Eur/usd - page 429

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Yesterday EURUSD initially rose but found enough selling pressure to turn around and close in the red near the low of the day, however closed within the previous day range, that suggests  being slightly on the bearish side of neutral.

 

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

 

The key levels to watch are:  A daily resistance at 1.1753, other daily resistance at 1.1556, daily support at 1.1459, the previous swing high at 1.1398 (support) and the 10-day moving average at 1.1361 (support). 

 
EUR/USD is trading lower in today's session currently trying to break the 1.15 barrier. Price is yet to determine a direction but by the way it looks, bears might attempt to short the Euro for a target at 1.14.
 
Euro/dollar attempted to push higher yesterday, topped at 1.1616 but tumbled down then and closed lower at 1.1499. The bias is bearish for test of 1.1400. Immediate resistance is at 1.1550, whose breach could lead price to neutral zone with re-testing 1.1616. The price is still in bullish phase but potentially 1.1700 remains strong resistance and failure to break above the upper line of the bullish channel and 1.1700 could lead to downward pressure with targets near the lower limit of the channel.
 

After the six days rally was halted yesterday, today EUR/USD was trading in a narrow range, recording insignificant gains.

 
The main event of Wednesday was the publication of the report from ADP to change the number of new jobs in the US economy last month. The April data were quite disappointing.
 
The euro fell against the dollar on Tuesday, although it managed to reach 1.1615. The single currency fell 0.4 percent to 1.1510, which is the weak performance last week.
 

On Wednesday session the euro marked a slight decline against the US dollar. The session started at 1.1495 and finished only 10 pips lower. The graphics continue to develop over moving averages, while the index of relative strength remains on neutral territory. In the short term outlook remains neutral as for further progress the pair must jump and stay above 1.1600.

 

Yesterday EURUSD went back and forward without any clear direction however closed in the red, near the low of the day and managed to close below the previous day low, suggesting a strong bearish momentum.

 

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

 

The key levels to watch are:  A daily resistance at 1.1753, other daily resistance at 1.1556, daily support at 1.1459, the previous swing high at 1.1398 (support) and the 10-day moving average at 1.1387 (support). 

 
The euro was down against the US Dollar on Wednesday. Currently EUR/USD is trading at 1.1472, shedding 0.1%. I believe that the support is now located at the level of 1.1333, Friday's low, and resistance is likely to make the level of 1.1615 - a maximum of Tuesday.
 

EURUSD lower as USD demand prevails again


We're seeing more US Dollar buying as European trading gets fully underway 5 May 2016

EURUSD has punched its way through 1.1470-75 support and triggered stops to post 1.1451.

More bids/demand at 1.1450 but stops now reported below 1.1440 and that could bring the next wave of support at 1.1420 into play.

We have two large-ish option expiries at 1.1475 and 1.1500 and the price action so far, as well as the general USD demand, would suggest that the writers have an interest to keep it below those levels at the 14.00 GMT expiry.


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