During Wednesday session the single currency extended losses. The EUR/USD pair traded in a narrow range, dropped to intraday low at 1.1179 and ticked daily high at 1.1229. Technically the euro recorded third consecutive weak session to a closing price of 1.1201. First support is seen at 1.1150, and resistance at 1.1220.
EUR/USD at the 1.3800 level.
- Thread starter fxstrategist
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honeill
Sergeant
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Yesterday EURUSD fell with a narrow range and closed in the middle of the daily range, however managed to close below the previous day low, suggesting bearish momentum.
The pair is trading below the 10 and the 50-day moving averages that are acting as dynamic resistances although still trading above the 200-day moving average that is acting as a dynamic support.
The key levels to watch are: The 50-day moving average at 1.1333 (resistance), the 10-day moving average at 1.1319 (resistance), a daily resistance at 1.1237, a swing low at 1.1141 (support) and a daily support at 1.1097.
The pair is trading below the 10 and the 50-day moving averages that are acting as dynamic resistances although still trading above the 200-day moving average that is acting as a dynamic support.
The key levels to watch are: The 50-day moving average at 1.1333 (resistance), the 10-day moving average at 1.1319 (resistance), a daily resistance at 1.1237, a swing low at 1.1141 (support) and a daily support at 1.1097.
On Friday, the dollar is trading at seven-week highs against other major currencies, as the expectations of the Fed raising interest rates next month, continues to provide significant support to the US currency, while today, investors are preparing for the publication of US data on home sales in the secondary market. The EUR/USD rose 0.17% to 1.1221, but remains near a seven-week Thursday's low 1.1180.
victoriajensen
Private, 1st Class
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Considering the doji candlestick on the four-hour time-frame EUR/USD will likely continue falling and break below 1.1200 again. If it does next target is probably 1.1150.
fxstrategist
Corporal
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The EURUSD was not able to break below its 200 day EMA, now the pair is retracing, possible bullish correction.
honeill
Sergeant
- Messages
- 1,126
On the last Friday’s session the EURUSD rose with a narrow range and closed near the high of the day, but closed within the previous day range, suggesting being slightly on the bullish side of neutral.
The pair is trading below the 10 and the 50-day moving averages that are acting as dynamic resistances although still trading above the 200-day moving average that is acting as a dynamic support.
The key levels to watch are: The 50-day moving average at 1.1333 (resistance), the 10-day moving average at 1.1304 (resistance), a daily resistance at 1.1237, a swing low at 1.1141 (support) and a daily support at 1.1097.
The pair is trading below the 10 and the 50-day moving averages that are acting as dynamic resistances although still trading above the 200-day moving average that is acting as a dynamic support.
The key levels to watch are: The 50-day moving average at 1.1333 (resistance), the 10-day moving average at 1.1304 (resistance), a daily resistance at 1.1237, a swing low at 1.1141 (support) and a daily support at 1.1097.
victoriajensen
Private, 1st Class
- Messages
- 1,117
Today was another slow day for EUR/USD, although for the moment the pair is still quite bearish. It's still testing the support at 1.1200 and I hope tomorrow there will be a bit more volatility.
I would say very likely, let's see the pair could break out it's current range from 1.1250 to 1.1170.
