fxstrategist
Corporal
- Messages
- 742
The EURUSD stays in between the 1.110 level and the 1.1200 level, possible resistance at the 1.1400 level.
EUR/USD at the 1.3800 level.
- Thread starter fxstrategist
- Start date
The euro recorded insignificant decline against the dollar on Tuesday. The session was calm, with no sharp changes. Session started at the level of 1.1152 and closed with only 10 pips below. The difference between the highest and lowest value for the day was also small - 67 pips. If the single currency justify positive expectations in the short term resistance at 1.1387 will be broken soon.
honeill
Sergeant
- Messages
- 1,126
Yesterday the EURUSD fell with a narrow range and closed near the low of the day, however managed to close within the previous day range, suggesting a weak bearish momentum.
The pair is trading below the 10-day moving average 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 daily resistances at at 1.1460, other daily resistance at 1.1237, the 10-day moving average at 1.1217 (resistance), a daily support at 1.1097, and the 200-day moving average at 1.1025 (support).
The pair is trading below the 10-day moving average 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 daily resistances at at 1.1460, other daily resistance at 1.1237, the 10-day moving average at 1.1217 (resistance), a daily support at 1.1097, and the 200-day moving average at 1.1025 (support).
victoriajensen
Private, 1st Class
- Messages
- 1,117
There's a doji candlestick on the four-hour time frame above above the support at 1.1140, I think the pair will bounce off that level and continue rising. That said, it's doubtful that will happen before the FOMC meeting minutes.
Last edited:
sherif fares
Corporal
- Messages
- 451
there was not much movement on the EUR/USD today, the pair is still trying to test 1.1100 levels.
fxstrategist
Corporal
- Messages
- 742
no clear direction on the EURUSD daily chart. 1.12 could still be resistance, 1.11 could be support.
The single currency depreciated against its US rival on Wednesday after minutes of the Federal Reserve in January gave little indication of whether the US central bank will accelerate the pace of tightening interest rates in the near future.
The minutes of the meeting showed that instability in global financial markets and sluggish inflation expectations have led the US central bank to leave unchanged the way to increase the interest rate.
The minutes of the meeting showed that instability in global financial markets and sluggish inflation expectations have led the US central bank to leave unchanged the way to increase the interest rate.
honeill
Sergeant
- Messages
- 1,126
Yesterday the EURUSD went back and forward with a wide range and closed in the middle of the daily range, in addition closed within the previous day range, suggesting lack of 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 daily resistances at 1.1460, other daily resistance at 1.1237, the 10-day moving average at 1.1213 (resistance), a daily support at 1.1097, and the 200-day moving average at 1.1026 (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 daily resistances at 1.1460, other daily resistance at 1.1237, the 10-day moving average at 1.1213 (resistance), a daily support at 1.1097, and the 200-day moving average at 1.1026 (support).
The euro recorded a consecutive neutral session against the dollar on Wednesday. The pair remained on the known levels reached earlier in the week. Short-term indicators are in favor of the single currency and if they are come true, the resistance at 1.1235 will be broken. Trading started at a price of 1.1142 as at the beginning bulls prevailed but finally the session closed with 16 pips lower.
