Following the Fed’s decision the EUR/USD pair tumbled and marked the lowest level since 2003 during yesterday’s session. The pair bottomed at 1.0366 and failed to recover to 1.0500 level. Current market price is 1.0389. A weekly close below the 1.0400 are will set next bears target at 1.0200.
Yesterday the EURUSD fell with a wide range again and closed near the low of the day, in addition managed to close below previous day low, which suggests a strong bearish momentum.
The currency pair continues to trade below the 10, 50 and the 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a Fibonacci extension at 1.0666 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0616 (resistance), a daily resistance at 1.0462 and the new multiyear low at 1.0366 (support).
The currency pair continues to trade below the 10, 50 and the 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a Fibonacci extension at 1.0666 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0616 (resistance), a daily resistance at 1.0462 and the new multiyear low at 1.0366 (support).
victoriajensen
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EUR/USD retraced back to the support level at 1.0462, which has now become a resistance and bounced off of it. It's currently testing the support at 1.0440 and a breakout below that level will likely lead to a further drop towards 1.0400.
The euro extended its losses at the end of the week, despite a sharp rise in the manufacturing index of Germany. The single currency fell to a 14 year low against the US dollar. Recent data from the euro zone were mixed. EUR/USD closed the week at 1.0449, moving closer to parity.
EUR/USD is trading somehow lower in the early opening hours of the week. The pair is now 1.0459 up from 1.0366. Main trend remains bearish as the pair broke the support level at 1.04. The break suggest that a move down is likely which hints to a probable parity in 2017.
On the last Friday’s session the EURUSD rose with a narrow range and closed near the high of the day, although the currency pair closed within Thursday’s range, which suggests being slightly on the bullish side of neutral.
The currency pair continues to trade below the 10, 50 and the 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a Fibonacci extension at 1.0666 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0586 (resistance), a daily resistance at 1.0462 and the new multiyear low at 1.0366 (support).
The currency pair continues to trade below the 10, 50 and the 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a Fibonacci extension at 1.0666 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0586 (resistance), a daily resistance at 1.0462 and the new multiyear low at 1.0366 (support).
victoriajensen
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EUR/USD is still very bearish and it has almost reached the support at 1.0400 again. A breakout below that level will likely lead to a further move to the downside towards the previous low at 1.0366.
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EUR/USD is trading with little to no change in today's opening hours. The pair is now 1.0404, down from today's high of 1.0479. If we break below 1.04 again then bears might have the upper hand and we could see parity in the near future. First support is seen at last low at 1.0366.
The EUR/USD pair started the new week with resuming the downward slide. Yesterday the pair closed at 1.0401. The positive data on the business climate in Germany, provided by Ifo, failed to support the single currency. Technically bears continue to dominate and 1.0365 is the immediate goal.
Yesterday, the EURUSD initially tried to rally but found enough resistance at 1.0462 to give back all its gains to the market and closed near the low of the day, although the currency pair closed within Friday’s range, which suggests being slightly on the bearish side of neutral.
The currency pair continues to trade below the 10, 50 and the 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a Fibonacci extension at 1.0666 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0523 (resistance), a daily resistance at 1.0462 and the new multiyear low at 1.0366 (support).
The currency pair continues to trade below the 10, 50 and the 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a Fibonacci extension at 1.0666 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0523 (resistance), a daily resistance at 1.0462 and the new multiyear low at 1.0366 (support).
victoriajensen
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The EUR/USD move to the downside continues - the pair is testing the support at the previous low at 1.0366. If it breaks out below that level it will likely continue falling towards 1.0300.
EUR/USD is now trading slightly above 1.0405, better than yesterday's levels below the psychological 1.04 level. The pair seems more confident to try and make move to the upside before the weekend. However, bears have the upper hand and if they manage to bring it back below 1.04 for the day this might act as a catalyst for future depreciation in the near-term.
During yesterday’s trading the euro lost value against the dollar for a second day. The single currency depreciated by 15 pips to a closing price of 1.0386, marking a new near 14-year low at 1.0351. The sentiment remains bearish. Support is now located at 1.0365 and lower at 1.0320. Resistance is seen at 1.0520 and 1.0665.
Yesterday, the EURUSD initially tried fell but found enough support at 1.0366 to trim most of its losses and closed in the middle of the daily range, although the currency pair managed to close below previous day low, which suggests being a bearish momentum.
The currency pair continues to trade below the 10, 50 and the 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a Fibonacci extension at 1.0666 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0500 (resistance), a daily resistance at 1.0462 and the new multiyear low at 1.0352(support).
The currency pair continues to trade below the 10, 50 and the 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a Fibonacci extension at 1.0666 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0500 (resistance), a daily resistance at 1.0462 and the new multiyear low at 1.0352(support).
marketwizard123
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I agree the EURUSD is in the worst place it has been for a long time, i dont see anything but another downwards move soon, we are falling below previous supports in 2015 and 2016 now, nothing but space under there until the psychological level of parity imho
Chart not happy today: http://www.stock-trkr.co.uk/live-charts/forex/eur_usd_live_chart
victoriajensen
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EUR/USD bounced off 1.0350 and moved to the upside again. It's currently testing the resistance at 1.0420 and a breakout above that resistance will probably lead to a further move to the upside towards 1.0460 - 1.0470. There likely won't be any major changes around the holidays.
EUR/USD is trading barely unchanged from yesterday's levels still gravitating towards the 1.04 level. Price is now a bit higher at 1.0445 and it seems that a correction is at hand as we approach years end. Important news are scheduled for later today that may alter current pace and direction.
