Eur/usd - page 364
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The EUR/USD heading to 1.1000 level but the resistance at 1.0900 was not easy to break today. My eyes wide open waiting for the breaking over this resistance.
The single currency recorded an increase against the dollar on Tuesday. The session started at 1.0836 and ended 54 pips higher. After steady upward movement the price managed to break the first resistance at 1.0854. If the pair justify the positive expectations, the price will continue its upward movement.
Support: 1.0854; 1.0676; 1.0548; Resistance: 1.0975;
Yesterday the EURUSD rose with a narrow range and close near the high of the day plus above the previous day high, suggesting a strong bullish momentum for today.
Today we should pay attention to the close and a potential close above the 50-day moving average would set the bullish tone for the couple of days.
The key levels to watch are the 1.1097 (resistance), a 200-day moving average at 1.1079 (resistance), the 50-day moving average at 1.00894 (resistance), 1.0900 (resistance) and 1.0819 (support).
that was a good rally, from 1.0900 and now price is testing 1.100 I closed my position to be sure and I will wait for an entry over 1.1050.
Nice rally indeed today for the EUR/USD, I see that the next level to be tested is the 1.1100 tomorrow.
On Wednesday session the single currency recorded strong growth against the US dollar. The session started at 1.0890 and ended at 1.1024. The daily extremes were 1.0878 and 1.1041. If the upward trend continues, we may expect a test of the first resistance at 1.1106.
Yesterday the EURUSD rallied with a wide range and close near the high of the day plus above the previous day high, suggesting a strong bullish momentum.
The pair closed above the above the 50-day moving average on a strong move but a second close would show a confirmation of the phase change, going from bearish to a recovery phase.
The key levels to watch are the 1.1097 (resistance), a 200-day moving average at 1.1081 (resistance), the 50-day moving average at 1.0888 (support), 1.0900 (support) and 1.0819 (support).
EUR/USD: Fundamentals Vs Position Adjustment - BTMU The clear out of short positions has exacerbated the move higher for the euro in the near-term beyond justified by the relative economic fundamentals alone, notes Bank of Tokyo Mitsubishi (BTMU).
"The renewed slide in commodity prices and the renminbi has also contributed to more risk-averse trading conditions in the near-term supporting further position liquidation and the euro.
Long speculative US dollar positions are being lightened as well ahead of the upcoming FOMC meeting as the market is fearful that the Fed will deliver a “dovish” communication surprise should it over compensate for the first rate hike since June 2006.
Still the US dollar has already weakened in advance of the FOMC meeting and the US interest rate market is already discounted very limited tightening in the coming years both of which provide a higher hurdle for US dollar weakness to extend much further in the near-term," BTMU adds.
BTMU is neutral on EUR/USD at current levels and sees the pair trading in a 1.0750-1.1150 range in the near-term.
The EUR/USD fell today after testing the 1.1050 resistance level also the US Retail Sales (Nov) expectations is higher than the last month, so i think that the pair will continue the decline.