EUR/USD at the 1.3800 level.
- Thread starter fxstrategist
- Start date
On Friday the euro marked its strongest session against the dollar for nearly six months, after the data from the US labor market disappointed markets. The euro rose more than 200 pips to a closing price of 1.1355 and thereby reported first positive week for the last five. Dispelling expectations of raising interest rates by the Fed in June continues to support the single currency. Technically the bulls are favored and immediate support is located at 1.1330.
honeill
Sergeant
- Messages
- 1,126
On the last Friday’s session the non-farm payrolls made the EURUSD rally with a wide range and closed near the high of the day, in addition managed to close above the previous Thursdays high, suggesting a strong bullish momentum.
The pair is trading above the 200-day moving average and closed above the 10 and 50-day moving averages; all should now act as dynamic supports.
The key levels to watch are: A daily resistance at 1.1556, other daily resistance at 1.1460, the 50-day moving average at 1.1303 (support) and a daily support at 1.1237.
The pair is trading above the 200-day moving average and closed above the 10 and 50-day moving averages; all should now act as dynamic supports.
The key levels to watch are: A daily resistance at 1.1556, other daily resistance at 1.1460, the 50-day moving average at 1.1303 (support) and a daily support at 1.1237.
victoriajensen
Private, 1st Class
- Messages
- 1,117
EUR/USD is consolidating after the big move to the upside last Friday. The pair is testing the resistance at 1.1370 and it may be forming a double top there, but it's too early to tell.
fxstrategist
Corporal
- Messages
- 742
The EURUSD seems to have lost its bullish momentum, lets see if it breaks the 1.1400 or retraces to the downside.
Yesterday the euro remained unchanged against the dollar at a level of 1.1352. The pair failed to overcome the psychological resistance at 1.1400, while the euro found support at 1.1326. Technically the bulls will dominate. Support is located at 1.330 and resistance at 1.1465.
honeill
Sergeant
- Messages
- 1,126
Yesterday EURUSD went back and forward without any clear direction but still closed in the red, in the middle of the daily range, in addition managed to close within the previous day range, which suggests clearly neutral market, neither side is showing control.
The pair is trading above the 10, 50 and 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: A daily resistance at 1.1556, other daily resistance at 1.1460, the 50-day moving average at 1.1302 (support) and a daily support at 1.1237.
The pair is trading above the 10, 50 and 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: A daily resistance at 1.1556, other daily resistance at 1.1460, the 50-day moving average at 1.1302 (support) and a daily support at 1.1237.
The dollar slowed its decline after the statement of Janet Yellen. Fed chairman said that currently central bank policy is appropriate, but over time interest rates will rise. Yellen also said that it expects inflation to move towards the 2% target over the next few years. For NFP last week, Fed Chairman said that they were "disappointing".
