EUR/USD was trading close to unchanged yesterday, within relatively narrow range. The pair marked a slight increase of 10 pips to a closing price of 1.1023 and the intraday extremes respectively at 1.1057 and 1.0979. The respetive bottom for second consecutive day acted as a support, although during the day Mario Draghi hinted for possible further monetary stimulus later this year.
Yesterday the EURUSD went back and forward without any clear direction but managed to close in the green, in the middle of the daily range, in addition closed within the previous day range, which suggests being clearly neutral, neither side is showing control.
The pair continues to trade below the 10, 50 and the 200-day moving averages that are acting as dynamic resistances.
The key levels to watch are: The 50-day moving average at 1.1170 (resistance), the 200-day moving average at 1.1120 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1054 (resistance) and daily support 1.0900.
The pair continues to trade below the 10, 50 and the 200-day moving averages that are acting as dynamic resistances.
The key levels to watch are: The 50-day moving average at 1.1170 (resistance), the 200-day moving average at 1.1120 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1054 (resistance) and daily support 1.0900.
fxstrategist
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Eurusd
The EURUSD breaks below the 1.1000 level and the bearish trend may continue towards the 1.0900 level.
The EURUSD breaks below the 1.1000 level and the bearish trend may continue towards the 1.0900 level.
arigoldman
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Looking ahead to what the week brings.
On Friday ECB published the results of the survey from professional forecasters.
Forecasts for 2016 GDP and CPI have not changed, so that the bank have no reason to sharply increase incentives in the near future. A decline of the EUR/USD could be caused only by the power of the dollar, expecting euro weakness in the current situation has no grounds.
Forecasts for 2016 GDP and CPI have not changed, so that the bank have no reason to sharply increase incentives in the near future. A decline of the EUR/USD could be caused only by the power of the dollar, expecting euro weakness in the current situation has no grounds.
The single currency recorded a decreased against the US dollar on Friday. The session started at 1.1023 and the pair lost 50 pips at a closing price of 1.0973. The price broke through the first support at 1.0980. In the short term outlook remains negative, the graph continues to develop under the moving averages.
On the last Friday’s session the EURUSD fell with a wide range and closed in the red, near the low of the day, in addition managed to close below Thursday’s low, suggesting a strong bearish momentum.
The pair continues to trade below the 10, 50 and the 200-day moving averages that are acting as dynamic resistances.
The key levels to watch are: The 50-day moving average at 1.1166 (resistance), the 200-day moving average at 1.1122 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1045 (resistance) and daily support 1.0900.
The pair continues to trade below the 10, 50 and the 200-day moving averages that are acting as dynamic resistances.
The key levels to watch are: The 50-day moving average at 1.1166 (resistance), the 200-day moving average at 1.1122 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1045 (resistance) and daily support 1.0900.
On Wednesday and Thursday EUR/USD tested the important level around 1.0980, trying to form a double bottom on the daily chart. A break below 1.0910 will confirm the end of the four-week period of consolidation and will pave the way for a test of support 1.0800- 1.0750 dollars.
On the other hand, if the pair goes back above key resistance 1.1050-80 dollar break through 1.1190, it will allow the pair to test 1.1420-30.
On the other hand, if the pair goes back above key resistance 1.1050-80 dollar break through 1.1190, it will allow the pair to test 1.1420-30.
victoriajensen
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EUR/USD bounced off 1.0950 again. Since range continues its next target is likely around 1.1060.
The sungle currency marked a slight increase the US Dollar on Monday. The pair added 21 pips at a closing price of 1.0993. After a volatile session, the price broke the first resistance at 1.0980. Next target appears to be the resistance at 1.1100.
Yesterday the EURUSD initially fell but found enough support at 1.0970 to reverse and closed near the high of the day, although closed within Fridays range, which suggests being slightly on the bullish side of neutral.
The pair continues to trade below the 10, 50 and the 200-day moving averages that are acting as dynamic resistances.
The key levels to watch are: The 50-day moving average at 1.1159 (resistance), the 200-day moving average at 1.1125 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1026 (resistance) and daily support 1.0900.
The pair continues to trade below the 10, 50 and the 200-day moving averages that are acting as dynamic resistances.
The key levels to watch are: The 50-day moving average at 1.1159 (resistance), the 200-day moving average at 1.1125 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1026 (resistance) and daily support 1.0900.
