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Yesterday the EURUSD went back and forward but managed to close in the middle of the daily range, in addition closed within the previous day range, suggesting that the pair continues consolidating.
The 10-day moving average continues to support the pair and even pushing the price up.
The key levels to watch are the 1.1097 (resistance), a 200-day moving average at 1.1084 (resistance), the 10-day moving average at 1.0942 (support), 1.0900 (support) and 1.0819 (support).You are playin it safe all the time, And i did the same waiting for the big moves tomorrow .
France Markit mftg PMI Dec flash 51.6 vs 50.6 exp First of the PMI releases now out
Euro was already in retreat and this mixed bag is doing little to change that
Yesterday the EURUSD fell with a wide range, creating an outside day and close near the low of the day, in addition closed below the previous day low, all suggesting that the bears are stepping in.
The 10-day moving average continues to support the pair but now is turning flat ahead of the FED interest rate decision later today.
The key levels to watch are the 1.1097 (resistance), a 200-day moving average at 1.1084 (resistance), the 10-day moving average at 1.0937 (support), 1.0900 (support) and 1.0819 (support).
The euro is losing ground against the dollar on Tuesday. As a result, the pair managed to break through the support at 1.0912. Although the single currency retreated against the dollar, short-term expectations remain in its favor. If they are justified resistance at 1.1070 could be tested. Tuesday session started at 1.0990, initially bulls prevailed and currencies peaked at 1.1059. Subsequently the direction was changed and ultimately came to a final price of 1.0928.
EUR/USD is completely not moving all day long and waiting for the interest rate bomb to be dropped by the FED in 1 Hour
EUR/USD unfortunately did not act as expected and kept in a tight rang the whole day close the opening point. Let's see if there are any signs for a good chance tomorrow.
The single currency recorded a volatile session against the dollar on Wednesday. Ultimately, the euro retreated, but the decrease was not significant. Meanwhile, the support at 1.0902 was pierced. If bearish sentiment continue in the future, the pair will test the level at 1.0838. Trading day on Wednesday started at a price of 1.0928, as the trend was relatively neutral to the beginning of long-awaited meeting of the US Federal Reserve. After that currencies fluctuate widely, the difference between the highest and lowest value for the day was 107 pips.
Yesterday the EURUSD initially rose but found enough selling pressure to turn around and and close near the low of the day, in addition closed below the previous day low, all suggesting that the bears remain in control.
The 10-day moving average reversed its roll from support to resistance, as the pair is now trading below it.
The key levels to watch are the 1.1097 (resistance), a 10-day moving average at 1.0933 (resistance), the 50-day moving average at 1.0835 (support), 1.0900 (support) and 1.0819 (support).
Eurozone Construction Output Rebounds In October Eurozone construction output increased in October after falling in the previous month, figures from Eurostat showed Thursday.
Construction output climbed a seasonally adjusted 0.5 percent month-over-month in October, reversing a 0.7 percent decrease in September, which was revised from a 0.4 percent drop. In August, output had risen the same 0.5 percent.
On an annual basis, construction output rose 1.1 percent in October, much faster than the 0.1 percent slight gain in the preceding month, revised down from 1.8 percent. It was the second successive monthly hike.
In the EU 28, construction output advanced 1.2 percent annually and by 0.1 percent monthly in October.
Among member states, the largest monthly rises in production in construction were recorded in Slovakia, Spain ,Sweden and Romania, while the highest decreases were observed in Hungary, Poland and the Czech Republic.
source
EUR/USD continue to drop with yesterday's announcement but what is surprising that the market didn't react violently as I expected.