Eur/usd - page 597

 
The single currency recorded a modest rise over the US dollar on Wednesday. Session started at 1.2401 and finished only 11 pips higher. Daytime extreme values ??were reached at 1.2473 and 1.2386 respectively. In the short term, the outlook remains positive, and the immediate target is 1.2560.
 
Key levels to watch for:
Support: 1.2370; 1.2260; 1.2070;
Resistance: 1.2560;
 

On the last Friday’s session, the EURUSD initially tried to rally but found enough selling pressure at 1.2475 to most of its gains and closed near the low of the day, however managed to close within Tuesdays’ range, which suggests being slightly on the bearish side of neutral.

 

The currency pair is trading above the 10, 50, and 200-day moving averages that should provide dynamic support.

 

The key levels to watch: a daily resistance at 1.2576, other daily resistance at 1.2432, the 10-day moving average at 1.2382 (support), a daily support at 1.2287, a daily support at 1.2115 and a daily support at 1.2041.

 
On Thursday, the dollar slightly rose in price against other major currencies, receiving support as a result of a positive statement by the Fed, made on Wednesday after the results of its meeting. The euro fell: EUR/USD dropped 0.10% to 1.2400.
 

On yesterday session, the EURUSD rallied with a wide range and closed near the high of the day, in addition managed to close above Wednesday’s high, which suggests a strong bullish momentum. However, it is at all times high so caution to the upside is advised.

 

The currency pair is trading above the 10, 50, and 200-day moving averages that should provide dynamic support.

 

The key levels to watch: a daily resistance at 1.2576, other daily support at 1.2432, the 10-day moving average at 1.2410 (support), a daily support at 1.2287, a daily support at 1.2115 and a daily support at 1.2041.

 

Trend by Volume.

Volume Trend

 

EURUSD needs to find more momentum to push through last week high of 1.25367. It could be happen today as we have Non-Farm Payroll announcement which may change the momentum of this pair.

From weekly chart we can see this pair move in quite balance act, and both ichimoku tenkan & kijun sen are flat indicating well balance move.


 
The pair starts the week with a bearish gap but almost recovered.
 

On the last Friday’s session, the EURUSD initially fell with a narrow range but found enough support near the 10-day moving average to trim half of its losses and closed in the middle of the daily range, in addition the currency pair managed to close within Thursday’s range, which suggests being clearly neutral, neither side is showing control.

 

The currency pair is trading above the 10, 50, and 200-day moving averages that should provide dynamic support.

 

The key levels to watch: a daily resistance at 1.2576, other daily support at 1.2432, the 10-day moving average at 1.2427 (support), a daily support at 1.2287, a daily support at 1.2115 and a daily support at 1.2041.

 

On yesterday session, the EURUSD initially rose with a narrow range but found enough selling pressure to trim all of its gains and closed near the low of the day, in addition managed to close below Friday’s low, which suggests a strong bearish momentum.

 

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

 

The key levels to watch: a daily resistance at 1.2576, other daily resistance at 1.2432, the 10-day moving average at 1.2421 (resistance), a daily support at 1.2287, a daily support at 1.2115 and a daily support at 1.2041.