Eur/usd - page 572
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EUR/USD is facing first supprot at 1.1814, followed by 1.1710 and 1.1662. Looking to the upside, a break above 1.1905 would enforce bulls towards 1.2069 and higher at 1.2167.
Tomorrow is Friday 1 September 2017. It's NonFarm. Most likely, there will be an attempt to overcome the weekly maximum of 1.2070. This is the maximum price for the last 30 months. But personally, I will not participate in this. I do not know how to trade when competition extremes. I better get to trade in the flat: here I can average, if I opened the position in the wrong direction.
On yesterday session, the EURUSD initially fell but found enough support at 1.1829 to trim all its losses and managed to close near the high of the day, although the currency pair closed within Wednesday’s range, which suggests being slightly on the bullish side of neutral.
The currency pair continues 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 1.2115, other daily resistance at 1.2041, a daily resistance at 1.1910, the 10-day moving average at 1.1889 (support), a daily support at 1.1829, and a daily support at 1.1753.
Tomorrow is Friday 1 September 2017. It's NonFarm. Most likely, there will be an attempt to overcome the weekly maximum of 1.2070. This is the maximum price for the last 30 months. But personally, I will not participate in this. I do not know how to trade when competition extremes. I better get to trade in the flat: here I can average, if I opened the position in the wrong direction.
Now September 1, 2017, Friday, 15:40 in Kiev. 10 minutes ago, the expected news on unemployment in the US (NonFarm): As you can see, the fact = 156K, and the forecast = 180K. That is, the fact was worse than the forecast for USD at 24K. So the price should move against USA, that is EURUSD - up. And indeed, on the chart, we see the price first went up by 60 points, and now it is consolidating. Usually, significant movements occur if the NonFarm turns out to be greater than 200K. Since we now have 156K, we should not expect significant movements for EURUSD.
Last week the EUR/USD pair did an amazing rally and hit a two year high at 1.2070, but afterwards sharply dropped to 1.19. The greenback sank on Friday after Bloomberg dropped headline that the ECB will probably delay tapering QE beyond September, which is responsible for the rally and thus the expectations of the market participants were poured with cold water.
The key support area for next week is locatd at the 1.1790/1.1820 area, while first resistance is seen at 1.1920, next at 1.1960 and higher at 1.2030.70 region.
It seems that the week ahead will be very intersting amid the political turmoil today from North Korea and Trump’s response on twitter. From Europe we have ECB monetary policy meeting. Anyway my favourites will be the Swiss Franc and Gold.
On the last Friday’s session the EURUSD tried to rally but found enough resistance at 1.1976 to erase all its gains and managed to close near the low of the day, however the currency pair closed within Thursday’s range, which suggests being slightly on the bearish side of neutral.
The currency pair closed below the 10-day moving average that should provide dynamic resistance however is still trading above the 50 and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.2041, other daily resistance at 1.1976, a daily support at 1.1910, the 10-day moving average at 1.1908 (support), other daily support at 1.1829 and a daily support at 1.1753.
On yesterday session, the EURUSD initially rose but found enough selling pressure near the 10-day moving average to trim some of its gains and closed in the middle of the daily range, in addition 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-day moving average that should provide dynamic resistance however is still trading above the 50 and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.2041, other daily resistance at 1.1976, a daily support at 1.1910, the 10-day moving average at 1.1905 (resistance), other daily support at 1.1829 and a daily support at 1.1753During the last two days the bulls calmed down and the EUR/USD pair is seen in conslidation around 1.1890 level. All eyes on ECB today with no positive expecations for the single currency.