On yesterday session, the EURUSD went
back and forward without any clear direction and closed in the middle of the
daily range, in addition managed to close within Wednesday’s range, which
suggests being clearly neutral, neither side is showing control.
The currency pair is trading above
the 10, 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a daily
resistance at 1.1558, other daily resistance at 1.1460, the 10-day moving
average at 1.1395 (support), a Fibonacci retracement at 1.1302 (support) and a
daily support at 1.1237.
On Thursday, the euro lost another 13 pips to the dollar. The day's start was at 1.1410, and the rate was rising steadily and was over the resistance at 1.1440, recording a peak at 1.1455. There was a strong movement for the bears and the currency pair traded for 1.1370. At the end of the day one euro was exchanged for 1.1397 dollars.
The euro / dollar did not make a substantial move yesterday. The signals are neutral for the time being, probably with light bears signals. But as a whole, I stay in the Bulls camp and every downward pressure can be seen as a good opportunity for long positions. We have an interesting fact, as you can see on the four-hour chart, where the H4 EMA 200 provides valid and strong support during the upward rally. And now it also provides us with a good place to buy localized in the 1.1285 area. The first resistance is at 1.1455, whose breakthrough can cause further rallying up for testing at 1.1500 - 1.1530 or higher. Downwards, a clear breakthrough and a daily closure below 1.1285 will disrupt the ascending views.
Key levels to watch for:
Support: 1.1360; 1.1256;
Resistance: 1.1440; 1.1533.
The euro rose against the US dollar on Friday. By the close of US trading, EUR/USD was trading at 1.1469, gaining 0.62%. I believe that support is now at 1.1369, Thursday's low, and resistance, probably, will be at level of 1.1491 - the maximum of Wednesday.
marked a 14-month high on Friday, reaching 1.1473 and closed the week at
1.1469. The pair will face next week resistances at 1.1490 and 1.1525, while
supports are located at 1.14 and 1.1355.
Today the EUR/USD is hovering around 1.1470, but couldn’t find enought strength to
conquer the important 1.1490 mark. However indicators are keeping their bullish
momentum, so we may witness another test of this level during next hours.
EUR/USD rallied yesterday to 1.1582, highest level since May
2016, but retreated modestly before closing. The outlook remains bullish with
next target seen at 1.1615.
I think there are a lot of events happening in the market today. I have read a lot of news that one of major contributors with the movement of the currency pair is the interest hike. But if you are interested, you can read ore of this as I am also in monitor with it. European News