Eur/usd - page 355
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It looks like the next support is 1.0548.
EUR/USD is trading around the opening price, inverted hammer is forming on the daily chart.
EUR/USD flat after Fed minutes provide clues of likely rate hike EUR/USD was relatively unchanged on Wednesday after the minutes from the Federal Open Market Committee's October meeting showed that the majority of the committee's participants appear ready to raise interest rates when it meets again in mid-December.
The currency pair traded in a tight range between 1.0617 and 1.0692 before settling at 1.0659, up 0.0016 or 0.15% on the session. The euro closed under 1.085 against the dollar for the eighth consecutive session in spite of halting a three session losing streak. Over the last month of trading, the euro has fallen more than 6% against its American counterpart as the pair steadily moves toward parity.
EUR/USD likely gained support at 1.0519, the low from April 13 and was met with resistance at 1.1496, the high from Oct. 15.
As expected, the FOMC held its benchmark Federal Funds Rate at a near-zero level at both of its meetings this fall following China's unexpected decision to devalue the yuan in late-August. At a critical meeting in September, the FOMC voted 9-1 to hold the rate between zero and 0.25%, amid significant concerns abroad. Last month, though, the FOMC noted that nearly all of its participants were in agreement that the global financial risks had diminished over the prior few weeks, the minutes showed. Investors have been awaiting a move for months since the Fed ended a comprehensive Quantitative Easing program last fall aimed at jumpstarting the U.S. economy. The rate has remained near zero since December, 2008 at the height of the Financial Crisis.
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On Wednesday session the single currency recorded a light increase against the US dollar.The pair opened at a price of 1.0640 and after a volatile session closed at a rate of 1.0658. Daily extreme values were reached respectively at 1.0617 and 1.0692. The positive outlook still prevails, but for further gains is needed breakthrough of 1.0676.
Yesterday the EURUSD went back and forward with a wide range, creating an outside day but managed to close in the green in the middle of the daily range.
According to the US Federal Reserve (Fed) policymakers latest meeting, a potential increase of the interest rate is on the table for the next Fed meeting on 16[SUP]th[/SUP] of December.
The key levels to watch are the 1.0900 (Resistance), 1.0819 (resistance), the 10-day moving average at 1.0721 (resistance), a Fibonacci extension at 1.0703 (resistance) and 1.0622 (Support).
In my opinion, parity will be reached when FED raises the interest rates.
It is a correction and 1.0800 may be the next level, and seems that there is a positive expectation for Draghi's speech in Friday.
EUR/USD made a correction from 1.065 level, I don't see further correction until price break 1.0728 and close above it on the 4 hour chart.
On Thursday session the single currency recorded an increase against the US Dollar. The session started at 1.0658 and ended 74 pips higher. The bulls prevailed and the first resistance at 1.0676 was broken. Expecting further increase of the euro and a break of next resistance at 1.0854.
Yesterday the EURUSD rose with a wide range and closed in the green near the high of the day, shy above the 10-day moving average. The question is if the pair has enough strength to follow thru the upward momentum.
The key levels to watch are the 1.0900 (Resistance), 1.0819 (resistance), the 10-day moving average at 1.0719 (resistance), a Fibonacci extension at 1.0703 (support) and 1.0622 (Support).