victoriajensen
Private, 1st Class
- Messages
- 1,117
EUR/USD is very bearish and the pair is testing once again the support at 1.0370. If it breaks out below that level the move to the downside will likely continue.
EUR/USD at the 1.3800 level.
- Thread starter fxstrategist
- Start date
During the last three sessions the EUR/USD pair is marking lower lows and lower highs, which is encouraging the bears. Today the pair hit 14 years low at 1.0340 and slightly rebounced later, but yet remains vulnerable. Support is located at 1.0340 (today’s low) and 1.0300 (physiological level). Resistance is seen at 1.0450 (20-day EMA) and 1.0495 (100-day EMA).
fxstrategist
Corporal
- Messages
- 742
The EURUSD is holding for now around the 1.0400 level, but it may break it at any moment and maybe try to reach the 1.0300 level.
honeill
Sergeant
- Messages
- 1,126
On yesterday session, the EURUSD fell with a wide range but managed to trim some of its losses and closed in the middle of the daily range, in addition managed to close below previous day low, which suggests bearish momentum.
The currency pair closed below the 10-day moving average that should act as a dynamic resistance and continues to trade below the 50 and the 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a Fibonacci extension at 1.0666 (resistance), a daily resistance at 1.0622, a daily resistance at 1.0462, the 10-day moving average at 1.0452 (resistance) and a new multi-year low at 1.0340 (support).
The currency pair closed below the 10-day moving average that should act as a dynamic resistance and continues to trade below the 50 and the 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a Fibonacci extension at 1.0666 (resistance), a daily resistance at 1.0622, a daily resistance at 1.0462, the 10-day moving average at 1.0452 (resistance) and a new multi-year low at 1.0340 (support).
victoriajensen
Private, 1st Class
- Messages
- 1,117
EUR/USD is still consolidating sideways above the support at 1.0350 - 1.0400 and that consolidation will likely continue until the FOMC meeting minutes announcement later today.
The euro marked successful session against the US dollar on Wednesday. The single currency broke the two-day negative series and recovered some of the losses. In the early trading hours today the EUR/USD surpassed the resistance at 1.0537 and the current market price is 1.0554. Next resistance is located at 1.0583 and in case of breaking it, we may expect test of 1.0600.
honeill
Sergeant
- Messages
- 1,126
On yesterday session, the EURUSD rose with a narrow range and managed to close near the high of the day, however closed within previous day range, which suggests being slightly on the bullish side of neutral.
The currency pair closed above the 10-day moving average that should act as a dynamic support but continues to trade below the 50 and the 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a Fibonacci extension at 1.0666 (resistance), a daily resistance at 1.0622, a daily support at 1.0462, the 10-day moving average at 1.0458 (support) and a new multi-year low at 1.0340 (support).
The currency pair closed above the 10-day moving average that should act as a dynamic support but continues to trade below the 50 and the 200-day moving averages that should act as dynamic resistances.
The key levels to watch are: a Fibonacci extension at 1.0666 (resistance), a daily resistance at 1.0622, a daily support at 1.0462, the 10-day moving average at 1.0458 (support) and a new multi-year low at 1.0340 (support).
victoriajensen
Private, 1st Class
- Messages
- 1,117
EUR/USD bounced off the resistance at 1.0570 after forming a hanging man candlestick on the one-hour time-frame and it's currently testing the support at 1.0480. A breakout below that level will likely lead to a further move to the downside towards 1.0450.
