but will start not in very long to consolidate ,macd is about to enter negative zone on h4,before going down again,wicth will be good to those with already opened positions in dd or to enter new short positions
Eurozone industrial poduction down. GDP of Germany fell. And decent US retail numbers (mostly better than expected). It has not much data to support futher Euro strengthing in todays numbers. CSI and buisness inventories in half hour mark the end of the US driven data for this week. Tomorrow we have the Eurozone trade balance.
The euro is losing ground against the dollar on Friday session. Thus the couple remained in the well known range between 1.1387 and 1.1191. If the dollar justify the positive expectations, the support will broken. The session on Friday started at 1.1321 as bearish sentiment prevailed throughout. Bottom of the day was hit at 1.1214 and the session closed with 40 pips higher.
On the last Friday’s session the EURUSD fell with a wide range and closed in the red, near the low of the day, in addition managed to close below the previous day low, suggesting a strong bearish momentum.
The pair continues to close above the 10, 50 and the 200-day moving averages that are acting as dynamic support.
The key levels to watch are: The daily resistances at 1.1555, other daily resistance at 1.1460, daily support at 1.1237, other daily support at 1.1097, the 10-day moving average at 1.1183 (support) and the 200-day moving average at 1.1025 (support).
The pair reached the support at 1.1125 and bounced off of it but it's possible this isn't the end of the move to the downside. The next support is at 1.1110, if EUR/USD manages to break below that level it may fall all the way to 1.1030.
Yesterday the EURUSD fell with a wide range and closed near the low of the day, in addition managed to close below previous day low, suggesting a strong bullish momentum.
The pair closed below the 10-day moving average however is still trading above the 50 and the 200-day moving averages that are acting as dynamic support.
The key levels to watch are: The daily resistances at 1.1555, other daily resistance at 1.1460, daily resistance at 1.1237, the 10-day moving average at 1.1223 (resistance), other daily support at 1.1097, and the 200-day moving average at 1.1025 (support).
The single currency recorded a second consecutive decline against the dollar on Monday. The euro justified the negative expectations and threw the pair downwards. As a result, both supports at 1.1191 and 1.1146 were broken. If bearish sentiment continue, currencies may test the next key level at 1.1085. The new week started at a price of 1.1238 as the euro retreated in the early hours of trading. Bottom of the day was hit at 1.1127 and the session closed with 25 pips higher.
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