Eur/usd - page 442

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Yesterday EURUSD tried to rally but found enough yet again enough resistance at 1.1164 the 10-day moving average to turn around and close near the low of the day however managed  to close within the previous day range, which suggests being  slightly on the bearish side of neutral.

 

The pair is trading below the 10 and the 50-day moving averages that are acting as dynamic resistances although still trading above the 200-day moving average that is acting as a dynamic support.

 

The key levels to watch are:  A daily resistance at 1.1237, the 10-day moving average at 1.1164 (resistance), a swing low at 1.1141 (resistance), a daily support at 1.1097 and the 200-day moving average at 1.1070 (Support).

 
Euro/Dollar attempted to rise higher yesterday, topped at 1.1173 but dropped down after, it closed lower at 1.1130 and hit 1.1113 earlier this morning. Trading signals remain down for testing the lower line of the bullish channel and 1.1100 - 1.1050 area. On the upside, key intraday resistance remains at 1.1180 (200 day EMA). A clear break and daily close above this level could trigger further bullish pressure testing 1.1250 or higher. On the downside, a clear break and daily close below 1.1050 would reactivate its bearish pattern with targets near 1.0800.
 
The euro fell against the US dollar on Tuesday to 1.1132, shedding 0.06%. Support is now at around 1.1096 - Monday's low, and resistance is likely to make the level of 1.1218 - maximum of Thursday.
 
Today, the dollar fluctuates slightly below the maximum of two months to a basket of major currencies after a series of mixed economic data from the United States a little tempered expectations Fed rate to rise in the near future. The euro weakened 0.1 percent to $ 1.1119, staying above the minimum of 2.5 months set on Monday.
 
On Wednesday, the dollar is lower against other major currencies as well as mixed US economic reports that were released in the previous session, continue to put pressure on the dollar. Ambiguous data prompted investors to slightly revise expectations for timing the next Fed rate increase. The EUR/USD rose 0.24% to 1.1159.
 
The EUR/USD marks a somewhat positive day today up about 30 pips to currently trade at 1.1160. Market sentiment remains to be bearish with the latest commentary from FED Chair Janet Yellen to raise rates gradually. First resistance is seen at 1.12, first support is seen at 1.11.
 

Ahead of the US data on Wednesday the euro started to move higher and nearing 1.12 level. The pair coudn’t break the key level at 1.1226, but should the momentum continue, the resistance could be overcome soon. Support is now located at 1.1069, 1.0998.

 

Yesterday EURUSD rose with a wide range and close near the high of the day, in addition managed to close above the previous day high, which suggests a strong bullish momentum.

 

The pair is trading below the 50-day moving average that are acting as dynamic resistance however it closed above the 10-day moving average and still trading above the 200-day moving average both are acting as a dynamic support.

 

The key levels to watch are:  The 50-day moving average at 13.08 (resistance), a daily resistance at 1.1237, the 10-day moving average at 1.1160 (support), a daily support at 1.1097 and the 200-day moving average at 1.1070 (Support).

 
The euro rose against the dollar on Wednesday. The single currency met the expectations and gained ground against the dollar. The breakthrough on the key level at 1.1226 was postponed, but if the momentum continues, the resistance will be overcome soon. Wednesday session was open to a rate of 1.1131, and the finale was put 56 pips higher. The trend was bullish, the peak of the day was at 1.1193.
 

EUR/USD: Euro Back Below $1.12 After ECB Decision Amid Draghi


The single currency was trading off daily highs and was seen flattish against the US dollar, trading near daily lows at $1.1185.

Earlier in the day, the European Central Bank (ECB) left monetary policy unchanged as the main refinancing rate stayed at 0.0%, while the deposit rate was kept at -0.4%.

The ECB further advised today that starting on June 22, it will conduct the first operation in its new series of TLTROs.

More volatility might come during Mario Draghi's presser, which is ongoing.

"We anticipate that Draghi will reiterate that interest rates can go lower (including deposit facility rate) and that further micro tuning of lending facilities is possible - comments that should keep the spectre of easing alive and the euro on back footing. Our view is in contrast to speculation that the ECB has an incentive to signal a pause in cuts," Peter Rosenstreich, chief fx analyst at Swissquote bank, said on Thursday.

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