in the early hours of the session, but then later the direction was changed and currencies hit bottom for the day at 1.1155.
