Eur/usd - page 381
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On yesterday session the EURUSD went back and forward without any clear direction although closed in the red, in the middle of the daily range, in addition managed to close within the previous day range, suggesting that the pair should continue with the consolidation.
The pair continues to close shy below the 10-day moving average but is still above the 50-day moving average.
The key levels to watch are: 200-day moving average at 1.1047 (resistance), previous swing high at 1.0984 (resistance), 10-day moving average at 1.0892 (support), the 50-day moving average at 1.0838 (support) and the last swing low at 1.0805 (Support).
The eur usd pair is expected to trade in a narrow range while taking support around 1.0709 levels and if the pair breaks this level then it can even touch the level of 1.065 in extreme cases if the upbeat us inflation numbers and ECB meeting plays over the currency pair. The volatility will hit euro and will favour downside.
well the data has been released, let see what investors get through it
Draghi To Keep EUR Capped, Keep Selling Rallies - Credit Agricole The EUR has been in demand since the start of the year, mainly on the back of rising risk aversion. However, we are of the view that rallies should be sold.
First of all monetary policy expectations should become a more important currency driver anew, especially as the focus turns to next week’s ECB announcement. Broadly unchanged growth momentum and weak commodity price developments should have increased downside risks to inflation.
From that angle it cannot be excluded that central bank President Draghi will consider a more dovish rhetoric. This is especially true when considering that the December policy meeting minutes reaffirmed that an easing bias remains intact.
source
EUR/USD did not make significant movement yesterday. The bias remains neutral in nearest term, probably with slight bearish signals for testing the 1.0800 support. Immediate resistance is at 1.0969.
EUR/USD rebounds to the week's open price. the range is still tight but there might be a chance over the resistance levels 1.0940.
I see no chance for a useful trade in EUR/USD for the 2nd day this week, any one can tel me when we will see good move? Hope the US homes sale will move things if it came as expected.
The euro recorded a modest increase against the US Dollar on Tuesday. The session started at 1.0890 ended just 16 pips higher. Daily extreme values were reached respectively at 1.0859 and 1.0938. If the euro continues to move upward, we can expect an attempt to test the first resistance at 1.0975.
On yesterday session the EURUSD went back and forward without any clear direction but closed in the green, in the middle of the daily range, in addition managed to close within the previous day range, suggesting that the pair should continue with the consolidation.
The pair closed above the 10 and the 50-day moving averages that are acting as a dynamic support.
The key levels to watch are: 200-day moving average at 1.1047 (resistance), previous swing high at 1.0984 (resistance), 10-day moving average at 1.0898 (support), the 50-day moving average at 1.0844 (support) and the last swing low at 1.0805 (Support).
mainly the pair is trading range while 1.100 level is extreme resistance for it and a break above it would probably be a bullish break out for it