The euro resumed its downward movement against the dollar on Monday. The single currency depreciated by 83 pips to a closing price of 1.1027. The daily limit values were reached respectively at 1.1123 and 1.1003. Technical outlook in the short term remains negative, but for further decline is needed breakthrough levels at 1.0960.
EUR/USD at the 1.3800 level.
- Thread starter fxstrategist
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honeill
Sergeant
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- 1,126
Yesterday the EURUSD plunged with a wide range and closed near the low of the day, in addition managed to close below the previous day low, suggesting strong bearish momentum.
The pair is trading below the 10-day moving average acting as dynamic resistance however is still trading above the 50 and the 200-day moving averages that are acting as dynamic support.
The key levels to watch are: The previous swing high at 1.1376, a daily resistance at 1.1237, the 10-day moving average at 1.1132 (resistance), a daily resistance at 1.1097, the 200-day moving average at 1.1025 (support) and 50-day moving average at 1.0982 (support).
The pair is trading below the 10-day moving average acting as dynamic resistance however is still trading above the 50 and the 200-day moving averages that are acting as dynamic support.
The key levels to watch are: The previous swing high at 1.1376, a daily resistance at 1.1237, the 10-day moving average at 1.1132 (resistance), a daily resistance at 1.1097, the 200-day moving average at 1.1025 (support) and 50-day moving average at 1.0982 (support).
victoriajensen
Private, 1st Class
- Messages
- 1,117
The pair is still testing the support at 1.1000 indeed. I do think it will break below that level soon though, and continue towards 1.0900, perhaps even 1.0800.
abdul2012
Corporal
- Messages
- 424
The resistance at 1.0990 tested today as i was expecting yesterday but the EUR/USD couldn't break below so it is good opportunity to go short.
sherif fares
Corporal
- Messages
- 451
EUR/USd attempted to test the support level and failed to break under, still waiting for a rebound sign or a break of the support.
fxstrategist
Corporal
- Messages
- 742
The EURUSD is still at the 1.1000 zone, it may probably bounce to the upside from there, but a breakdown could take the price to the 1.0900 level.
The single currency lost ground against the dollar for a second day after trading in a relatively narrow range. The daily limit values were reached respectively at 1.1052 and 1.0989, as the euro depreciated by 9 pips to a closing price of 1.1018. Thus, the pair marked a decline of 2.8% over the last eight sessions. Technical outlook remains negative, downward crossing of the moving averages will contribute to the bearish sentiment. Main target downwards remain 1.0960.
honeill
Sergeant
- Messages
- 1,126
Yesterday the EURUSD went back and forward with a narrow range and closed in the middle of the daily range, however managed to close within the previous day range, suggesting lack of momentum.
The pair is trading below the 10 and the 200-day moving averages that are acting as dynamic resistances however is still trading above the 50-day moving average that are acting as dynamic support.
The key levels to watch are: The previous swing high at 1.1376, a daily resistance at 1.1237, the 10-day moving average at 1.1106 (resistance), a daily resistance at 1.1097, the 200-day moving average at 1.1024 (resistance), 50-day moving average at 1.0982 (support) and a daily support at 1.0900.
The pair is trading below the 10 and the 200-day moving averages that are acting as dynamic resistances however is still trading above the 50-day moving average that are acting as dynamic support.
The key levels to watch are: The previous swing high at 1.1376, a daily resistance at 1.1237, the 10-day moving average at 1.1106 (resistance), a daily resistance at 1.1097, the 200-day moving average at 1.1024 (resistance), 50-day moving average at 1.0982 (support) and a daily support at 1.0900.
sherif fares
Corporal
- Messages
- 451
A second day the EUR/USD is trading around open price which proves that the support level remains and the market is uncertain, EUR/USD failed to break under the support levels and rebounded to sustain over 1.1000, most probably we will see a rebound from this levels second option if price succeeded to stay under support line will be a good opportunity for going short.
