K.I.S.S analysis EUR/USD

I think that EUR/USD asset will go down.

eurusd.png
 
Traders are disappointed with FOMC minutes, and the Dollar is still suffering from it, correction movement continues just above 1.0700 level.
 
Apparently some correction is in order. The pair is headed for the resistance at 1.0800. I doubt that's the end of the bearish trend though.
 
EUR/USD made a correction from 1.065 level, I don't see further correction until price break 1.0728 and close above it on the 4 hour chart.
 
On Thursday session the single currency recorded an increase against the US Dollar. The session started at 1.0658 and ended 74 pips higher. The bulls prevailed and the first resistance at 1.0676 was broken. Expecting further increase of the euro and a break of next resistance at 1.0854.
 
Yesterday the EURUSD rose with a wide range and closed in the green near the high of the day, shy above the 10-day moving average. The question is if the pair has enough strength to follow thru the upward momentum.

The key levels to watch are the 1.0900 (Resistance), 1.0819 (resistance), the 10-day moving average at 1.0719 (resistance), a Fibonacci extension at 1.0703 (support) and 1.0622 (Support).
 
Draghi talking the Euro down again, with the markets are lacking momentum at the present the pair still remains range between 1.0600-1.0800.
 
The EUR/USD fell to the Fibonacci R2 at 1.0642 and lost all the Thursday gains, as the down trend still strong. let us see what is next week will reveal.
 
I doubt the pair will succeed in breaking below the last low at 1.0616 before the market closes today but next week it probably will and we will see a further move to the downside towards 1.0520.
 
Eurusd

The EURUSD keeps dropping below the 1.0700 level. Next week it may reach the 1.0600 or even break below it.
 
The euro recorded a decline against the dollar on Friday. The single currency completely lost the lead from the previous session and thus the pair moved to the support at 1.0613. Considering that short-term indicators are still in favor of the dollar, the probability to break the key level remains high. The session on Friday started at 1.0732 as from the beginning the bearish trend was leading . Bottom of the day was hit at 1.0640, and the session ended with only 4 pips higher.
 
On Friday session the EURUSD plunged with a narrow range and closed in the red near the low of the day.

The pair failed for the 2nd time to close above the 10-day moving average and continues to consolidate in a tight range from 1.0620 up to 1.0755. A close outside these ranges would suggest the beginning of a new trend.

The key levels to watch are the 1.0819 (resistance), a Fibonacci extension at 1.0703 (resistance), the 10-day moving average at 1.0695 (resistance), 1.0622 (Support), and 1.0462 (support).
 
I wait recovery and go short at 1.0700/08, stop above 1.0834, for 1.0500. Resistance moves to 1.0708 initially, then 1.0728, with last Thursday’s high and 13-day average at 1.0747/63 expected to cap to keep the trend directly lower.
 
We are looking for further weakness in Euro, the pair is retreating at 1.0624 currently, break below it would mean next target 1.0601 and follow by 1.0519.
 
In my opinion, this week, the dollar will likely trade in a range against other major currencies, in expectation of the meetings of the Federal Reserve and the European Central Bank next month.
 
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