The single currency recorded a modest rise against the US dollar on Thursday. The session started at 1.1772 and finished 26 pips higher. Daily extreme values were reached at 1.1772 and 1.1839, respectively. In the short run, EUR / USD continues to trade on a positive territory, with a main target of 1.1920. Immediate support is 1.1720.
EUR/USD at the 1.3800 level.
- Thread starter fxstrategist
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honeill
Sergeant
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- 1,126
On the last Friday’s session, the EURUSD fell with a wide range but found enough buying pressure to trim some of its losses although closed in the red, in the middle of the daily range, in addition, managed to close below Thursday’s range, which suggests a bearish momentum.
The currency pair is trading above the 10-day moving average that should provide a dynamic support, nonetheless, it continues to trade below the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829 and a daily support at 1.1753, the 10-day moving average at 1.1734 (support), a key level at 1.1684 (support), a daily support at 1.1555 and year-to-date low at 1.1509.
The currency pair is trading above the 10-day moving average that should provide a dynamic support, nonetheless, it continues to trade below the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829 and a daily support at 1.1753, the 10-day moving average at 1.1734 (support), a key level at 1.1684 (support), a daily support at 1.1555 and year-to-date low at 1.1509.
honeill
Sergeant
- Messages
- 1,126
On yesterday session, the EURUSD initially tried to rally but found enough resistance near 1.1829 to erase some of its gains and closed near the low, however, managed to close within Friday’s range, which suggests being slightly on the bearish side of neutral.
The currency pair is trading above the 10-day moving average that should provide a dynamic support, nonetheless, it continues to trade below the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829, a daily support at 1.1753, the 10-day moving average at 1.1742 (support), a key level at 1.1684 (support), a daily support at 1.1555 and year-to-date low at 1.1509.
The currency pair is trading above the 10-day moving average that should provide a dynamic support, nonetheless, it continues to trade below the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829, a daily support at 1.1753, the 10-day moving average at 1.1742 (support), a key level at 1.1684 (support), a daily support at 1.1555 and year-to-date low at 1.1509.
honeill
Sergeant
- Messages
- 1,126
On yesterday session, the EURUSD initially rose but found enough selling pressure near previous day high to reverse and managed to close near the low of the day, in addition, closed below Mondays’ low, which suggests a strong bearish momentum.
The currency pair is trading above the 10-day moving average that should provide a dynamic support, nonetheless, it continues to trade below the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829, a daily support at 1.1753, the 10-day moving average at 1.1746 (support), a key level at 1.1684 (support), a daily support at 1.1555 and year-to-date low at 1.1509.
The currency pair is trading above the 10-day moving average that should provide a dynamic support, nonetheless, it continues to trade below the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829, a daily support at 1.1753, the 10-day moving average at 1.1746 (support), a key level at 1.1684 (support), a daily support at 1.1555 and year-to-date low at 1.1509.
fxstrategist
Corporal
- Messages
- 742
The EURUSD is really directionless, stuck between the 1.1700 level and the 1.1800 level. The 1.1500 level is still its most important support.
honeill
Sergeant
- Messages
- 1,126
On yesterday session, the EURUSD rallied with a narrow range and closed near the high of the day, however, closed within Tuesdays’ range, which suggests being slightly on the bullish side of neutral.
The currency pair is trading above the 10-day moving average that should provide a dynamic support, nonetheless, it continues to trade below the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), the 50-dat moving average at 1.1887 (resistance), a daily resistance at 1.1829, the 10-day moving average at 1.1765 (support), a daily support at 1.1753, a key level at 1.1684 (support), a daily support at 1.1555 and year-to-date low at 1.1509.
The currency pair is trading above the 10-day moving average that should provide a dynamic support, nonetheless, it continues to trade below the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), the 50-dat moving average at 1.1887 (resistance), a daily resistance at 1.1829, the 10-day moving average at 1.1765 (support), a daily support at 1.1753, a key level at 1.1684 (support), a daily support at 1.1555 and year-to-date low at 1.1509.
honeill
Sergeant
- Messages
- 1,126
On yesterday session, the EURUSD dived with an extremely wide range and closed near the low of the day, in addition, managed to close below Wednesday’s low, which suggests a strong bearish.
The currency pair closed below the 10-day moving average that should provide a dynamic resistance, nonetheless, it continues to trade below the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829, a daily resistance at 1.1753, the 10-day moving average at 1.1742 (resistance), a key level at 1.1684 (resistance), a daily support at 1.1555 and year-to-date low at 1.1509 (support).
The currency pair closed below the 10-day moving average that should provide a dynamic resistance, nonetheless, it continues to trade below the 50 and the 200-day moving averages that should provide dynamic resistance.
The key levels to watch: January low at 1.1915 (resistance), a daily resistance at 1.1829, a daily resistance at 1.1753, the 10-day moving average at 1.1742 (resistance), a key level at 1.1684 (resistance), a daily support at 1.1555 and year-to-date low at 1.1509 (support).
The euro / dollar attempted to rise yesterday, reaching a peak of 1.1850, but collapsed afterwards and hit 1.1562 after the ECB's decision to stop QE in December and keep interest rates low. Technically, the price breaks below the trendline that resets the upward phase and activates my bearish model. Expectations are down for testing 1.1500 for now. The first resistance is at 1.1620 / 40. A clear breakthrough over it may take the price to a neutral zone, but while the pair remains below 1.1725 / 00, I prefer the bearish scenario in this phase. Any bullish pressure could be seen as a good sales opportunity.
