victoriajensen
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I agree, the pair is headed for 1.0550 - 1.0500. Should it manage to break below that level we might even see it attempt to reach parity again.
I agree, the pair is headed for 1.0550 - 1.0500. Should it manage to break below that level we might even see it attempt to reach parity again.
Sherif Fares
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EUR/USD closed above the support level 1.0820 a break under will lead to more drop to test 1.0725.
fxstrategist
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The Euro may continue dropping, but we dont have that may US fundamentals this week.
On Friday session the EURUSD tried to rise but found enough selling pressure to turn back south, breaking below the 61.8% Fibonacci level (support) at 1.0860 and closed in the red at the low of the day. After a clear down run of 5 days we should expect some consolidation or even a minor pullback before the resumption of the downward trend.
The single currency recorded the third consecutive drop against the dollar on Friday. The session started at a price of 1.0873 and just before lunch reached a daily high at 1.0906. In the afternoon the direction went down at the end of the day the pair finished at a price of 1.0844. In case that the downward trend of the last few sessions continue, most likely the euro will be able to break through the first support at 1.0817.
victoriajensen
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EUR/USD is still testing the support at 1.0820 and it looks like it may bounce off that level for now. I expect a further move to the upside to the resistance at 1.0880 before the pair attempts to break below the support again.
Sherif Fares
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Support level 1.0820 still hold the EUR/USD from dropping.
The euro reported a slight decrease on Monday, marking the fourth consecutive negative session. The pair opened at a rate of 1.0830, then the price went up slightly, reaching the highest level for the day at 1.0869. Later the direction was reversed and the single currency reached a daily bottom at 1.0808, breaking the support at 1.0817. The day ended at a rate of 1.0824, slightly above the support level.
Yesterday the EURUSD initially tried to rally but found selling pressure on the 61.8% Fibonacci level (resistance) at 1.0860, to give all its gains back to the market and close near the low of the day with a narrow range day. Key levels to watch today are: a daily resistance at the 61.8% Fibonacci level at 1.0860 and key level (minor support) at 1.0808.
Sherif Fares
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Finally a rebound from the support level after a tight range trading yesterday.
victoriajensen
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EUR/USD returned to the resistance at 1.0970, the question is whether it will be able to break above it so it can continue moving to the upside or should we expect it to test the support at 1.0820 again.
Yesterday the EURUSD rose closing in the green near the high of the day on a wide range day. The currency found some resistance at the Fibonacci level 50% at 1.0955 that also overlaps with the 10-day moving average and a solid close above these levels might trigger a mid-term shift in the trend. Key levels to watch today are: Fibonacci levels the 38.2% (resistance) at 1.1058, the 50% (resistance) at 1.0955 and the61.8% Fibonacci level (support) at 1.0860.
On yesterday’s session EUR registered a sharp rise against the USD. The session started at a price of 1.0824, then went a little downward and reached the daily bottom at 1.0811. Later on the direction was reversed and the strong upward move closed EUR at 1.0933. If the bullish sentiment continue, we can expect the first test of resistance at 1.1034.
Sherif Fares
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EUR/USD rebounded from the resistance level 1.0970 which will give more room for testing back again 1.0820.
victoriajensen
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EUR/USD might have bounced off 1.0970 but it looks like it will attempt to break above the resistance again.
