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May 17 2016 at 04:11
675 posts
The single currency recorded slight increase against the dollar on Monday, breaking a two-day negative series. The pair moved within a narrow range with extreme values reached at 1.1341 and 1.1301, and finally the euro rose 11 pips to a closing price of 1.1319. Index relative strength develops in negative territory as the price remains limited by the resistance at 1.1350 and moving averages upwards.

May 17 2016 at 08:21
708 posts
The single currency rose against the dollar on Monday to 1.1322 or with a growth of only 0.09%. The pair is in a narrow range in anticipation of inflation data in the US today, which could present a clearer picture of the future of the US economy.

honeill (honeill)
May 17 2016 at 08:32
1141 posts
Yesterday EURUSD initially rose but found enough selling pressure at the 50-day moving average to give back some of its gains but closed in the green, although near the low of the day, but managed to close within the Fridays range, suggesting being slightly on the bearish side of neutral.

The pair is trading below the 10 and the 50-day moving averages that are acting as dynamic resistances although still trading above the 200-day moving average that is acting as a dynamic support.

The key levels to watch are: Daily resistance at 1.1459, the 10-day moving average at 1.1367 (resistance), the 50-day moving average at 1.1333 (resistance), a daily support at 1.1237, a swing low at 1.1141 (support) and a daily support at 1.1097.

"I trade to make money not to be right."
May 17 2016 at 08:46
708 posts
Today the attention of traders will be focused on data on inflation in the UK and the US. Later, three representatives of the US Federal Reserve will make their statements. The day will be difficult for the single currency, as in Asia the pound and the Australian dollar strengthened considerably to all currencies.

May 17 2016 at 10:26
421 posts
On Monday the euro/dollar was in a correctional phase during the day. The euro rebounded against the US dollar to a mark of 1.1342 after declining manufacturing activity in New York to minus 9.02 vs. the forecasts of 6.50 plus. By the close of the trading day the couple returned to the level of 1.1315.

May 17 2016 at 12:12
708 posts
Key levels to watch for:
Support: 1.1280; 1.1215; 1.1150;
Resistance: 1.1350; 1.1465; 1.1620.


arigoldman (arigoldman)
May 17 2016 at 14:22
907 posts
Let's wait until tomorrow's FOMC.

May 17 2016 at 14:33
277 posts
EUR/USD is trading at 13.36, slightly changed from yesterday's levels. Traders and investors are expecting tomorrow's FOMC Meeting so low volatility can be expected.

May 17 2016 at 14:50
421 posts
On Tuesday, the dollar is stable against other major currencies, as investors remained cautious ahead of a string of US economic reports, which will be released later today. Investors are preparing for release later in the session US data on the housing sector, consumer prices and industrial production in the search for further instructions on the strength of the US economy. The EUR/USD is stable at 1.1324.

May 17 2016 at 16:14
1117 posts
EUR/USD found some support at 1.1280 and formed a spinning top candlestick above that level on the daily time-frame, so we might see a move to the upside, but I doubt anything major will happen before the fundamentals tomorrow.

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