RookieTrade
Newbie
- Messages
- 4
- Likes
- 0
I think the market will retest the 1.0800 level because we are currently sitting in a down trend. But as you are sayin,, we could get a false breakout in the 1.09400 area, before we continue the down-trend and break below 1.0800 and then we can expect a test of the big low sitting at 1.0710.
Happy trading=)
Sherif Fares
Active member
- Messages
- 181
- Likes
- 3
Another tight range trading today, Price failed to close under support levels. I don't think we will see major break this week.
The pair recorded a moderate decline on Thursday, erasing most of its gains from the previous day. Thus the price remained at familiar territory for the third consecutive session, after failing to keep the daily progress. Session peak was reached at 1.0942, while the lowest point was recorded at 1.0835. Technically the outlook for the EUR/ USD remains neutral in the short term.
On yesterday session the EURUSD initially rose but found enough selling pressure near the last swing high to turn around and closed near the low of the day, however closed within previous day range, suggesting a week bearish momentum.
The pair still managed to close above the 10 and the 50-day moving average that continues acting as a dynamic support.
The key levels to watch are: 200-day moving average at 1.1048 (resistance), previous swing high at 1.0970 (resistance), 10-day moving average at 1.0868 (support), the 50-day moving average at 1.0825 (support) and the last swing low at 1.0711 (Support).
The pair still managed to close above the 10 and the 50-day moving average that continues acting as a dynamic support.
The key levels to watch are: 200-day moving average at 1.1048 (resistance), previous swing high at 1.0970 (resistance), 10-day moving average at 1.0868 (support), the 50-day moving average at 1.0825 (support) and the last swing low at 1.0711 (Support).
victoriajensen
Established member
- Messages
- 648
- Likes
- 10
I did, but I doubt it will be able to break above it before the market closes today. The question is whether or not range will finally end next week.
Sherif Fares
Active member
- Messages
- 181
- Likes
- 3
In short this week EUR/USD was trading in a tight range and sideways. EUR/USD couldnt break The weak opening price.
fxstrategist
Established member
- Messages
- 603
- Likes
- 17
Eurusd
1.0900 level for the EURUSD has been a resting area, price may come out of consolidation in any direction.
1.0900 level for the EURUSD has been a resting area, price may come out of consolidation in any direction.
On Friday session the single currency added value against the dollar, the price remained in wee known ranges. The pair added 54 pips and closed at 1.0917. The price moved above the moving average, while the index of relative strength remained on neutral territory. A break of the first support at 1.0854 will contribute to further decline.
On the last Friday’s session the EURUSD initially rose but found enough selling pressure to give back some of its gains but still closed in the green, in the middle of the daily range, in addition managed to close within the previous day range, suggesting that a consolidation is settling in.
The pair continues to close above the 10 and the 50-day moving average that are acting as a dynamic support.
The key levels to watch are: 200-day moving average at 1.1047 (resistance), previous swing high at 1.0984 (resistance), 10-day moving average at 1.0894 (support), the 50-day moving average at 1.0830 (support) and the last swing low at 1.0805 (Support).
The pair continues to close above the 10 and the 50-day moving average that are acting as a dynamic support.
The key levels to watch are: 200-day moving average at 1.1047 (resistance), previous swing high at 1.0984 (resistance), 10-day moving average at 1.0894 (support), the 50-day moving average at 1.0830 (support) and the last swing low at 1.0805 (Support).
victoriajensen
Established member
- Messages
- 648
- Likes
- 10
Range continues for yet another day and EUR/USD is testing the support at 1.0890 after it bounced off 1.0990. If it breaks below the support it will probably fall towards 1.0800 again.
Last edited:
Sherif Fares
Active member
- Messages
- 181
- Likes
- 3
Even with the opening gap EUR/USD couldn't escape the sideways trading
The single currency recorded decrease against the US dollar on Monday. The session started at 1.0917 and ended 27 pips lower. The graphics continue to develop over moving averages, while the index of relative strength remained on neutral territory. The outlook remains negative and the levels at 1.0854 appear to be the main goal.
