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alexforex007
Mar 31 2016 at 05:06
774 posts
The EURUSD could find resistance at the 1.1400 and support at the 1.1200 level. Lets see how the US fundamentals keep affecting the pair.

FXWES
Mar 31 2016 at 06:58
675 posts
EUR/USD continued the bullish momentum yesterday and made a high at 1.1364. The outlook remains bullish especially if we see a clear break above 1.1375, to test 1.1450-1.1500 area. Immediate support is seen at 1.1280.

Hugo ONeill (honeill)
Mar 31 2016 at 08:11
1141 posts
Yesterday EURUSD rallied but this time with a narrow range and closed in the middle of the daily range, however managed to close above the previous day high, suggesting bullish momentum.

The pair is trading above the 10, 50 and the 200-day moving averages that are acting as dynamic supports.

The key levels to watch are: A daily resistance at 1.1456, the 2016 high at 1.1376 (resistance), the previous swing high at 1.1342 (resistance), a daily support at 1.1237, the 10-day moving average at 1.1230 (support) and the 50 day moving average at 1.1130.

"I trade to make money not to be right."
stian
Mar 31 2016 at 10:03
325 posts
Pair seem to struggle to surpass the 1.1370 barrier. Been attacking it for over an hour.

PERPETUUMMOBILE (PERPETUUMMOBILE)
Mar 31 2016 at 10:24
136 posts
stian posted:
Pair seem to struggle to surpass the 1.1370 barrier. Been attacking it for over an hour.


Keep in mind that 1.1375 is the highest point of the last 22 weeks!

"a little bit of knowledge is a dangerous thing"
PERPETUUMMOBILE (PERPETUUMMOBILE)
Mar 31 2016 at 10:48
136 posts
1.1386 is the 23-week high
1.1495 is the 30-week high

it is also important to know, that the 20 MA on the monthly chart will meet the current price at near 1.1410
This may cause a major pull-back, especially because the monthly chart is in congestion with currently 13 bars.

"a little bit of knowledge is a dangerous thing"
stian
Mar 31 2016 at 10:48
325 posts
PERPETUUMMOBILE posted:
stian posted:
Pair seem to struggle to surpass the 1.1370 barrier. Been attacking it for over an hour.


Keep in mind that 1.1375 is the highest point of the last 22 weeks!


And now it punched through at 1.1383,

PERPETUUMMOBILE (PERPETUUMMOBILE)
Mar 31 2016 at 15:55
136 posts
As I have mentioned, prices advanced to 1.1410 and then got pushed back because of the event described above. This is often a good spot for short-term traders to place a limit/sell order.
Tomorrow, a new bar will start on the monthly chart and the trend situation may change for a while.

One easy way to spot a consolidation or congestion is, when bars have alternating opens and closes.
Usually there are one or two bars that have the open lower than the close (uptrend within the bar) followed by one or two bars where the open and close position is in the opposite direction / open price is higher than the close price = down trend within the bar.
This can be observed in any chart time frame.
Sometimes in a congestion (bar 11 to bar 21 with a measuring bar) there are 3 bars in the same trend, followed by a reversal bar.
These reversal bars can be traded in the direction of the reversal bar.
If the reversal bar has its open higher then its close price, then sell 1 pip below the low of the reversal bar.
If the situation is in the opposite direction, buy at the high of the reversal bar (ask price!) + 1 pip.

"a little bit of knowledge is a dangerous thing"
victoriajensen
Mar 31 2016 at 16:02
1117 posts
I think the pair will likely continue climbing towards 1.1400, perhaps even 1.1500, but on the other hand the NFP will be announced tomorrow and that might change things.

rosentray
Mar 31 2016 at 19:12
277 posts
The EUR/USD made a high today at 1.1411, exactly where resistance is. The pair is now trading around 1.1380. If 1.1410 is not taken out by tomorrow there is a chance that bears might be able to bring the Euro down and go below 1.13.

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