The single currency remained practically unchanged against the US dollar at a level of 1.0965. The graphics continued to develop above the moving averages, while the index of relative strength remained at neutral territory. The peak was reached at 1.0992 and the bottom at 1.0958. The outlook remains positive, as an immediate target are levels at 1.0975.
victoriajensen
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EUR/USD reached the resistance at 1.0990 - 1.1000, failed to break above that level and fell sharply. The pair will likely reach the support at 1.0900, and if it breaks out below that level it will continue towards the next support at 1.0800.
Sherif Fares
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EUR/USd is testing the support level 1.0920, I need to see a close under the support level next level will be 1.08340 which is the month lowest close price.
The single currency recorded a decrease against the US dollar on Tuesday. The session started at a price of 1.0965 and ended 47 pips lower. Daily extreme values were reached respectively at 1.0991 and 1.0899. If EUR/USD meet the negative attitudes, next target seems to be levels at 1.0854.
victoriajensen
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The pair reached 1.0900 but couldn't break below that support. Range will likely continue, so we can expect a new move to the upside towards 1.0980 again.
Thanks again. I noticed the pair went down to 10901 and then rebounded.
This may sound like a silly question but could someone please clarify why support and resistance works on Forex, as unlike the stock exchange there is no shares to own. Also who would actually monitor the price of a pair down to the point, i.e, 10901 and not 10900 before deciding to buy.
Kind regards Pari.
This may sound like a silly question but could someone please clarify why support and resistance works on Forex, as unlike the stock exchange there is no shares to own. Also who would actually monitor the price of a pair down to the point, i.e, 10901 and not 10900 before deciding to buy.
Kind regards Pari.
Sherif Fares
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still EUR/USD is around the support level and I dont think much will change before the end of the week.
Thank you Abdul and Sherif,
Would either of you be able to answer the other half of my question by any chance?
'This may sound like a silly question but could someone please clarify why support and resistance works on Forex, as unlike the stock exchange there is no shares to own. Also who would actually monitor the price of a pair down to the point, i.e, 10901 and not 10900 before deciding to buy.'
Regards Pari.
Would either of you be able to answer the other half of my question by any chance?
'This may sound like a silly question but could someone please clarify why support and resistance works on Forex, as unlike the stock exchange there is no shares to own. Also who would actually monitor the price of a pair down to the point, i.e, 10901 and not 10900 before deciding to buy.'
Regards Pari.
victoriajensen
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It seems that despite the holidays and the low liquidity of the market EUR/USD did break below 1.0900. The next support is at 1.0820.
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The single currency recorded a humble increase against the US dollar on Wednesday. The session started at 1.0918 and ended just 13 pips higher. Daily extreme values were reached respectively at 1.0943 and 1.0902. If the currency pair continued its upward movement, we can expect an attempt to break the first resistance at 1.0975.
Sherif Fares
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Few hours for the end of 2015 with all its profits and losses, I wish you all a happy new year and a very successful and profitable 2016.
