Euro/dollar rose higher yesterday, topped at 1.1262 and now struggling around the important 1.1250 level. The bias is bullish especially if price is able to make a clear break above 1.1250, re-testing 1.1350. Intraday support is 1.1200. A clear break below that area could lead price to neutral zone for testing support 1.1150/25 and will hold the phase of bears intacted.
EUR/USD at the 1.3800 level.
- Thread starter fxstrategist
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victoriajensen
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EUR/USD has been testing the resistance at 1.1250 for the past day or so, a breakout above that level will likely lead to a further move to the upside towards 1.1300 - 1.1340.
The single currency recorded a modest decline against the US dollar on Wednesday. After a volatile session, the euro has lost only 16 pips to a closing price of 1.1238. In the short terms the outlook remains neutral as the most likely scenario is a resumption of the uptrend and test the first resistance at 1.1100.
honeill
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Yesterday the EURUSD went back and forward without any clear direction but closed in the red, in the middle of the daily range, in addition managed to close within the previous day range, which suggests being clearly neutral, neither side is showing control.
The pair is trading well above the 10, 50 and the 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: a daily resistance at 1.1460, a 61.8% Fibonacci retracement at 1.1347 (resistance), a daily support at 1.1237, the 10-day moving average at 1.1181 (support), and a daily support at 1.1097.
The pair is trading well above the 10, 50 and the 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: a daily resistance at 1.1460, a 61.8% Fibonacci retracement at 1.1347 (resistance), a daily support at 1.1237, the 10-day moving average at 1.1181 (support), and a daily support at 1.1097.
victoriajensen
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EUR/USD just broke above 1.1300, Mario Draghi's press-conference later today will likely push it further up.
honeill
Sergeant
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Yesterday the EURUSD initially rallied but found enough selling pressure to give back to the market most of its gains but closed in the green, near the low of the day, in addition managed to close within the previous day range, which suggests being slightly on the bearish side of neutral.
The pair is trading well above the 10, 50 and the 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: a daily resistance at 1.1460, a 61.8% Fibonacci retracement at 1.1347 (resistance), a daily support at 1.1237, the 10-day moving average at 1.1189 (support), and a daily support at 1.1097.
The pair is trading well above the 10, 50 and the 200-day moving averages that are acting as dynamic supports.
The key levels to watch are: a daily resistance at 1.1460, a 61.8% Fibonacci retracement at 1.1347 (resistance), a daily support at 1.1237, the 10-day moving average at 1.1189 (support), and a daily support at 1.1097.
The single currency marked and increase against the US dollar on Thursday. The session started at 1.1238 and closed 21 pips higher. The chart continue to develop above the moving averages, while RSI remained at neutral territory. In case the pair keep the upward direction, most likely the will manage to break the first resistance located at 1.1286.
The euro rose against the dollar on Friday. By the end of the Asian session, EUR/USD was trading at 1.1281, gaining 0.20%. I believe that the support is now located at the level of 1.1137, Tuesday's low, and resistance is ta the level of 1.1329 - maximum of Thursday.
victoriajensen
Private, 1st Class
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- 1,117
EUR/USD is back to its old levels around 1.1250 and considering that there are no major news coming out today consolidation will likely continue.
