Eur/usd - page 613

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A Consistent but Slow EURUSD Slide May Turn Into a Euro Cascade

Talking Points:

  • EURUSD is the benchmark for which we measure the Euro's performance, but the pair's slide has deviated from the currency pace
  • A Euro slide in earnest has started just over the past weeks amid recognition of unrealistic enthusiasm and new risks ahead
  • Italian bonds and the FTSE MIB tumbled to start the week as the country's coalition government poses a threat to the Euro
 

On yesterday session, the EURUSD went back and forward without any clear direction but managed to close near the low of the day, in addition, closed within Mondays’ range, which suggests being slightly on the bearish side of neutral.

 

The currency pair continues to trade below the 10, the 50 and the 200-day moving averages that should provide dynamic resistance.

 

The key levels to watch: the 200-day moving average at 1.2046 (resistance), a daily resistance at 1.2041, the 10-day moving average at 1.1814 (resistance), January low at 1.1915 (resistance), a daily resistance at 1.1829 and a daily support at 1.1753 and a key level at 1.1684 (support).

 

On yesterday session, the EURUSD dived with a wide range and closed near the low of the day, in addition, managed to close below Tuesdays’ low, which suggests a strong bearish momentum.

 

The currency pair continues to trade below the 10, the 50 and the 200-day moving averages that should provide dynamic resistance.

 

The key levels to watch: the 200-day moving average at 1.2046 (resistance), a daily resistance at 1.2041, the 10-day moving average at 1.1814 (resistance), January low at 1.1915 (resistance), a daily resistance at 1.1829 and a daily resistance at 1.1753 and a key level at 1.1684 (support).

 
EUR/USD
Key levels to watch for:
Support: 1.1720;
Resistance: 1.1920; 1.2070; 1.2260;
 
At the auction in Europe on Thursday, the focus of market participants was the British pound. It strengthened against the dollar and the euro after strong data on retail sales in the UK.
Market participants reacted by buying the pound, counting on the fact that the data will increase the likelihood of an raise in the basic interest rates by the Bank of England in the near future. The price jumped by 60 points, to 1.3421. 
 

On yesterday session, the EURUSD initially tried to rally with a narrow range but found enough selling pressure to trim half of its gains and closed in the middle of the daily range, in addition, managed to close within Wednesday’s range, which suggests being clearly neutral, neither side is showing control.

 

The currency pair continues to trade below the 10, the 50 and the 200-day moving averages that should provide dynamic resistance.

 

The key levels to watch: the 200-day moving average at 1.2046 (resistance), a daily resistance at 1.2041, the 10-day moving average at 1.1766 (resistance), January low at 1.1915 (resistance), a daily resistance at 1.1829 and a daily resistance at 1.1753, a key level at 1.1684 (support) and a daily support at 1.1555.

 
The euro fell against the US dollar on Friday. By the close of US trading, EUR/USD was trading at 1.1650, losing 0.59%. I believe that support is now at 1.1646, the low of Friday's trading, and resistance is likely at 1.1829 - Tuesday's high.
 
Eur/Usd starts the week with a bullish gap, the pair seems to extend its consolidation movement above 1.17 level.
 

On the last Friday’s session, the EURUSD took a nosedive with a wide range and closed near the low of the day, in addition, managed to close below Thursday’s low, which suggests a strong bearish momentum.

 

The currency pair continues to trade below the 10, the 50 and the 200-day moving averages that should provide dynamic resistance.

 

The key levels to watch: a daily resistance at 1.2041, the 10-day moving average at 1.1762 (resistance), January low at 1.1915 (resistance), a daily resistance at 1.1829 and a daily resistance at 1.1753, a key level at 1.1684 (resistance) and a daily support at 1.1555.

 

On yesterday session, the EURUSD initially fell with a wide range 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 continues to trade below the 10, 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 resistance at 1.1753, the 10-day moving average at 1.1705 (resistance), a key level at 1.1684 (resistance), a daily support at 1.1555 and other daily support at 1.1460.

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