K.I.S.S analysis EUR/USD

Yesterday EURUSD went back and forward without any clear direction however closed in the red, near the low of the day and managed to close below the previous day low, suggesting a strong bearish momentum.

The pair is trading above the 10, 50 and the 200-day moving averages that should act as a dynamic support.

The key levels to watch are: A daily resistance at 1.1753, other daily resistance at 1.1556, daily support at 1.1459, the previous swing high at 1.1398 (support) and the 10-day moving average at 1.1387 (support).
 
The head of the Federal Reserve Bank (FRB) Minneapolis Neil Kashkari convinced that the Federal Reserve (Fed) wants the normalization of interest rates in the United States, but will not actively raise them.
According to him, the Fed will change the rate when such a move is justified by macroeconomic indicators.
 
On Thursday, the dollar rose against other major currencies, as mostly positive US data released on Wednesday, reinforced optimism about the strength of the economy, while investors are preparing for a long-awaited data on employment, which will be released on Friday. The EUR / USD fell by 0.47% to 1.1428.
 
EUR/USD is trading sharply lower today after reaching multi-month high of 1.1620. The pair is currently trading at 1.1423 and by the way it looks, it might test 1.14 before we get the news tomorrow. Reminder: NFP and Unmployment Rate are scheduled for tomorrow.
 
The shooting star candlestick on the daily time-frame yesterday had the expected consequences and the pair fell, it's currently testing 1.1400 and a breakout below that level will likely lead to a further drop to 1.1200.
 
The dollar rose against a basket of major currencies for a third day on Thursday as traders closed the advantageous position in anticipation of the publication of Friday's employment report, which could confirm the view that the Fed will not raise rates soon.
 
Next on focus is US labor market data that will be released tomorrow. EUR/USD is testing the support located at 1.43. If the pair overcome it, will move downwards to 1.14, heading to 1.1370.
 
Dollar weakness is still the main factor drive the pair, despite weak data from US, the pair drop back to previous resistance level around 1.1400 level, if Eur/Usd break down 1.14 handle it will probably open the door to further downside towards 1.1350 zone.
 
On Thursday session the euro marked a decline against the US dollar. The session started at 1.1485 and the price managed to break through the first support at 1.1450. The pair lost 81 pips to a closing price of 1.1404. If the euro keep its downward movement, we may expect an attempt to break of the first support at 1.1286.
 
Yesterday EURUSD fell with a wide range and closed near the low of the day, in addition managed to close below the previous day low, suggesting a strong bearish momentum.

The pair closed below the 10-day moving average that should now act as a dynamic resistance although is still trading above the 50 and the 200-day moving averages that act as a dynamic support.

The key levels to watch are: Last swing high at 1.1616, a daily resistance at 1.1556, other daily resistance at 1.1459, the previous swing high at 1.1398 (support) and the 50-day moving average at 1.1298 (support).
 
The EUR/USD is trading sideways today at 1.1380-1.14-1.1420. The pair is on hold expecting the market stir as traders and investors are anticipating the latest NFP data and Unemployment Rate. Current market price 1.1420 is first support while major resistance is 1.1580.
 
The NFP data caused another whipsaw, which at this point is hardly surprising. The support at 1.1400 remains unbroken though, so the pair will likely start climbing towards 1.1470 - 1.1500 again.
 
Euro/dollar attempted to push higher yesterday, topped at 1.1616 but tumbled down then and closed lower at 1.1499. The bias is bearish for test of 1.1400. Immediate resistance is at 1.1550, whose breach could lead price to neutral zone with re-testing 1.1616
 
Eur/Usd is right back to where it started due to mixed US data, trading almost flat, leave the pair's direction undecided. Upside seems limited, on the downside immediate support level can be found at today's low at 1.1386.
 
The pair seems in the consolidation mood, trading flat. It probably will continue until midweek.
 
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