On Thursday session the euro recorded significant gains against the dollar as the intraday erased most of November’s losses. The euro retained its growth today against other major currencies after yesterday recorded its biggest one-day rise of nearly seven years amid weaker than expected stimulus from the European Central Bank.
Yesterday the made a massive rally of 321 pips and closed near the high of the day although shy below the 50-day moving average after the European Central Bank disappointing high market expectations for greater stimulus.
Today we will have the non-farm payrolls and unemployment rate in the US, also being another market mover.
The key levels to watch are the 1.1097 (resistance), a 200-day moving average at 1.1078 (resistance), the 50-day moving average at 1.0931 (resistance), 1.0900 (Support) and 1.0819 (support).
Today we will have the non-farm payrolls and unemployment rate in the US, also being another market mover.
The key levels to watch are the 1.1097 (resistance), a 200-day moving average at 1.1078 (resistance), the 50-day moving average at 1.0931 (resistance), 1.0900 (Support) and 1.0819 (support).
Sherif Fares
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EUR/USD is truing to rebound with the NFP and unemployment data. But It can be only a correction before continue to rise. Both ways no chance for me until I see the close of today.
victoriajensen
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Usually the NFP provokes a bigger reaction than what we saw on Friday.
That said, if the move to the upside continues, I think we might see the pair reach 1.1050, even 1.1100.
sugarlandFX
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Sell EURUSD to 1.0685, then look to enter back in again and go long to 1.1260...Trading 1 standard lot, you stand to make around $7,000...Get back for more great trades. Thanks
On Friday session the single currency recorded a slight decline against the dollar on Friday and lost 63 pips. The session started at a price of 1.0937. The data on unemployment in US for November was crucial. The price bounced back, but at the end of the session the pair ended in red at a price of 1.0874.
On Friday session the EURUSD initially rose but found enough resistance above the 50-day moving average to turn around and closed in the red near, in the middle of the daily range also closing within previous day range, suggesting that the pair turn into a consolidation mode and maybe topped out.
The 50-day moving average is pushing the currency down acting as a strong resistance.
The key levels to watch are the 1.1097 (resistance), a 200-day moving average at 1.1078 (resistance), the 50-day moving average at 1.0931 (resistance), 1.0900 (resistance) and 1.0819 (support).
The 50-day moving average is pushing the currency down acting as a strong resistance.
The key levels to watch are the 1.1097 (resistance), a 200-day moving average at 1.1078 (resistance), the 50-day moving average at 1.0931 (resistance), 1.0900 (resistance) and 1.0819 (support).
Sherif Fares
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I completely Agree with you after the spike the movement will be slow, I will wait for confirmation to break 1.0800 before opening a position.
victoriajensen
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The pair formed a doji candlestick on the four-hour time-frame above the support at 1.0800, so we might see another move to the upside towards 1.0900.
Good to know that, I will keep an eye on it, thank you.
fxstrategist
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Eurusd
The 1.0800 level has acted as a good support, but the price may try to break that level once again.
The 1.0800 level has acted as a good support, but the price may try to break that level once again.
The single currency recorded a modest decline against the dollar on Monday, losing 37 pips. The pair recorded a volatile session and managed to break through the first support at 1.0854. The graphics continues to develop over moving averages, while the relative strength index remained in neutral territory. If the bearish trend continues, the pair will try to break the next support at 1.0676.
Yesterday the EURUSD fell with a narrow range and close in the middle of the daily range but below the previous day range, suggesting a mildly bearish to a ranging tone.
Yesterday the pair held the daily support at 1.0819 and a close above the 50-day moving average would set the bullish tone for the next days.
The key levels to watch are the 1.1097 (resistance), a 200-day moving average at 1.1078 (resistance), the 50-day moving average at 1.0902 (resistance), 1.0900 (resistance) and 1.0819 (support).
Yesterday the pair held the daily support at 1.0819 and a close above the 50-day moving average would set the bullish tone for the next days.
The key levels to watch are the 1.1097 (resistance), a 200-day moving average at 1.1078 (resistance), the 50-day moving average at 1.0902 (resistance), 1.0900 (resistance) and 1.0819 (support).
victoriajensen
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The pair has been consolidating all day but I noticed that it also formed a hammer candlestick above the support at 1.0800 on the daily time-frame which is another indication that we should probably expect a move to the upside towards 1.0900.
Goldman Sachs still expect parity in EUR/USD
The forex strategists of Goldman Sachs revised upwards their forecast for the euro, but still expect it to reach parity with the dollar in the next 12 months.
From Goldman Sachs reviewed quarterly expectations for EUR/USD of $1.02 to $1.07, semi - from $1.00 to $1.05, and 12-month - from $0.95 to $1.00.
The forex strategists of Goldman Sachs revised upwards their forecast for the euro, but still expect it to reach parity with the dollar in the next 12 months.
From Goldman Sachs reviewed quarterly expectations for EUR/USD of $1.02 to $1.07, semi - from $1.00 to $1.05, and 12-month - from $0.95 to $1.00.
Sherif Fares
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EUR/USD rebounded from yesterday low and failed to break 1.0800 now it is testing resistance level 1.0900 still I dont see an appropriate entry point. until price close over 1.0900 or under 1.0800
