EUR/USD at the 1.3800 level.
- Thread starter fxstrategist
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honeill
Sergeant
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On the last Friday’s session the EURUSD rallied with a wide range and closed near the high of the day, in addition the currency pair managed to close above Thursday’s high, which suggests a strong bullish momentum.
The currency pair closed above the 10-day moving average that should provide a dynamic support but continues to trade below the 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.0900, other daily resistance at 1.0819, the 50-day moving average at 1.0643 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0563 (support) a daily support at 1.0527 and other daily support at 1.0462.
The currency pair closed above the 10-day moving average that should provide a dynamic support but continues to trade below the 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.0900, other daily resistance at 1.0819, the 50-day moving average at 1.0643 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0563 (support) a daily support at 1.0527 and other daily support at 1.0462.
victoriajensen
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EUR/USD will likely start moving to the downside again, especially if it breaks out below 1.0585, which is the (MA)89 indicator on the four-hour time-frame - it has formed several spinning top candlesticks on the same time-frame below the resistance at 1.0640.
EUR/USD was seen higher today, but was unable to hold above 1.0600. Currently the pair is testing lows around 1.0578. Meanwhile technical indicators are loosing strength. Immediate support is seen at 1.0525 area and in case of breaking below it, further downslide could be extented towards 1.0500.
EUR/USD bounced off the lows and now is seen hovering around 1.0600. It’s not sure whether the bulls will find enough strength to hold above this line. Since the beginning of February the pair is moving to downwards and in case of breaking below the key support at 1.0550, EUR/USD will be poised to decline further.
honeill
Sergeant
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On yesterday session, again the EURUSD initially tried to rally but found enough resistance at 1.0622 to give all of its gains back to the market and closed in the red, near the low of the day, in addition closed within Monday’s range, which suggests being slightly on the bearish side of neutral.
The currency pair is trading above the 10-day moving average that should act as a dynamic support but it continues to trade below the 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.0900, other daily resistance at 1.0819, the 50-day moving average at 1.0644 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0573 (support) a daily support at 1.0527 and other daily support at 1.0462.
The currency pair is trading above the 10-day moving average that should act as a dynamic support but it continues to trade below the 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.0900, other daily resistance at 1.0819, the 50-day moving average at 1.0644 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0573 (support) a daily support at 1.0527 and other daily support at 1.0462.
honeill
Sergeant
- Messages
- 1,126
On yesterday session, the EURUSD initially tried to rally but found yet again enough resistance near Tuesday open to give all of its gains back to the market and closed in the red, near the low of the day, in addition managed to closed below Tuesday’s low, which suggests a strong bearish momentum.
The currency pair closed below the 10-day moving average and is now trading below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.0900, other daily resistance at 1.0819, the 50-day moving average at 1.0645 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0571 (resistance) a daily support at 1.0527 and other daily support at 1.0462.
The currency pair closed below the 10-day moving average and is now trading below the 10, 50 and 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.0900, other daily resistance at 1.0819, the 50-day moving average at 1.0645 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0571 (resistance) a daily support at 1.0527 and other daily support at 1.0462.
On Tuesday, the single currency recorded a modest decline against the US dollar. The session started at 1.0579 and ended 14 pips lower. If the downward trend continues, most likely the dollar will test the first support located at 1.0550. Otherwise, on the upside, the pair will go toward resistance at 1.0815.
