Eur/usd - page 544
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EUR/USD has turned to bearish mode and the uptrend for now seems to be limited. The pair has surpassed the important 50-day moving average last week and the bears are now aiming the 61.8% Fibonacci level at 1.0555. The bearish case might be compromised only above the resistance at the 38.2% Fibonacci level at 1.0685.
EUR/USD failed to stay above the 1.06 handle and has entered in consolidation phase. Same level remains strong resistance while first support is seen at 1.0568 and lower at 1.0535.
On yesterday session, the EURUSD went back and forward without any clear direction but closed in the green, in the middle of the daily range, however the currency pair closed within Friday’s range, which suggests being clearly neutral, neither side is showing control.
The currency pair is trading below the 10, the 50 and 200-day moving averages that should provide dynamic resistance.
The key levels to watch are: the 50-day moving average at 1.0652 (resistance), the 10-day moving average at 1.0641 (resistance), a daily resistance at 1.0622, a Fibonacci retracement at 1.0584 (support) and other Fibonacci retracement at 1.0527 (support).
EUR/USD is flirting with 1.06 level and is offering no indications for strong direction change. Amid the uncertainty around French elections , the single currency may not push higher.
On yesterday session, the EURUSD again went back and forward without any clear direction but closed in the green, in the middle of the daily range, however the currency pair closed within Monday’s range, which suggests being clearly neutral, neither side is showing control.
The currency pair is trading below the 10, the 50 and 200-day moving averages that should provide dynamic resistance.
The key levels to watch are: the 50-day moving average at 1.0652 (resistance), the 10-day moving average at 1.0634 (resistance), a daily resistance at 1.0622, a Fibonacci retracement at 1.0584 (support) and other Fibonacci retracement at 1.0527 (support).
1.072 area is a very important resistance, we exclude a breakout of that barrier in the short-term. 1.067 support level breached: as we wrote in the previous commentaries, a breakout of 1.062 can lead down to 1.056. And this is happening right now.
Weekly Trend: Neutral
1st Resistance: 1.0619
2nd Resistance: 1.0679
1st Support: 1.0560
2nd Support: 1.0506
On yesterday session, the EURUSD rallied with a wide range and closed near the high of the day, in addition managed to close above Tuesday’s high, which suggests a strong bullish momentum.
The currency pair closed above the 10 and the 50-day moving averages that should provide dynamic support and is trading below the 200-day moving average that should act as dynamic resistance.
The key levels to watch are: a Fibonacci level at 1.07132 (resistance), the 50-day moving average at 1.0653 (support), the 10-day moving average at 1.0635 (support), a daily support at 1.0622, and a Fibonacci retracement at 1.0584 (support).
EUR/USD posted fresh high at 1.0676 this morning, but retreated later to currently trade at 1.0640. This area is vunerable for the pair, as provides chance for further slide towards the 100-day SMA at 1.0625, below which retest of 1.0600 mark is expected.
EURUSD Monthly & Weekly support and resistance
1.0620 very important level for this week
On yesterday session, the EURUSD fell with a narrow range and close near the low of the day, however the currency pair closed within Wednesdays range, which suggests being slightly on the bearish side of neutral.
The currency pair closed below above the 10 and the 50-day moving averages that should provide dynamic resistance and is also trading below the 200-day moving average that should act as dynamic resistance.
The key levels to watch are: a Fibonacci level at 1.07132 (resistance), the 50-day moving average at 1.0654 (resistance), the 10-day moving average at 1.0631 (resistance), a daily support at 1.0622, and a Fibonacci retracement at 1.0584 (support).