fxstrategist
Corporal
- Messages
- 742
The EURUSD retraces back to the 1.0970 zone, but it may go back down and visit the 1.0900 level.
EUR/USD at the 1.3800 level.
- Thread starter fxstrategist
- Start date
The single currency recorded a growth of third day against the dollar on Friday, but failed to make progress for the week. The euro rose by 35 pips to a closing price of 1.0958. The daily final readings were reached respectively at 1.0977 and 1.0855. The price went above the average values, while the index of relative strength develops in positive territory, alluding to the preponderance of bulls in the short term. Key levels for determinining the long-term attitudes remain 1.1130 and 1.0810.
sherif fares
Corporal
- Messages
- 451
on the Long term the EUR/USD still bearish due to the weakness of the Euro, but now the price is trading around a key point 1.1000 a break above it might be a chance for a position with target 1.1090
victoriajensen
Private, 1st Class
- Messages
- 1,117
The EUR/USD range continues for now. The pair broke above the resistance at 1.0970 and will probably reach 1.1080 next.
The single currency continued the winning performance from last week and yesterday rose nearly 60 pips against the dollar to a closing price of 1.1018. Movement scored a peak at 1.1040, while the lowest point was reached at 1.0925. EUR / USD failed to confirm the break of 1.1020, but the price remains above the average values and the indicator of the relative strength hints dominance of the bulls.
sherif fares
Corporal
- Messages
- 451
Reached target 1.1090 now I wait for the upswing to be exhausted so I can go short.
victoriajensen
Private, 1st Class
- Messages
- 1,117
Not only did EUR/USD bounce off the resistance at 1.1090 but it also formed a great shooting star candlestick on the 4-hour filter chart right under the resistance, so I think we can expect another move to the downside.
