Eur/usd - page 370
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1.1000 is gonna be tough to reach for the EUR/USD this week but i still believe that the bullish trend is stronger.
During the first day of the week the single currency presented excellent against the major currencies on a day poor in important economic data.
Trade volumes are expected to remain low this week due to the upcoming holidays.
TODAY'S ANALYSIS The secondary trend of EUR/USD is bullish on charts and price is trading above the trend line in its hourly chart. In hourly chart the price is sustaining above 50 day SMA and taking support of 200 day SMA indicating uptrend of the pair.
Resistance level of 1.1010 and Support level of 1.0850
If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair.
INDICATORS:-
RSI is sustaining in its buying zone indicating the upcoming bullish trend in the pair.
STRATEGY: EUR/USD is looking bullish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions in it.
Yesterday the EURUSD rose with a wide range and closed in the middle of the daily range, in addition closed above the previous day high, all suggesting a week bullish momentum.
The pair closed above 10-day moving average that is now acting as a dynamic support and should hold or even push the price up.
The key levels to watch are: the 200-day moving average at 1.1076 (resistance), the 10-day moving average at 1.0913 (support), the 1.0900 (support) and 1.0819 (support).
The single currency recorded an increase against the dollar for a third day on Tuesday, adding nearly 40 pips to a closing price of 1.0955. The pair marked a one-week high at 1.0983, while the lowest point was reached at 1.0902. The price went above the average values, while the index of relative strength remains in favor of the bulls. Immediate goal appears to be psychological barrier at 1.1000.
The pair is holding above its 1.091 level Technically the daily prices are trading above its 50 day Moving average with pair sustaining above its key level of 1.088. Nevertheless, it is expected to be in the limited range of 1.07 to 1.106 levels for the some upcoming sessions. Meanwhile the data from US and Germany would be looked out by investors. The resistance can be seen at 1.104 levels with next placed at the level of 1.106, while to the downside the support can be located at the level of 1.083 with next support at 1.079 and 1.071.
I don't Think EUR/USD will have a direction this days, The holiday season is about to start.
Another swinging day on the EUR/USD, Happy Holidays everyone.
EUR/USD's short-term bullish momentum towards 1.1000 continues.
EUR/USD Fundamental Analysis - December 28, 2015 - Forecas
The EUR/USD gained 15 points in the morning session to trade at 1.0927 as traders get ready for the long Christmas holiday. The global markets are gradually decelerating ahead of the holiday period as lower volumes and a relatively light economic calendar have provided the opportunity for inconsistencies to spring across the board. Erratic movements continue to affect the currency markets as investors unwind their positions and remain on standby in the hope of catching the right side of the many anticipated moves in the New Year. In addition, the high levels of volatility seen in recent days could contribute towards the ongoing concerns around the aggressive oversupply of oil in the global markets, however with Christmas just two days away the markets may be set to rapidly cool down until the New Year.
Despite the renewed appetite for the greenback, the euro has kept to a wide range with support at 1.080 and resistance around 1.1050. The global markets are gradually decelerating ahead of the holiday period, but it seems that the eurodollar may have already entered the festive mood and this may result in prices ranging until the New Year. Regardless of this range, fundamentally the EURUSD remains bearish and the potential expansion in divergence in both monetary policy and economic sentiment between the United States and Europe should encourage bears to send prices back towards 1.064 in the near future.
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