The single currency marked a volatile session against the dollar on Tuesday. Finally session ended in favor of the euro. If bullish sentiment intensify, the resistance at 1.0917 will be soon overcome. Tuesday session started at a price of 1.0848 and closed 21 pips higher. Tip of the day was reached at 1.0873, and the bottom was hit 55 pips below.
EUR/USD at the 1.3800 level.
- Thread starter fxstrategist
- Start date
victoriajensen
Private, 1st Class
- Messages
- 1,117
EUR/USD once again bounced off the resistance at 1.0900 and is currently moving to the downside. Its immediate target is around 1.0850.
Last edited:
sherif fares
Corporal
- Messages
- 451
EUR/USD tried to escape the 100 pip range and break above resistance level 1.0900 and rebounded again to remain inside the sideways range which is now for more than 2 weeks.
Euro recorded a third consecutive winning session against the dollar on Wednesday. The single currency justified the positive expectations and the couple made a test of resistance at 1.0917. The break of the key level has been delayed, but if bullish sentiment continue in the future, it will be overcome. Wednesday session started at a price of 1.0869 as trading was very volatile. Ultimately currencies reached a peak for the day at 1.0915 end session closed with 24 pips below.
honeill
Sergeant
- Messages
- 1,126
On yesterday session the EURUSD rallied with a wide range and closed well in the green, near the high of the day, in addition closed above previous day high, suggesting a strong bullish momentum.
The pair closed above the 10 and the 50-day moving averages that now are acting as a dynamic support.
The key levels to watch are: The previous swing high at 1.0975 (resistance), the 50-day moving average at 1.0870 (support), 10-day moving average at 1.0864 (support) and a swing low at 1.0778 (Support).
The pair closed above the 10 and the 50-day moving averages that now are acting as a dynamic support.
The key levels to watch are: The previous swing high at 1.0975 (resistance), the 50-day moving average at 1.0870 (support), 10-day moving average at 1.0864 (support) and a swing low at 1.0778 (Support).
victoriajensen
Private, 1st Class
- Messages
- 1,117
I agree, the pair will likely visit 1.1000 next, the question is whether it will finally be able to break above that level.
Intraday support is 1.0860, whose breach could lead price to neutral trading zone testing 1.0800 but important support remains at 1.0700. On the upside, a clear break above 1.0969 could trigger further bullish pressure testing 1.1060 and the trend line resistance. As long as price remains below the trendline, the bearish scenario remains valid.
