Eur/usd - page 365
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EUR/USD failed to stay above 1.100 and rebounded. price will continue dropping till support line.The only two possible rebound points which can stop the price I see are 1.0900 and 1.0870.
On Thursday, the euro recorded a decrease against the US dollar. The session started at 1.1024, but afterwards followed downtrend and the pair ended at 1.0939. The graphics continue to develop above the moving averages, while the index of relative strength remained at neutral territory. If the pair meet negative expectations, as expected, the downward trend will continue.
EUR/USD: Euro Drifts Higher, Set to Retest $1.10
The greenback was seen somewhat weaker on Friday and the EUR/USD pair traded around $1.0960 during the early Friday session.
The immediate trend remains bullish for the euro, reinforced by the USD/JPY pair remaining below the key technical resistance of ¥122.30.
Meanwhile, German CPI month-on-month increased by a notch in November, from 0.0% to 0.1%, while the yearly gauge also perked up from 0.3% to 0.4%. HICP indices also accelerated by 0.1%. Despite this growth, inflation in the biggest economy of the euro zone remains miserable.
Later in the day, finally some US data will be published. Retail sales for November are projected to improve from previous levels, while PPI indices should also notably accelerate, which might offer some support for the greenback.
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EUR/USD rebounded back to over 1.100, price need to close above this level for the week.
Great day for the euro on Thursday!
Fibonacci 1.1032 was strong resistance today to the EUR/USD and the price fell under the 1.1000 level. I will see what the FED will decide next week.
Yesterday the EURUSD fell with a narrow range and close near the low of the day plus within the previous day range, suggesting a consolidation for day.
The pair is closed for a second day above the 50-day moving average confirming 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 1.1082 (resistance), the 50-day moving average at 1.0877 (support), 1.0900 (support) and 1.0819 (support).
So this week looks promising.
I wonder if there will be surprises next week...
In my opinion, the next target will be 1.0900.