Eur/usd - page 345
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EUR/USD bounced off the support at 1.1000 today and consolidation continued. I doubt it will manage to break below that level before the FOMC rate decision announcement on Wednesday.
EUR/USD recovered little bit today around 60 pip but the market still low and consolidate,let us see what is the pair going to act tomorrow.
The market is so calm before Wednesday's FOMC statement.
The single currency recorded a modest increase against the dollar on Monday. The session started at 1.1007 and ended 45 pips higher. Daily extreme values were recorded respectively at 1.1003 and 1.1067. The graphics continued to develop under the moving average. On the upside, break of 1.1080 will move the pair to the resistance at 1.1180.
Yesterday the EURUSD rose with a narrow range and closed in the green near the high of the day, shy below the 200-day moving average.
The key levels to watch are 1.1097 (Resistance), the 200-day moving average at 1.1076 (resistance) and 1.0900 (support).
EUR/USD is trading in a tight range since the beginning of the week. Only a break under 1.1000 will give me a signal to go short.
Was not a good day for the EUR/USD, No accurate signal that the pair will break below 1.0900 support today.
EUR/USD: Buck Prevails in Close Fight as Draghi's Oath Echoes The EUR/USD was trading marginally lower on Tuesday as the euro currency gave up its earlier gains amid a volatile trading session characterized by several moderate up and down swings.
Therefore the euro abandoned its endeavor to rebound from the two-month bottom at $1.0987 for the time being, staying below the previous strong eight week support line at the $1.11 level, as a result of dovish comments by European Central Bank (ECB) President Mario Draghi last week.
In the meantime, the focus of market participants shifted to the Federal Open Market Committee (FOMC) meeting, despite policymakers being widely expected to keep interest rates at the record low. However, investors awaited the statement following as an indication of future moves by the US central bank.
"The data has been consistently negative since the Fed's last meeting. That combined with oil prices and the risk of inflation in the future is collectively going to discourage the Fed from being overly hawkish," BK Asset Management managing director Kathy Lien said.
In the afternoon, the euro currency slipped 0.13% to $1.1043 against the US dollar, falling from an intraday high of $1.1079 seen earlier in the morning.
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The single currency recorded a modest decline on Tuesday. The session started at 1.1052 and finished only 6 pips lower. Tip of the day was recorded at 1.1077 but overall the upward movement was hampered by the failure to overcome resistance at 1.1080. In the case that the direction of movement continue to move up, we can expect another attempt to test the first resistance.