Eur/usd - page 399
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The single currency lost ground against the dollar for a second day after trading in a relatively narrow range. The daily limit values were reached respectively at 1.1052 and 1.0989, as the euro depreciated by 9 pips to a closing price of 1.1018. Thus, the pair marked a decline of 2.8% over the last eight sessions. Technical outlook remains negative, downward crossing of the moving averages will contribute to the bearish sentiment. Main target downwards remain 1.0960.
Yesterday the EURUSD went back and forward with a narrow range and closed in the middle of the daily range, however managed to close within the previous day range, suggesting lack of momentum.
The pair is trading below the 10 and the 200-day moving averages that are acting as dynamic resistances however is still trading above the 50-day moving average that are acting as dynamic support.
The key levels to watch are: The previous swing high at 1.1376, a daily resistance at 1.1237, the 10-day moving average at 1.1106 (resistance), a daily resistance at 1.1097, the 200-day moving average at 1.1024 (resistance), 50-day moving average at 1.0982 (support) and a daily support at 1.0900.
Euro Falls to 3-Week Low, Below $1.10 The single currency lost significantly against the dollar on Wednesday, despite the returned risk-off sentiment that has sent investors running for safe havens.
The pair was down 0.5% on Wednesday at $1.0962, well below the 200 DMA support at $1.1050 and the psychological support of $1.10, also hitting a three-week low, with a few bids at $1.0945-50 and some larger ones at $1.0880-90.
The euro initially booked slight gains at the start of the day, as risk aversion sentiment prevailed. Renewed fears over slumping oil prices, turmoil on the markets and the global economic slowdown sent investors running back to safe havens on Tuesday, after riskier trading was observed on Monday.
Hopes of an oil production cut or even effective freeze were crushed and sent oil prices down, while another devaluation of the yuan by the People's Bank of China (PBoC) did not improve the situation.
Still, even though other safe-haven assets such as gold and the yen saw increased buying action, the euro was dominated by bears.
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A second day the EUR/USD is trading around open price which proves that the support level remains and the market is uncertain, EUR/USD failed to break under the support levels and rebounded to sustain over 1.1000, most probably we will see a rebound from this levels second option if price succeeded to stay under support line will be a good opportunity for going short.
A second day the EUR/USD is trading around open price which proves that the support level remains and the market is uncertain, EUR/USD failed to break under the support levels and rebounded to sustain over 1.1000, most probably we will see a rebound from this levels second option if price succeeded to stay under support line will be a good opportunity for going short.
I agree with you on that, Let us see what will be the next move for the EUR/USD till the end of this week.
Yesterday the EURUSD went back and forward with a wide range and closed in the middle of the daily range, however managed to close within the previous day range, suggesting lack of momentum and possible consolidation.
The pair is trading below the 10 and the 200-day moving averages that are acting as dynamic resistances however is still trading above the 50-day moving average that are acting as dynamic support. The Moving averages are squeezing the price let’s wait to see where it will pop.
The key levels to watch are: The previous swing high at 1.1376, a daily resistance at 1.1237, the 10-day moving average at 1.1086 (resistance), a daily resistance at 1.1097, the 200-day moving average at 1.1024 (resistance), 50-day moving average at 1.0983 (support) and a daily support at 1.0900.
Not much movement for today for EUR/USD.
I see a bullish movement in the short term for the EUR/USD from the 1.1000 support level.
It seems that EUR/USD will stick to a narrow range through the foreseeable future.
It seems that EUR/USD will stick to a narrow range through the foreseeable future.
Still bulls sitting at 1.10. Support is held artificially