EUR/USD was indecisive yesterday. Commercial bias remains bullish in nearest term for testing 1.1470. Support for the day remains 1.1285. A clear break and daily close below this level could become a threat to the bullish scenario re-testing the lower line of the bullish channel, but I still prefer a bullish scenario at this stage.
EUR/USD at the 1.3800 level.
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victoriajensen
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I have no intention of opening new longs before the pair breaks above the previous high at 1.1392. Not to mention that there is a doji candlestick on the daily time-frame and we might as well see it start moving to the downside again.
fxstrategist
Corporal
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The EURUSD stays undecided without a clear direction, just below the 1.1400 level.
Yesterday EUR/USD was trading in a narrow range for a second day in a row and the single currency remained almost unchanged at a level of 1.1355. The daily high was reached at 1.1379and the low at 1.1338. The current consolidation might test the psychological level at 1.1400.
honeill
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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.
Looks like EURUSD is in compression mode due to the narrow ranges that is making since Monday and to the inside day that it made yesterday. So get ready for an expansion day in the few days to come.
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 1.1301 (support) and a daily support at 1.1237.
Looks like EURUSD is in compression mode due to the narrow ranges that is making since Monday and to the inside day that it made yesterday. So get ready for an expansion day in the few days to come.
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 1.1301 (support) and a daily support at 1.1237.
Euro/dollar had another indecisive movement yesterday. Short-term expectations remain bullish for testing 1.1470. Immediate support is seen at 1.1285, as break and daily close below it could become a threat to the bullish scenario re-testing the lower line of the bullish channel, but still it is preferable scenario up at this stage.
The dollar hit a new four-week low against a basket of major currencies on Wednesday. The dollar index, which tracks the US currency against a basket of six major rivals, fell 0.05 percent to 93.779 after falling up to 93.695 - the lowest level since May 11. Euro rose by 0.06 percent to $ 1.1363.
