For seventh consecutive day the euro continued sloping downwards against the dollar adn reached a new 11-month low. The positive macro data in the euro zone failed to support the EUR/USD. The psychological support at 1.0700 appears now main target.
Nov 16 2016 at 07:46
Yesterday the EURUSD tried to rally but found enough resistance near 1.0818 to give all tis gains back to the market and closed in near the low of the day, although the pair managed to close within the previous day range, which suggests being slightly on the bearish side of neutral.
The pair is trading well below the 10, 50 and the 200-day moving average that should act as dynamic resistances.
The key levels to watch are: the 10-day moving average at 1.0924 (resistance), a daily resistance at 1.0900, other daily resistance at 1.0819 (support), the new 2016 low at 1.0709 (support) and a Fibonacci extension at 1.0666 (support).
The pair is trading well below the 10, 50 and the 200-day moving average that should act as dynamic resistances.
The key levels to watch are: the 10-day moving average at 1.0924 (resistance), a daily resistance at 1.0900, other daily resistance at 1.0819 (support), the new 2016 low at 1.0709 (support) and a Fibonacci extension at 1.0666 (support).
"I trade to make money not to be right."
Nov 16 2016 at 11:58
EUR/USD reached the support at 1.0700 and is currently testing it. A breakout below that support would likely lead to a further drop towards the previous low at 1.0540.
EUR/USD is trading at it's lowest since December 2015. The pair made a low of 1.0687 and is now gravitating towards that same low. Support is seen at 1.06. No news are expected today.
bought dollat at 1.080 still holding not a happy camper 😕
Nov 16 2016 at 15:31
tomuks posted:
bought dollar at 1.080 still holding not a happy camper 😕
The 4 hr chart is currently in congestion with 13 bars, with a high center (1.0815)
(see congestion definition in one of my previous posts)
This may cause the trend to reverse some time today/tomorrow in attempt to close the GAP which is near 1.0850
Possibly an opportunity to limit your loss or even make a little profit.
Unfortunately, GAPs often remain open for an extended period of time.
It depends on how today's bar closes.
"a little bit of knowledge is a dangerous thing"
The euro continued to suffer and depreciated by 31 pips to reach a new yearly low at 1.0689. Consolidation at the respective levels will ease the bears to continue the downward direction. Support now is seen at 1.0660 and resistance is placed at 1.0820, and next at 1.0945.
Nov 17 2016 at 08:12
Yesterday the EURUSD went back and forward without any clear direction although made a new 2016 low but closed in the middle of the daily range, however the pair managed to close below the previous day range, which suggests a bearish momentum.
The pair is trading well below the 10, 50 and the 200-day moving average that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.0900, the 10-day moving average at 1.0880 (resistance), other daily resistance at 1.0819 (resistance), a Fibonacci extension at 1.0666 (support) and a daily support at 1.0622.
The pair is trading well below the 10, 50 and the 200-day moving average that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.0900, the 10-day moving average at 1.0880 (resistance), other daily resistance at 1.0819 (resistance), a Fibonacci extension at 1.0666 (support) and a daily support at 1.0622.
"I trade to make money not to be right."
EUR/USD is trading relatively unchanged in today's session. The pair is gravitating towards 1.0720 while market participants are expecting the latest US CPI data scheduled for later today.
Nov 17 2016 at 12:45
EUR/USD is currently testing the resistance at 1.0735. A breakout above that level could lead to a further move to the upside towards 1.0780.
Nov 18 2016 at 07:32
Yesterday the EURUSD tried to rally but found enough resistance to turn around and closed near the low of the day, in addition the pair managed to close below the previous day low, which suggests a strong bearish momentum.
The pair is trading well below the 10, 50 and the 200-day moving average that should act as dynamic resistances.
The key levels to watch are: the 10-day moving average at 1.0834 (resistance), a daily resistance at 1.0819 (resistance), a Fibonacci extension at 1.0666 (resistance) and a daily support at 1.0622 and the all-time low at 1.0462.
The pair is trading well below the 10, 50 and the 200-day moving average that should act as dynamic resistances.
The key levels to watch are: the 10-day moving average at 1.0834 (resistance), a daily resistance at 1.0819 (resistance), a Fibonacci extension at 1.0666 (resistance) and a daily support at 1.0622 and the all-time low at 1.0462.
"I trade to make money not to be right."
The EUR/USD continues to slide downwards as Yellen’s comments and the positive macro data from USA supported the dollar’s strength. The pair remains under the sloping to downwards moving averages with RSI at negative territory. The intraday resistances are placed at 1.0660, 1.0820 and higher at 1.0945. Support is seen at 1.0580, 1.0520 and 1.0460.
EUR/USD at 11-month low today. The pair reached as low as 1.0581 and is now trading around 1.06 which acts as strong support.
Nov 20 2016 at 06:51
Expecting more to the downside.
Positivity
Nov 20 2016 at 08:40
Anyone betting the farm on EUR/USD slide into deep? Input welcomed. Cheers!
arigoldman posted:
Expecting more to the downside.
I agree, no sign of seeing bottom yet, immediate support can be found around 1.0560 level break below lead further downward extension.
The pair seems drop too fast, I would expect a slight recovery in Eur/Usd next week beford testing parity.
Nov 21 2016 at 07:26
Jonny440 posted:
Anyone betting the farm on EUR/USD slide into deep? Input welcomed. Cheers!
EUR/USD slides much deeper, I may lose the farm. I'd suggest we throw another Farm-Aid if it'd bring a modest rally. my only hope is that the $ goes into a turkey induced coma soon.
Cut it while it's hot.
EUR/USD is now more stabilized trading at 1.0630 as market participants are calmer. Uncertainty is still huge and anything can happen. The USD Index hit a 13.5 year high at 101.27.
Nov 21 2016 at 08:36
On the last Friday’s session the EURUSD fell again but this time with a narrow range and closed near the low of the day, also managed to close below Thursday’s low, which suggests a strong bearish momentum.
The pair is trading well below the 10, 50 and the 200-day moving average that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.0819 (resistance), the 10-day moving average at 1.0787 (resistance), a Fibonacci extension at 1.0666 (resistance) and a daily resistance at 1.0622 and the all-time low at 1.0462.
The pair is trading well below the 10, 50 and the 200-day moving average that should act as dynamic resistances.
The key levels to watch are: a daily resistance at 1.0819 (resistance), the 10-day moving average at 1.0787 (resistance), a Fibonacci extension at 1.0666 (resistance) and a daily resistance at 1.0622 and the all-time low at 1.0462.
"I trade to make money not to be right."
