EUR/USD at the 1.3800 level.
- Thread starter fxstrategist
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victoriajensen
Private, 1st Class
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Today was a very slow day for EUR/USD but I think that the pair is bouncing off the support at 1.1100 and we can expect another move to the upside soon.
The euro recorded a minimal increase against the dollar on Monday. The pair started the daily session at 1.1162 and ended with a gain of only 6 pips. Trading on Friday was held within 1.1121 and 1.1177. The index of relative strength remains into neutral territory. Test of resistance at 1.1180 is possible while the Bulls dominate.
honeill
Sergeant
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Yesterday the EURUSD initially fell but found enough buying pressure to turn back around and close in the green near the high of the day. The currency made a 2nd straight narrow range day suggesting that a break above or below of this inside day will be explosive. Levels to watch today: 1.1237 (Resistance) and 1.1097 (Support) and a break above the resistance or a break down below support would set the tone for the mid-tem.
sherif fares
Corporal
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- 451
EUR/USD is still around support line 1.11560 which is a strong point for the price breaking this point will push the price further down. But still EUR/USD is moving in a narrow range.
victoriajensen
Private, 1st Class
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EUR/USD is currently moving to the upside again but it is also forming a flag, so it's possible it will drop again when it reaches the resistance at 1.1240.
The single currency recorded an increase against the dollar on Tuesday after the volatile session during the day. The pair started the session at 1.1168, and in the early hours of the day recorded the highest level at 1.1228. Trading ended at a price of 1.1201 and probably the upward trend will continue due to the breakthrough at 1.1180. The index of relative strength also supports the bulls in the short term.
honeill
Sergeant
- Messages
- 1,126
Yesterday the EURUSD pair rose on a wide range day and closed in the green near the high of the day, shy above the 10-day moving average. This close above the 10-day moving average and the fact that we might get a golden cross (the 50 DMA crosses above the 200 DMA) today suggests that the bears are losing control of the currency. The key levels to watch today are the same of yesterday 1.1237 (Resistance) and 1.1097 (Support) and a break above the resistance or a break down below support would set the tone for the mid-tem.
