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EUR/USD at the 1.3800 level.

Discussion in 'Forex Trading Systems and Strategies' started by fxstrategist, Apr 14, 2014.

  1. honeill

    honeill Corporal

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    On yesterday session, the EURUSD went back and forward without any clear direction, consequently closed in the middle of the daily range, in addition, managed to close within Fridays’ range, which suggests being clearly neutral, neither side is showing control.

    The currency pair closed above the 10-day moving average that should act as a dynamic support although is trading below the 50 and the 200-day moving averages, all should provide a dynamic resistance.

    The key levels to watch: a daily resistance at 1.1555, a daily resistance at 1.1459, the 50-day moving average at 1.1408 (resistance), the 10-day moving average at 1.1346 (support), October low at 1.1302 (support), a daily support 1.1236, 2018 low at 1.1214 (support) and 100 Fibonacci expansion at 1.1189 (support).
     
  2. honeill

    honeill Corporal

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    On yesterday session, the EURUSD initially rose but found enough selling pressure near the 50-day moving average at 1.1408 to reverse and closed near the low of the day, however, managed to close within Mondays’ range, which suggests being slightly on the bearish side of neutral.

    The currency pair is trading above the 10-day moving average that should act as a dynamic support although is trading below the 50 and the 200-day moving averages, all should provide a dynamic resistance.

    The key levels to watch: a daily resistance at 1.1555, a daily resistance at 1.1459, the 50-day moving average at 1.1403 (resistance), the 10-day moving average at 1.1339 (support), October low at 1.1302 (support), a daily support 1.1236, 2018 low at 1.1214 (support) and 100 Fibonacci expansion at 1.1189 (support).
     
  3. honeill

    honeill Corporal

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    On yesterday session, the EURUSD initially fell but found enough buying pressure near 1.1302 to trim all of its losses and managed to close 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 act as a dynamic support although is trading below the 50 and the 200-day moving averages, all should provide a dynamic resistance.

    The key levels to watch: a daily resistance at 1.1555, a daily resistance at 1.1459, the 50-day moving average at 1.1400 (resistance), the 10-day moving average at 1.1340 (support), October low at 1.1302 (support), a daily support 1.1236, 2018 low at 1.1214 (support) and 100 Fibonacci expansion at 1.1189 (support).
     
  4. fxstrategist

    fxstrategist Corporal

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    The EURUSD visits again the 55 day EMA just above the 1.1400 level and bounces to the downside. The moving average has been acting as a good resistance, but a breakout above it could take the pair to the 1.1500 level. To the downside, if the EURUSD goes boack down, it may find some support at the 1.1300 level, followed by the 1.1200 level.
     
  5. honeill

    honeill Corporal

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    On yesterday session, the EURUSD initially fell with a narrow range but found enough buying pressure near 1.1321 to trim all of its losses and closed in the middle of the daily range, in addition, managed to close above Wednesday’s high, which suggests a bullish momentum.

    The currency pair is trading above the 10-day moving average that should act as a dynamic support although is trading below the 50 and the 200-day moving averages, all should provide a dynamic resistance.

    The key levels to watch: a daily resistance at 1.1555, a daily resistance at 1.1459, the 50-day moving average at 1.1398 (resistance), the 10-day moving average at 1.1349 (support), October low at 1.1302 (support), a daily support 1.1236, 2018 low at 1.1214 (support) and 100 Fibonacci expansion at 1.1189 (support).
     
  6. fxstrategist

    fxstrategist Corporal

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    The consolidation continues on the EURUSD and forms a symmetrical triangle with a good resistance at the 55 day EMA, which is above the 1.1400 level. In case of a bearish pullback, the 1.1300 level could act as support.
     
  7. bigdolly

    bigdolly Master Sergeant

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    After weak NFP report Euro will start to rise gradually as markets are pricing out Fed interest rate hike on March, that's why I would sell dollar next week
     
  8. honeill

    honeill Corporal

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    On the last Friday’s session, the EURUSD went back and forward without any clear direction consequently closed in the middle of the daily range, in addition, managed to close within Thursday range, which suggests being clearly neutral, neither side is showing control.

    The currency pair is trading above the 10-day moving average that should act as a dynamic support although is trading below the 50 and the 200-day moving averages, all should provide a dynamic resistance.

    The key levels to watch: a daily resistance at 1.1555, a daily resistance at 1.1459, the 50-day moving average at 1.1391 (resistance), the 10-day moving average at 1.1364 (support), October low at 1.1302 (support), a daily support 1.1236, 2018 low at 1.1214 (support) and 100 Fibonacci expansion at 1.1189 (support).
     

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