victoriajensen
Private, 1st Class
- Messages
- 1,117
EUR/USD is stuck in a sideways consolidation for now. There likely won't be any further development before the beginning of next week after the Easter holiday.
EUR/USD at the 1.3800 level.
- Thread starter fxstrategist
- Start date
EUR/USD showed some vital signs after the release of gloomy macro data from the United States and moved higher to test 1.0630 level. Following the inicial excitement the pair is now calm and currently is trading at 1.0625. Key resistance ramains 1.0630, while fisrt support is seen at 1.0570.
honeill
Sergeant
- Messages
- 1,126
On the last Friday’s session the EURUSD went back and forward with a narrow range and without any clear direction but closed near the low of the day, in addition the currency pair managed to close within Thursday’s range, which suggests a being slightly on the bearish side of neutral.
The currency pair closed again below the 10 and the 50-day moving averages that should provide dynamic resistance and is also trading below the 200-day moving average that should act as dynamic resistance.
The key levels to watch are: a Fibonacci level at 1.07132 (resistance), the 50-day moving average at 1.0653 (resistance), the 10-day moving average at 1.0625 (resistance), a daily resistance at 1.0622, and a Fibonacci retracement at 1.0584 (support).
The currency pair closed again below the 10 and the 50-day moving averages that should provide dynamic resistance and is also trading below the 200-day moving average that should act as dynamic resistance.
The key levels to watch are: a Fibonacci level at 1.07132 (resistance), the 50-day moving average at 1.0653 (resistance), the 10-day moving average at 1.0625 (resistance), a daily resistance at 1.0622, and a Fibonacci retracement at 1.0584 (support).
victoriajensen
Private, 1st Class
- Messages
- 1,117
EUR/USD finally started moving to the upside after the tight sideways consolidation on Friday. A breakout above the resistance at 1.0655, which coincides with the (MA)89 indicator on the four-hour time-frame will likely lead to another rally to 1.0690, which is the same indicator, but on the daily time-frame.
Candlesticks 2
Review of Euro Dollar / US Dollar (EURUSD)
as of 17/04/17
A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are "low," it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 19 white candles and 30 black candles for a net of 11 black candles.
Separating lines occurred. If the lines occur during an uptrend and the first line is black and the second is white (which is the case with Euro Dollar / US Dollar) then this suggests that the uptrend should continue.
If the separating lines occur during a downtrend (which appears to be the case with Euro Dollar / US Dollar) and the first line is white and the second is black (which is not the case with Euro Dollar / US Dollar) then this suggests that the downtrend should continue.
This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. Equis accepts no liability whatsoever for any loss arising from any use of this expert or its contents.
Review of Euro Dollar / US Dollar (EURUSD)
as of 17/04/17
A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are "low," it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 19 white candles and 30 black candles for a net of 11 black candles.
Separating lines occurred. If the lines occur during an uptrend and the first line is black and the second is white (which is the case with Euro Dollar / US Dollar) then this suggests that the uptrend should continue.
If the separating lines occur during a downtrend (which appears to be the case with Euro Dollar / US Dollar) and the first line is white and the second is black (which is not the case with Euro Dollar / US Dollar) then this suggests that the downtrend should continue.
This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. Equis accepts no liability whatsoever for any loss arising from any use of this expert or its contents.
honeill
Sergeant
- Messages
- 1,126
On yesterday 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 Friday’s high, which suggests a strong bullish momentum.
The currency pair closed above the 10 day moving average that should provide dynamic support but is trading below the 50 and 200-day moving averages that should act as dynamic resistance.
The key levels to watch are: a Fibonacci level at 1.07132 (resistance), the 50-day moving average at 1.0654 (resistance), a daily support at 1.0622, the 10-day moving average at 1.0616 (support) and a Fibonacci retracement at 1.0584 (support).
The currency pair closed above the 10 day moving average that should provide dynamic support but is trading below the 50 and 200-day moving averages that should act as dynamic resistance.
The key levels to watch are: a Fibonacci level at 1.07132 (resistance), the 50-day moving average at 1.0654 (resistance), a daily support at 1.0622, the 10-day moving average at 1.0616 (support) and a Fibonacci retracement at 1.0584 (support).
victoriajensen
Private, 1st Class
- Messages
- 1,117
EUR/USD has almost reached the resistance at 1.0690 after the fundamentals pushed the pair to the upside today. The question is whether it will succeed in breaking out above that level, because if it does there could be a further rally towards 1.0800 - 1.0850.
The re-opening after Ester Holidays brought sharp rally for the EUR/USD, mostly fueled by the UK PM Theresa May announcment for general elections. The pair is currently trading at 1.0730 with technical indicators confirming the bullish trend. Strong resistance is seen at 1.0740 and in case of conquering it, next bulls’ target is seen at 1.0780.
honeill
Sergeant
- Messages
- 1,126
On yesterday session, the EURUSD rallied again with a wide range and closed near the high of the day, in addition the currency pair managed to close above Monday’s high, which suggests a strong bullish momentum.
The currency pair is trading above the 10 and the 50-day moving averages that should provide dynamic support although is still trading below the 200-day moving average that should act as dynamic resistance.
The key levels to watch are: the 200-day moving average at 1.0789 (resistance), a Fibonacci level at 1.07132 (support), the 50-day moving average at 1.0656 (support), the 10-day moving average at 1.0625 (support) and a daily support at 1.0622.
The currency pair is trading above the 10 and the 50-day moving averages that should provide dynamic support although is still trading below the 200-day moving average that should act as dynamic resistance.
The key levels to watch are: the 200-day moving average at 1.0789 (resistance), a Fibonacci level at 1.07132 (support), the 50-day moving average at 1.0656 (support), the 10-day moving average at 1.0625 (support) and a daily support at 1.0622.
