Eur/usd - page 359
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The single currency recorded neutral session against the dollar on Thursday. Trading was extremely quiet, as the opening price was similar to the closing, respectively, 1.0623 and 1.0609. In the early hours bears prevailed, but later losses were compensated. So the difference between the highest and lowest value for the day was 27 pips. If negative sentiment continue, we may expect break of support level at 1.0565.
Yesterday the EURUSD fell with a narrow range, creating an inside day, due to the Thanksgiving holiday and closed near the low of the day, suggesting a potential pullback for today.
The 10-day moving average continues to push the currency down acting as a strong resistance.
The key levels to watch are the 1.0819 (resistance), a Fibonacci extension at 1.0703 (resistance), the 10-day moving average at 1.0643 (resistance), 1.0622 (Support), and 1.0462 (support).
In my opinion, the next supports will be at 1.0565 and 1.0517.
1.0565 proved today to be a good support for the EUR/USD, But let us see if next week going to be more beneficial and hopefully it will continue to decline.
Almost no movement today on the EUR/USD only 15 pip movement till now.
EUR/USD: Euro Ends Near 7-Month Lows in Calm Week The previous week was very calm, mainly due to fewer trading days and the EUR/USD pair remained within a 100 pips range. However, it closed the week 0.50% lower, losing 53 pips and ending at $1.0580.
The week started with some euro zone macro figures. Monday brought the purchasing manager's indices (PMI) and the data were all better than expected, with the exception of a concerning number about France's services sector.
The French manufacturing PMI for November slightly improved to 50.8 from 50.6 previously, while the services gauge notably declined to 51.3 from 52.7. Meanwhile, the German services gauge increased to 55.6 from 54.5, while the manufacturing PMI moved higher to 52.6 from 52.1 in October.
The euro zone services PMI for November jumped to 54.6 from 54.1 and the manufacturing index ticked higher to 52.8 from 52.3 previously. However, the euro didn't react to the numbers.
On Tuesday, the German GDP for Q3 slowed to 0.3% from 0.4%, while the yearly print improved to 1.8% from 1.6% booked in Q2. Moreover, the German Ifo business climate for November improved to 109.0 from 108.2, the current assessment gauge climbed to 113.4 from 112.7,and the expectations subindex ticked higher to 104.7 from the 103.9 booked in October.
EUR/USD forecast for the week of November 30, 2015 The EUR/USD pairinitially tried to rally during the course of the week, but then turned around to form a bit of a shooting star. The shooting star of course is a negative sign, and it now seems as if we are going to reach towards the 1.05 handle. A break down below there could open the door to the parity level, but quite frankly the one thing that we know we are not going to do is buy this pair. We feel that the resistance above from the previous ascending trend line should continue to put quite a bit of pressure on this market.
Good move last week.
On Friday session the single currency didn;t mark any significant change against the dollar. The euro ended the session at 1.0598, which technically was the third consecutive negative performance and led EUR/USD to the red territory for the week. Current attitudes remain negative, but a break of the support at 1.0520 will give a chance for testing levels at 1.0460. Very imporatnat fundamentals this week will influence the pair – the meeting of the ECB and labor market data from the US.
On Friday session the EURUSD went back and forward with a narrow range and closed in the red near, in the middle of the daily range also closing within previous day range, suggesting that the pair turn into a consolidation mode and maybe bottom out.
The 10-day moving average continues to push the currency down acting as a strong resistance.
The key levels to watch are the 1.0819 (resistance), a Fibonacci extension at 1.0703 (resistance), the 10-day moving average at 1.0629 (resistance), 1.0622 (Support), and 1.0462 (support).