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Hugo ONeill (honeill)
Jul 08 2016 at 07:45
1141 posts
Yesterday EURUSD fell with a narrow range and closed near the low of the day, in addition managed to close within the previous day range, which suggests being slightly on the bearish side of neutral.

Today we will have the nonfarm payrolls data and market is expecting the creation of 175K new jobs in June but this number is also subject to strong reviews in the upcoming months, and those reviews also tend to trigger volatility in the EURUSD.

The pair continues to trade below all 3 moving averages the 10, 50 and 200 that should act as dynamic resistances.

The key levels to watch are: The 50-day moving average at 1.1222 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1096 (resistance), the 200-day moving average at 1.1095 (resistance) and Fridays low at 1.0912 (support).

"I trade to make money not to be right."
victoriajensen
Jul 08 2016 at 15:58
1117 posts
I was hoping that the fundamentals today would cause a move in a clear direction, rather than a whipsaw, but clearly that wasn't the cause. EUR/USD is still struggling to break below 1.1030 and it's doubtful that will happen this week.

csc2009
Jul 10 2016 at 23:16
834 posts
victoriajensen posted:
I was hoping that the fundamentals today would cause a move in a clear direction, rather than a whipsaw, but clearly that wasn't the cause. EUR/USD is still struggling to break below 1.1030 and it's doubtful that will happen this week.


Eur/Usd is still holding just above 1.1000 level, lack of strength to continue its downside movement, only if the pair breaks below the support level will result further downward extension.

FXWES
Jul 11 2016 at 05:30
675 posts
The single currency marked a volatile session against the US dollar on Friday. But finally the opening price was close to the closing, respectively, 1.1061 and 1.1051. In the early hours bears prevailed and the pair hit the bottom for the day at 1.1002. Subsequently, however, the euro gained advantage and so the difference between the highest and lowest value was 108 pips. If expectations for further depreciation of the euro justify, we may soon expect a test of the support at 1.0970.

Hugo ONeill (honeill)
Jul 11 2016 at 07:01
1141 posts
On the last Friday’s session the EURUSD went back and forward with a wide range but closed in the red although in the middle of the daily range and managed to close below the previous Thursday’s range, suggesting bearish momentum.

The pair continues to trade below all 3 moving averages the 10, 50 and 200 that should act as dynamic resistances.

The key levels to watch are: The 50-day moving average at 1.1214 (resistance), a daily resistance at 1.1097, the 10-day moving average at 1.1099 (resistance), the 200-day moving average at 1.1097 (resistance) and daily support 1.0900.

"I trade to make money not to be right."
rosentray
Jul 11 2016 at 07:44
277 posts
The EUR/USD pair recorded a drop in the first hours of the trading European session. The pair reached of 1.1017 and is now trading at 1.1028. First support is seen at 1.1000.

victoriajensen
Jul 11 2016 at 09:41
1117 posts
EUR/USD may have formed a double bottom above the support at 1.1030. If that is so its next target is likely around 1.1060 - 1.1070.

PERPETUUMMOBILE (PERPETUUMMOBILE)
Jul 11 2016 at 11:09
136 posts
EUR/USD daily chart

the daily chart is currently in congestion with 12 bars, including today's bar.
in this particular case the measuring bar (MB) is easy to spot. it is the long 'Brexit' bar 12 trading-days ago.
All following bars have their open and close price inside the high and low of the MB (only open OR close is required)

One of the characteristics of congestion is, ALTERNATING OPENS AND CLOSES in price bars.
Usually there are 1 or 2 bars that open high and close low, followed by 1 or 2 bars where open and closes are vice versa.

Last weeks' Thursday and Friday bars opened high and closed low.
This means, chances are that today's bar on the daily chart may close ABOVE the open price.

With this knowledge, a faster time frame can be used to trade in the suggested direction.

"a little bit of knowledge is a dangerous thing"
kieran (snapdragon1970)
Jul 11 2016 at 13:48
1945 posts
victoriajensen posted:
EUR/USD may have formed a double bottom above the support at 1.1030. If that is so its next target is likely around 1.1060 - 1.1070.

I agree,although EUR cant afford to go above this level as it will kill buying value the higher it gets.

"They mistook leverage with genius".
csc2009
Jul 11 2016 at 22:22
834 posts
Eur/Usd remains in a tight range, lack of strength to advance above 1.1065/75 zone. With limited economic releases, I expect the pair would stay in the range tomorrow.

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