Eur/usd - page 497

 
EUR/USD is higher in today's early European hours. The pair is now trading at 1.1007 and already made a high of 1.1026. If we do not get above 1.1020 today there is a big chance to see further depreciation of the pair.
 

Yesterday the EURUSD rallied with a narrow range and closed near the high of the day, however closed within the previous day range, which suggests being slightly on the bullish side of neutral.

 

The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.

 

The key levels to watch are: a daily resistance at 1.1237, the 10-day moving average at 1.1072 (resistance), a daily resistance at 1.1097, July swing low at 1.0952 (support) and a daily support at 1.0900.

 

EUR/USD was seen today back above 1.1000 level as the US dollar cheered up on the excellent CPI numbers.   The pair climbed to 1.1015, but lost strength to push higher. 

 

EUR/USD: Sell At The Low-End Of The Former Range


The spotlight remains on a more important support zone at 1.0952/13.

EURUSD’s decline has begun to slow on approach to what is seen as a more important support zone at 1.0952/13 – the June/July lows and the 61.8% retracement of the December 2015/May 2016 rise.

We would expect a renewed effort to base here and to see an initial bounce back from it. However, should it be directly removed, this would signal a more sustained phase of weakness to measured range objectives at 1.0876, then 1.0826/22, and eventually back to the lower end of the medium-term range at 1.0605/00.

 

Yesterday the EURUSD tried to rallied but found enough selling pressure to quickly reverse  and closed near the low of the day, however closed within the previous day range, which suggests being slightly on the bearish side of neutral.

 

The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.

 

The key levels to watch are: a daily resistance at 1.1237, the 10-day moving average at 1.1055 (resistance), a daily resistance at 1.1097, July swing low at 1.0952 (support) and a daily support at 1.0900.

 
EUR/USD is trading relatively unchanged since yesterday's calm levels around 1.10. The pair is now slightly below at 1.0995 and it seems to be consolidating ahead of market news and reports that will create volatility. Main trend remains bearish, expectations are in favor of the US dollar.
 

Today the EUR/USD pair hit new fresh daily low at 1.0960, then bounced and currenlty is staying within its daily range.  This level is acting now as immediate support.

 

EUR/USD remained close to unchanged during yesterday’s session and closed just 7 pips lower at 1.0972. The pair is moving under the moving averages while RSI in neutral area. Next target is 1.0980 level.

 

Yesterday the EURUSD went back and forward without any clear direction but closed in the red, in the middle of the daily range, furthermore closed within the previous day range, which suggests being clearly neutral, neither side is showing control.

 

The pair continues to trade well below the 10, 50 and 200-day moving averages that should act as dynamic resistances.

 

The key levels to watch are: a daily resistance at 1.1237, the 10-day moving average at 1.1033 (resistance), a daily resistance at 1.1097, July swing low at 1.0952 (support) and a daily support at 1.0900.

 
The euro/dollar is still under pressure. Starting Wednesday near a strong psychological level of 1.1000, the pair attempted to break it in the morning. But at the end of trading in Europe, the euro quoted again downwards and at the beginning of the New York trading session reached the next support 1.0950.
Prior to the announcement of the Central Bank decision on interest rates currency pair is likely to remain between the levels of 1.0950 and 1.1000. Further dynamics of the tool depends on Draghi's statements. If the controller hints for renewal of QE program after March 2017, when the single European currency may come under a wave of selling. In this case, the price will rush down and reach 1.0900. Below Target of the sellers will be the levels 1.0850 and 1.0800.
In the case of growth, the euro/dollar will return to the level of 1.1000. Objectives of the buyers are 1.1060 and 1.1100.