K.I.S.S analysis EUR/USD

The EUR/USD is trading between the 200SMA and the support line. 1.10 remains a crucial level. Below it we might see an attempt for 1.09, above it we should get a close above the 200SMA for a new trend to begin.
 
Yesterday the EURUSD went back and forward again but this time with a narrow range and closed in the middle of the daily range, in addition managed to close within the previous day range, suggesting lack of momentum and possible consolidation.

The pair is trading below the 10 and the 200-day moving averages that are acting as dynamic resistances however is still trading above the 50-day moving average that are acting as dynamic support. The moving averages are squeezing the price let’s wait to see where it will pop.

The key levels to watch are: The previous swing high at 1.1376, a daily resistance at 1.1237, the 10-day moving average at 1.1072 (resistance), a daily resistance at 1.1097, the 200-day moving average at 1.1024 (resistance), 50-day moving average at 1.0986 (support) and a daily support at 1.0900.
 
Finally EUR/USD under the support level. I can close the short position now and wait for the price on Monday under 1.0900 for another position.
 
EUR/USD will most likely reach 1.0900, the question is whether it will be able to break below that support and continue falling.
 
This morning EUR/USD broke out below support, after USD rallied on better than expected GDP data.
 
I can see two scenarios here – the basic (1) and alternative (2).
22e6d9d63ba7.png
 
'Brexit' fears and all the talks about the upcoming referendum campaign keep dragging the pair down, immediate support can be found at 1.0900 level.
 
On the last Friday’s session the EURUSD initially rose but found enough resistance at the 10-day moving average to reverse and close near the low of the day, in addition managed to close below the previous day low, suggesting a strong bearish momentum.

The pair is trading below the 10, 50 and the 200-day moving averages that are acting as dynamic resistances.

The key levels to watch are: A daily resistance at 1.1097, the 10-day moving average at 1.1063 (resistance), the 200-day moving average at 1.1024 (resistance), 50-day moving average at 1.0984 (resistance), a daily support at 1.0900 and other daily support at 1.0819.
 
The EUR/USD is trading below support in today's hours of the European session. Price reached 1.0879 as today's low so far and is now currently trading at 1.0890. With the US economy gaining strength, the momentum of the positive news on Friday is still being felt.

Technically speaking, we can expect 1.0840 to act as a first support due to prior pivot point being met. If this level is wiped, second support level is seen at 1.08 as a psychological support.

Major resistance that bulls have to take out is the level of 1.1050 which is the 200SMA and the lower trend line on the long-term ascending channel.
 
If the pair breaks below 1.0870 it will likely continue towards 1.0800, I think. Not to mention that considering the multi-week range visible on the weekly time frame the long-term target is at 1.0600.
 
a second drop today for the EUR/USD, price is heading towards the next support level 1.0810. It is safe to close my position around 1.0850.
 
As a result of the disappointing CPI numbers , the euro trimmed its pre-market gains to trade down 0.31% at $1.0892.
 
The EUR/USD support level at 1.0850 is tested and breaking below it will open the door to the pair to test the 1.0830.
 
You must log in or register to reply here.

Similar threads

I
GBP/USD Long set up with respected levels
Replies
0
Views
1K
inakocibelli
I
A
EUR/ USD Daily Technical Analysis 3rd August 2012
Replies
3
Views
1K
Amy Forex
A
G
EUR/USD Analysis
Replies
4
Views
2K
bitrader
B
winyoung
AUD/USD Price Analysis
Replies
0
Views
489
winyoung
winyoung
SOLIDECN
Gold Updates by Solid ECN
2
Replies
38
Views
3K
iskanderry
I
Top