Eur/usd - page 363
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On Friday session the single currency recorded a slight decline against the dollar on Friday and lost 63 pips. The session started at a price of 1.0937. The data on unemployment in US for November was crucial. The price bounced back, but at the end of the session the pair ended in red at a price of 1.0874.
On Friday session the EURUSD initially rose but found enough resistance above the 50-day moving average to turn around 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 topped out.
The 50-day moving average is pushing the currency down acting as a strong resistance.
The key levels to watch are the 1.1097 (resistance), a 200-day moving average at 1.1078 (resistance), the 50-day moving average at 1.0931 (resistance), 1.0900 (resistance) and 1.0819 (support).
EUR/USD is moving to the support level but after the spike the movement will be slow, I will wait for confirmation to break 1.0800 before opening a position.
On Friday session the EURUSD initially rose but found enough resistance above the 50-day moving average to turn around 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 topped out.
The 50-day moving average is pushing the currency down acting as a strong resistance.
The key levels to watch are the 1.1097 (resistance), a 200-day moving average at 1.1078 (resistance), the 50-day moving average at 1.0931 (resistance), 1.0900 (resistance) and 1.0819 (support).Good to know that, I will keep an eye on it, thank you.
The single currency recorded a modest decline against the dollar on Monday, losing 37 pips. The pair recorded a volatile session and managed to break through the first support at 1.0854. The graphics continues to develop over moving averages, while the relative strength index remained in neutral territory. If the bearish trend continues, the pair will try to break the next support at 1.0676.
Yesterday the EURUSD fell with a narrow range and close in the middle of the daily range but below the previous day range, suggesting a mildly bearish to a ranging tone.
Yesterday the pair held the daily support at 1.0819 and a close above the 50-day moving average would set the bullish tone for the next days.
The key levels to watch are the 1.1097 (resistance), a 200-day moving average at 1.1078 (resistance), the 50-day moving average at 1.0902 (resistance), 1.0900 (resistance) and 1.0819 (support).
EUR/USD: Euro Trades Off Daily Highs GDP in the euro zone decreased from 0.4% to 0.3% quarter-on-quarter, while the yearly change improved to 1.6% from 1.5% previously, final readings released by Eurostat showed on Tuesday.
The reaction was not volatile and the EUR/USD pair was spotted trading off daily highs around $1.0860, with further gains possible, if the resistance around $1.0880 gets cleared.
In the previous session, German industrial production in October improved notably and printed 0.2%, up from -1.1% previously. On a yearly basis, the data worsened from increasing 0.4% a month earlier to booking no change. Both figures were below market estimates.
"Last week's daily and weekly reversal could well signal a turnaround for the euro with the low potentially in place. We need to hold above 1.0800 to avoid a retest of 1.0720 but ultimately could well be set for a move through 1.1000 on the way back towards 1.1120," Michael Hewson, chief market analyst at CMC Markets UK said on Tuesday.
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Goldman Sachs still expect parity in EUR/USD
The forex strategists of Goldman Sachs revised upwards their forecast for the euro, but still expect it to reach parity with the dollar in the next 12 months.
From Goldman Sachs reviewed quarterly expectations for EUR/USD of $1.02 to $1.07, semi - from $1.00 to $1.05, and 12-month - from $0.95 to $1.00.
EUR/USD rebounded from yesterday low and failed to break 1.0800 now it is testing resistance level 1.0900 still I dont see an appropriate entry point. until price close over 1.0900 or under 1.0800
Morgan Stanley: Sell EUR/USD after the Fed meeting.