The euro marked strong increase against the US dollar on Tuesday session. The EUR/USD pair reached intraday high at 1.0718 and the euro gained 115 pips. The resistance at 1.0682 was broken and the pair closed above this level. If the positive momentum continues, the next key level at 1.0742 will be tested soon.
EUR/USD at the 1.3800 level.
- Thread starter fxstrategist
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honeill
Sergeant
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On yesterday session, the EURUSD rallied with a wide range and closed near the high of the day, in addition managed to close above previous day high, which suggests a strong bullish momentum.
The currency pair is trading above the 10 and 50-day moving averages should act as a dynamic supports but remains trading below the 200-day moving average that also should act as dynamic resistance.
The key levels to watch are: a daily resistance at 1.0819, a key level at 1.0666 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0597 (support), the 50-day moving average at 1.0557 (support) and a daily support at 1.0462.
The currency pair is trading above the 10 and 50-day moving averages should act as a dynamic supports but remains trading below the 200-day moving average that also should act as dynamic resistance.
The key levels to watch are: a daily resistance at 1.0819, a key level at 1.0666 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0597 (support), the 50-day moving average at 1.0557 (support) and a daily support at 1.0462.
fxstrategist
Corporal
- Messages
- 742
The EURUSD retraces to its 55 day EMA from where it may bounce to the upside, maybe visiting the 1.0700 level again.
The single currency marked decrease against the US dollar on Wednesday session and the EUR/USD pair closed lower at 1.0680. The upcoming ECB’s monetary policy meeting today is going to set the pair under pressure. Technically the pair remains bullish, but a surprisingly dovish tone by Draghi can push the pair to downside.
Euro/dollar collapsed yesterday after the Fed chairman said the US economy is performing well and FED may gradually rise interest rates. The bias is bearish for now to test 1.0600. However, that price is still moving in the upward price channel, suggesting that the bullish phase after the bounce from 1.0350 is valid. First resistance is 1.0690, whose breach could resume bullish momentum testing 1.0800. Intraday support remains 1.0550. A clear break below could lead price to neutral zone testing 1.0500.
honeill
Sergeant
- Messages
- 1,126
On yesterday session, the EURUSD fell with a narrow range and closed near the low of the day, although managed to close within previous day range, which suggests being slightly on the bearish side of neutral.
The currency pair is trading above the 10 and 50-day moving averages should act as a dynamic supports but remains trading below the 200-day moving average that also should act as dynamic resistance.
The key levels to watch are: a daily resistance at 1.0819, a daily support at 1.0622, the 10-day moving average at 1.0607 (support), the 50-day moving average at 1.0558 (support) and a daily support at 1.0462.
The currency pair is trading above the 10 and 50-day moving averages should act as a dynamic supports but remains trading below the 200-day moving average that also should act as dynamic resistance.
The key levels to watch are: a daily resistance at 1.0819, a daily support at 1.0622, the 10-day moving average at 1.0607 (support), the 50-day moving average at 1.0558 (support) and a daily support at 1.0462.
fxstrategist
Corporal
- Messages
- 742
The EURUSD suffered a big drop during Draghi's speech, but it goes back up from the 1.0600 level, now the 1.0700 level may act as resistance.
honeill
Sergeant
- Messages
- 1,126
On yesterday session, the EURUSD initially fell but found enough support near the 10-day moving average to trim all its losses and managed to close near the high of the day, although closed within previous day range, which suggests being slightly on the bullish side of neutral.
The currency pair is trading above the 10 and 50-day moving averages should act as a dynamic supports but remains trading below the 200-day moving average that also should act as dynamic resistance.
The key levels to watch are: a daily resistance at 1.0819, a daily support at 1.0622, the 10-day moving average at 1.0620 (support), the 50-day moving average at 1.0560 (support) and a daily support at 1.0462.
The currency pair is trading above the 10 and 50-day moving averages should act as a dynamic supports but remains trading below the 200-day moving average that also should act as dynamic resistance.
The key levels to watch are: a daily resistance at 1.0819, a daily support at 1.0622, the 10-day moving average at 1.0620 (support), the 50-day moving average at 1.0560 (support) and a daily support at 1.0462.
