EUR/USD at the 1.3800 level.
- Thread starter fxstrategist
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honeill
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On the last Friday’s session, the EURUSD fell with a narrow range and closed near the low of the day, however managed to close within Thursday’s range, which suggests a being slightly on the bearish side of neutral.
The currency pair is trading below the 10-day moving average that should provide dynamic resistance however is trading above the 50 and 200-day moving averages that should provide dynamic support.
The key levels to watch: a daily resistance at 1.2572, daily resistance at 1.2432, the 10-day moving average at 1.2358 (resistance), a daily support at 1.2287, the 50-day moving average at 1.2262 (support), a daily support at 1.2200 and other daily support at 1.2115.
The currency pair is trading below the 10-day moving average that should provide dynamic resistance however is trading above the 50 and 200-day moving averages that should provide dynamic support.
The key levels to watch: a daily resistance at 1.2572, daily resistance at 1.2432, the 10-day moving average at 1.2358 (resistance), a daily support at 1.2287, the 50-day moving average at 1.2262 (support), a daily support at 1.2200 and other daily support at 1.2115.
The euro recorded a slight decline against the dollar on Friday. The decrease was low and so the pair remained at the level of the last two days. If the bearish moods prevail, support at 1.2231 will be pierced. The session started at a rate of 1.2329 and the single currency lost 35 pips to the final. The bottom of the day was hit at 1.2279.
honeill
Sergeant
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- 1,126
On yesterday session, the EURUSD initially rallied but found enough resistance at the 10-day moving average to trim half of its gains and closed in the middle of the daily range, in addition managed to close within Friday’s range, which suggests being clearly neutral, neither side is showing control.
The currency pair is trading below the 10-day moving average that should provide dynamic resistance however is trading above the 50 and 200-day moving averages that should provide dynamic support.
The key levels to watch: a daily resistance at 1.2572, daily resistance at 1.2432, the 10-day moving average at 1.2339 (resistance), a daily support at 1.2287, the 50-day moving average at 1.2268 (support), a daily support at 1.2200 and other daily support at 1.2115.
The currency pair is trading below the 10-day moving average that should provide dynamic resistance however is trading above the 50 and 200-day moving averages that should provide dynamic support.
The key levels to watch: a daily resistance at 1.2572, daily resistance at 1.2432, the 10-day moving average at 1.2339 (resistance), a daily support at 1.2287, the 50-day moving average at 1.2268 (support), a daily support at 1.2200 and other daily support at 1.2115.
The euro/dollar did not make a substantial move yesterday. The signals are neutral for now. The price moved in a range of 100 pips between 1.2260 - 1.2360. It is needed a convincing breakthrough of this range to see a clearer direction. A clear break above 1.2360 may trigger upward testing for 1.2400 - 1.2435. On the other hand, a clear break and a daily closing below 1.2260 will clear the way to 1.2175 and trendline support. The main bullish signals remain valid, but as long as the price remains below the key resistance of 1.2537, we are still in the downward consolidation phase.
honeill
Sergeant
- Messages
- 1,126
On yesterday session, the EURUSD fell with a wide range and closed near the low of the day, in addition managed to close below Mondays’ low, which suggests a strong bearish momentum.
The currency pair closed below the 50-day moving average and is trading below the 10-day moving average both should provide dynamic resistance however is trading above the 200-day moving average that should provide dynamic support.
The key levels to watch: a daily resistance at 1.2432, the 10-day moving average at 1.2339 (resistance), a daily resistance at 1.2287, the 50-day moving average at 1.2268 (resistance), a daily support at 1.2200 and other daily support at 1.2115.
The currency pair closed below the 50-day moving average and is trading below the 10-day moving average both should provide dynamic resistance however is trading above the 200-day moving average that should provide dynamic support.
The key levels to watch: a daily resistance at 1.2432, the 10-day moving average at 1.2339 (resistance), a daily resistance at 1.2287, the 50-day moving average at 1.2268 (resistance), a daily support at 1.2200 and other daily support at 1.2115.
EUR/USD shows hesistation at the support area 1.2205 – 1.2170. The post-Powell sentiment prevail and if bears found no reason to feel comfortable in this zone, may try to move to the south by testing the January’s low at 1.2164 which if broken will provide next target at 1.2100.
The euro recorded a second consecutive loss against the dollar on Wednesday. The European currency continued the negative trend, but the break-up of support at 1.2165 was postponed. If the bearish sentiment is preserved, it will be overcome soon. The session started at 1.2232 and the final was 39 pips down. The bottom of the day was hit at 1.2187.
