EUR/USD at the 1.3800 level.
- Thread starter fxstrategist
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honeill
Sergeant
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- 1,126
On yesterday session, the EURUSD went back and forward without any clear direction but closed in the green, in the middle of the daily range, however the currency pair managed to close within Monday’s range, which suggests being clearly neutral, neither side is showing control.
The currency pair is trading below the 10 and 50-day moving averages that should provide dynamic resistance however is trading above the 200-day moving average that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.1753, the 10-day moving average at 1.1688 (resistance), a key level at 1.1684 (resistance), the 1st head and shoulders target at 1.1593 (support), a daily support at 1.1558 and other daily support at 1.1460.
The currency pair is trading below the 10 and 50-day moving averages that should provide dynamic resistance however is trading above the 200-day moving average that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.1753, the 10-day moving average at 1.1688 (resistance), a key level at 1.1684 (resistance), the 1st head and shoulders target at 1.1593 (support), a daily support at 1.1558 and other daily support at 1.1460.
victoriajensen
Private, 1st Class
- Messages
- 1,117
EUR/USD is consolidating above 1.1575 and it may soon test that level once again. A proper breakout probably won't occur before the fundamentals tomorrow and on Friday.
honeill
Sergeant
- Messages
- 1,126
On yesterday session, the EURUSD fell with a wide range after Fed interest rate decision and closed near the low of the day, in addition the currency pair managed to close below Tuesday’s low, which suggests a strong bearish momentum.
The currency pair is trading below the 10 and 50-day moving averages that should provide dynamic resistance however is trading above the 200-day moving average that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.1753, a key level at 1.1684 (resistance), the 10-day moving average at 1.1673 (resistance), the 1st head and shoulders target at 1.1593 (support), a daily support at 1.1558 and other daily support at 1.1460.
The currency pair is trading below the 10 and 50-day moving averages that should provide dynamic resistance however is trading above the 200-day moving average that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.1753, a key level at 1.1684 (resistance), the 10-day moving average at 1.1673 (resistance), the 1st head and shoulders target at 1.1593 (support), a daily support at 1.1558 and other daily support at 1.1460.
honeill
Sergeant
- Messages
- 1,126
On yesterday session, the EURUSD initially rallied with a wide range but found enough resistance near the 10-day moving average to trim some of its gains and closed in the middle of the daily range, in addition the currency pair managed to close within Wednesday’s range, which suggests being clearly neutral, neither side is showing control.
The currency pair is trading below the 10 and 50-day moving averages that should provide dynamic resistance however is trading above the 200-day moving average that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.1753, a key level at 1.1684 (resistance), the 10-day moving average at 1.1665 (resistance), the 1st head and shoulders target at 1.1593 (support), a daily support at 1.1558 and other daily support at 1.1460.
The currency pair is trading below the 10 and 50-day moving averages that should provide dynamic resistance however is trading above the 200-day moving average that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.1753, a key level at 1.1684 (resistance), the 10-day moving average at 1.1665 (resistance), the 1st head and shoulders target at 1.1593 (support), a daily support at 1.1558 and other daily support at 1.1460.
victoriajensen
Private, 1st Class
- Messages
- 1,117
Although the fundamentals caused a large move to the downside today EUR/USD continues consolidating sideways because there was no breakout below the support at 1.1575 and such a breakout likely won't occur before next week.
The euro / dollar had a moderate ascending momentum yesterday, forming a peak at 1.1687. The views are bullish for testing at 1.1725 / 50. But the longer the price stays below 1.1900, the downward reversal scenario of the head and shoulders remains intact and any upward pressure should be seen as a good sales opportunity. Immediate support is 1.1625. A clear breakthrough below this level may take the price to a neutral zone with testing at the 1.1575 level. A clear breakthrough and daily / weekly closure below will open the doors in front of the bear to 1.1450.
