Yesterday the EURUSD initially fell but found yet again enough buying pressure to break above a daily resistance at 1.1237 and closed in the green near the high of the day, setting a bullish tone for the mid-tem. The key levels to watch today are a previous swing high at 1.1332 (Resistance), a daily resistance at 1.1460 and the previous resistance now support at 1.1237.
The single currency recorded a significant growth against the dollar on Thursday, which technically was the fifth consecutive profitable day for the currency pair. The euro rose by nearly 70 pips to a closing price of 1.1278. The session was held within the extreme values at 1.1294 and 1.1278. The price went above moving averages, while the index of relative strength develops in positive territory. Break of 1.1290 will confirm the current optimism and the next target is 1.1320.
victoriajensen
Established member
- Messages
- 648
- Likes
- 10
EUR/USD will probably continue climbing until it reaches the resistance at 1.1440 visible on the weekly filter chart. Depending on the events on next Wednesday it might even continue rising until it reaches the previous high on 1.1713.
Sherif Fares
Active member
- Messages
- 181
- Likes
- 3
RSI is mixed to bullish and the price is facing resistance at 1.1360 then 1.1400. yet the market is bullish before the FED meeting next week which will have a huge effect on the market.
On Friday session the EURUSD pair rallied for a second straight day and closed in the green near the high of the day with a narrow range. The currency is in a well-established bullish phase after the golden cross last week and trading well above the 10-day moving average.
The key levels to watch today are 1.1495 (Resistance) and 1.1237 (Support) and we may have a pullback to the 1.1237 (Support) before another push upward.
The key levels to watch today are 1.1495 (Resistance) and 1.1237 (Support) and we may have a pullback to the 1.1237 (Support) before another push upward.
The euro recorded a rise on the last day of the week. The EUR/USD opened at a price of 1.1278 after steady upward trend throughout the session and in the end closed at a rate of 1.1341. The pair managed to break the first resistance at 1.1290 and if the trend continues, the next target will be the second resistance at 1.4300.
Sherif Fares
Active member
- Messages
- 181
- Likes
- 3
EUR/USD rebounded from the weekly resistance 1.1370 I don't think any major support or resistance will be broken or a wide range of movement to happen until the interest rate decision.
EUR didn’t record a significant change on Monday, despite the relatively volatile session. The pair recorded a small fall, but failed to break through levels at 1.1290. Relative strength index moved in positive territory as the pair remains above the 100-period moving average. Break of 1.1290 will target EUR/USD to 1.1180.
Yesterday the EURUSD went back and forward with a narrow range, closing in the red shy below the open of the day. The currency made a pause after a straight 2 day rally suggesting that traders are taking their foot off the gas as the main event for this week and the one that all markets have been waiting for, the FOMC meeting will take place on Thursday the 17th September. The key levels to watch today are the same of yesterday 1.1495 (Resistance) and 1.1237 (Support).
victoriajensen
Established member
- Messages
- 648
- Likes
- 10
It looks like the multi-day flag on the EUR/USD four-hour filter chart is finally over. The pair is likely headed for 1.1230 and should it break below that support we can probably expect a further move to the downside.
Sherif Fares
Active member
- Messages
- 181
- Likes
- 3
I don't know if the market will move 50 more pips to the downside specially after the negative data from both EU and the US today.
Euro recorded a second consecutive loss against the dollar on Tuesday. Bearish trend prevailed throughout the session and as a result of this the support at 1.1290 was broken in the early hours. It’s most expected that the downward direction of the pair to continue until reaching the key level at 1.1180. Trading on Tuesday started at a rate of 1.1315, EUR lost 48 pips and bottom of the day was hit at 1.1258.
Yesterday the EURUSD pair fell on a narrow range day and closed in the red near the low of the day, shy above the 10-day moving average. A close below the 10-day moving average may suggest a more aggressive pullback. The key levels to watch today are the same of yesterday 1.1495 (Resistance) and 1.1237 (Support). FOMC meeting just around the corner.
