The euro continued to lose against the dollar for a third consecutive day on Thursday and is about to record a negative week. The single currency has lost nearly 70 pips to a closing price of 1.1244. The daily limit values were reached respectively at 1.1363 and 1.1202. The price overcame the 50-period moving average, while the relative strength index remains negative in territory. Breaking the 1.1180 level will support the bearish sentiment.
EUR/USD at the 1.3800 level.
- Thread starter fxstrategist
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honeill
Sergeant
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Yesterday the EURUSD fell for the 3rd consecutive day but with a narrow range (fading downward momentum) and closed in the red near the low of the day. The currency held on a daily support at 1.1237 where it can be at a good turning point but a close above the 10-day moving average may suggest the end of the current pullback and the start of another bullish move.
sherif fares
Corporal
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EUR/USD broke the psychological support 1.1200 and now heading for the next support line 1.1160. but I don't think there will be a break before the market close.
victoriajensen
Private, 1st Class
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I think we can expect it to fall much lower than that next week. It will likely reach 1.1070.
sherif fares
Corporal
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- 451
EUR/USD closed above the MA(20) but a further drop is expected next week let's see i am waiting for the price under the support line 1.1160.
honeill
Sergeant
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- 1,126
On Friday session the EURUSD pair fell for the fourth straight day and closed in the red near the low of the day on a narrow range. The currency made a stronger pullback and is trading within a daily support zone from 1.1237 down to 1.1097. A break above the 1.1237 will suggest another up run to 1.1555.
On Friday the euro recorded a fall against the dollar. The single currency depreciated for the fourth consecutive session and thus came close tothe support at 1.1105. In the short term it is expected price correction and the pair to recover some of the losses by testing the resistance at 1.1329. Trade on Friday launched at 1.1244 and finished 58 pips below. Bulls prevailed in the early hours of the session, but then later the direction was changed and currencies hit bottom for the day at 1.1155.
victoriajensen
Private, 1st Class
- Messages
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The EUR/USD consolidation continues and the pair is still testing the support at 1.1200. This might continue until the ECB rate decision on Thursday.
sherif fares
Corporal
- Messages
- 451
EUR/USD is moving in a tight range and I dont think we will see any sudden movement until the ECB press conference and the NFP.
abdul2012
Corporal
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- 424
I agree with you on that, Because it should be some high volatility after that.
