Eur/usd - page 628

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Euro / dollar attempted to rise yesterday, reaching peak at 1.1724, but then dropped and closed lower at 1.1666. Trade signals are neutral for now, probably with slight downside signals for testing 1.1620. A clear breakthrough and daily closure below this level would have to take the price of a retest of key support 1.1530. On the upside, the 1.1733 - 1.1785 area remains an important resistance and a good place for short positions with narrow stops above 1.1785. A clear breakthrough over this zone will activate my upward model with the nearest bull target in the 1.1850 - 1.1900 range.
 
It looks like EUR/USD is forming a sideways range between 1,1520 and 1,1720.
 

EUR/USD: Bulls need a convincing break above 1.17


At press time, the pair is trading at 1.1684, having faced rejection above 1.17 three times in the last four trading days. As a result, the immediate bullish outlook is likely neutralized.


The failure to scale the psychological level of 1.17 in a convincing manner is likely associated with the rising Treasury yields and the widening US-De (German) two-year yield spread. As of writing, the 10-year treasury yield is trading 3.06 percent, having clocked a two-month high of 3.10 percent yesterday. Meanwhile, the two-year US-DE (German) yield spread is seen at 333 basis points, the highest level since 1989.


EUR/USD Technical Levels

Resistance: 1.1724 (Sept. 18 high), 1.1791 (July 9 high), 1.1852 (June 14 high)

Support: 1.1664 (5-day moving average), 1.1640 (200-hour moving average), 1.16 (psychological support)

 

On yesterday session, the EURUSD i went back and forward without any clear direction, however, closed in the middle of the daily range, in addition, managed to close within Tuesdays’ range, which suggests being clearly neutral, neither side is showing control.

 

The currency pair is trading above the 10 and the 50-day moving averages, that should provide a dynamic support, nonetheless, it continues to trade below the 200-day moving averages that should provide dynamic resistance.

 

The key levels to watch: daily resistance at 1.1753, a key level at 1.1684 (resistance), the 10-day moving average at 1.1648 (support), the 50-day moving average at 1.1585 (support), a daily support at 1.1555, other daily support at 1.1459.

 

On yesterday session, the EURUSD rallied with a wide range and closed near the high of the day, in addition, managed to close above Wednesday’s high, which suggests a strong bullish momentum.

 

The currency pair is trading above the 10 and the 50-day moving averages, that should provide a dynamic support, nonetheless, it continues to trade below the 200-day moving averages that should provide dynamic resistance.

 

The key levels to watch: The 200-day moving average at 1.1917 (resistance), key level at 1.1915 (resistance), daily resistance at 1.1829, daily support at 1.1753, a key level at 1.1684 (support) and the 10-day moving average at 1.1648 (support).

 
The euro / dollar had a strong upward momentum yesterday, forming a peak at 1.1784. The price slid over the EMA 200 after breaking over the trend line of resistance. This suggests a critical technical situation for bears where a clear break above 1.1785 will activate my bullish model with targets in the 1.1850-1.1900 area. The signals are upward in a near perspective. First support is at 1.1730. A clear break below this level may take the price to a neutral zone, but it will confirm the 1.1785 region as a strong resistance that must be clearly breached before reaching higher levels.
 
The euro fell against the US dollar on Friday. By the close of US trading, EUR / USD was trading at 1.1749, losing 0.24%. I believe that support is now at around 1.1617, Monday's low, and resistance is likely at 1,1803, the high of Friday's trading.
 
EUR/USD: Next target: 1.1700.
 

On the last Friday’s session, the EURUSD tried to rally but found enough resistance near 1.1795 to reverse and close near the low of the day, although, managed to close within Thursday’s range, which suggests being slightly on the bearish side of neutral.

 

The currency pair is trading above the 10 and the 50-day moving averages, that should provide a dynamic support, nonetheless, it continues to trade below the 200-day moving averages that should provide dynamic resistance.

 

The key levels to watch: key level at 1.1915 (resistance), the 200-day moving average at 1.1910 (resistance), daily resistance at 1.1829, daily support at 1.1753, a key level at 1.1684 (support) and the 10-day moving average at 1.1699 (support).

 
EURUSD broke the 1.1790 res for a second time and is now back below it. Interesting to see how the week unfolds.
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