Eur/usd - page 584
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On yesterday session, the EURUSD fell with a wide range after Fed interest rate decision and closed near the low of the day, in addition the currency pair managed to close below Tuesday’s low, which suggests a strong bearish momentum.
The currency pair is trading below the 10 and 50-day moving averages that should provide dynamic resistance however is trading above the 200-day moving average that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.1753, a key level at 1.1684 (resistance), the 10-day moving average at 1.1673 (resistance), the 1st head and shoulders target at 1.1593 (support), a daily support at 1.1558 and other daily support at 1.1460.
EUR/USD is slightly up today, but yet the short term outlook remains neutral.
After hitting the weekly high yesterday at 1.1687, EUR/USD is consolidation this morning. All eyes on NFP later on today.
On yesterday session, the EURUSD initially rallied with a wide range but found enough resistance 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 managed to close within Wednesday’s range, which suggests being clearly neutral, neither side is showing control.
The currency pair is trading below the 10 and 50-day moving averages that should provide dynamic resistance however is trading above the 200-day moving average that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.1753, a key level at 1.1684 (resistance), the 10-day moving average at 1.1665 (resistance), the 1st head and shoulders target at 1.1593 (support), a daily support at 1.1558 and other daily support at 1.1460.
The euro / dollar had a moderate ascending momentum yesterday, forming a peak at 1.1687. The views are bullish for testing at 1.1725 / 50. But the longer the price stays below 1.1900, the downward reversal scenario of the head and shoulders remains intact and any upward pressure should be seen as a good sales opportunity. Immediate support is 1.1625. A clear breakthrough below this level may take the price to a neutral zone with testing at the 1.1575 level. A clear breakthrough and daily / weekly closure below will open the doors in front of the bear to 1.1450.
The euro rose against the US dollar on Friday morning. During Asian trading, EUR / USD was trading at 1.1661, gaining 0.03%. I believe that support is now at 1.1594, Monday's low, and resistance is likely at 1.1687, Thursday's high.
The euro fell against the US dollar on Friday. By the close of US trading, EUR / USD is trading at 1,1605, losing 0.45%. I believe that support is now at 1.1594, Monday's low, and resistance is likely at 1.1690, the high of Friday's trading.
EUR/USD edged the week flat around 1.16. Indicators are showing breaish signs, so the upcoming week will srart with testing the first support at 1.1574.
On Friday, the rate of the US dollar went to growth after the release of reports on the volume of industrial orders in the US and business activity in the services sector, which made investors forget about the weaker earnings report in the United States than in the forecast.
At the end of trading on Friday, the euro was down against the dollar. The EUR / USD slipped 0.45% to hit 1,1605.
Next week, investors will continue to monitor progress in US tax reform, but from the standpoint of economic reports, this will be a relatively quiet week.
While Eur/Usd remains bearish, short term looks neutral and lack of directional strength. Immediate support level can be found around 1.5720, further decline if the pair break below it.