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FXWES
Mar 15 2016 at 07:48
675 Posts
The pair continued its decline for a second day, as the euro has depreciated by about 50 pips to closing price of 1.1101. The extreme values were recorded respectively at 1.1175 and 1.1077. The index of relative strength retreated to neutral territory, but the graphics continues to develop over the moving averages as levels at 1.1070 appear to be additional support downwards.

honeill (honeill)
Mar 15 2016 at 08:36
1141 Posts
Yesterday EURUSD fell with a narrow range and closed near the low of the day, however managed to close within the Friday day range, suggesting a weak bearish momentum.

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

The pair is retesting the 1.1097 daily support and if the price holds it could signal another leg up.

The key levels to watch are: The year high at 1.1376 (resistance), a daily resistance at 1.1237, daily support at 1.1097, the 10-day moving average at 1.1072 (support), the 200-day moving average at 1.1027 (support) and the 50-day moving average at 1.1026 (support).

"I trade to make money not to be right." |
victoriajensen
Mar 15 2016 at 16:17
1117 Posts
The pair has been consolidating all day. I think the consolidation will continue until the FOMC statement on Wednesday, even if it breaks below 1.1100.

alexforex007
Mar 15 2016 at 23:33
774 Posts
A breakdown below the 1.1000 level could take the EURUSD back to its bearish trend.

FXWES
Mar 16 2016 at 06:54
675 Posts
The pair traded in a narrow range during yesterday's session and remained without any significant changes at a level of 1.1105. The extreme values were recorder at 1.1124 and 1.1071. The index of relative strength remains in neutral territory but the chart continues to develop over moving averages. Keeping the the support at 1.1070 creates conditions for the renewal of the upward movement.

stian
Mar 16 2016 at 08:21
325 Posts
It will hold a bearish trend up till the US rate decission. Then it might turn bullish as we don't expect Fed to raise the rate futher yet.

honeill (honeill)
Mar 16 2016 at 09:06
1141 Posts
Yesterday EURUSD went back and forward without any clear direction with a narrow range and closed in the middle of the daily range, however managed to close within the previous day range, suggesting lack momentum and indecision in the market.

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

Today we will have the FOMC Economic projections and Fed interest rate decision that should bring a lot of volatility to the market. However the market is not expecting any interest rate hike for this month.

The key levels to watch are: The year high at 1.1376 (resistance), a daily resistance at 1.1237, daily support at 1.1097, the 10-day moving average at 1.1079 (support), the 50-day moving average at 1.1030 (support) and the 200-day moving average at 1.1027 (support).

"I trade to make money not to be right." |
deresel
Mar 16 2016 at 09:30
708 Posts
Euro/dollar was volatile yesterday. The outlook remains bearish for now, but as long as the price holds above 1.1065, the pair is still in the upward phase targets near the trend line resistance, localized around 1.1300. On the downside, a clear break below 1.1065 will become a threat to the bullish phase targets near 1.1000 or lower. Resistance for the day is 1.1125 (yesterday's high). A clear break above it could trigger further bullish pressure testing 1.1200. The main technical outlook remains neutral.

deresel
Mar 16 2016 at 09:55
708 Posts

Interesting levels to watch for:
Support: 1.1070; 1.0945; 1.0790;
Resistance: 1.1240; 1.1380.

rosentray
Mar 16 2016 at 11:28
277 Posts
The EUR/USD is trading lower today due to technicals and fundamentals combined. Main trend remains bullish, but a correction is currently taking place and driving price down below 1.11. First support 1.1060. First resistance 1.1135.

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