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Member Since Jul 10, 2014  1084 posts victoriajensen Dec 20 2016 at 12:41
EUR/USD just broke below the previous low at 1.0366. It will likely continue falling towards 1.0300 and it appears that parity has become the long-term target.


Member Since Mar 25, 2015  74 posts Richard Bills (RichardBills) Dec 20 2016 at 15:35
The bearish movement over the last 10 hours towards 1.3000 is still modest testing the waters for more significant plunge. Very close to oversold level, the pair actually may rebound from this strong support area (1.0340 - 1.0370) and start going up again. I see first strong resistance at 1.0398.


Member Since Feb 24, 2016  277 posts rosentray Dec 21 2016 at 05:58
EUR/USD is now trading slightly above 1.0405, better than yesterday's levels below the psychological 1.04 level. The pair seems more confident to try and make move to the upside before the weekend. However, bears have the upper hand and if they manage to bring it back below 1.04 for the day this might act as a catalyst for future depreciation in the near-term.


Member Since May 01, 2015  675 posts FXWES Dec 21 2016 at 06:39
During yesterday’s trading the euro lost value against the dollar for a second day. The single currency depreciated by 15 pips to a closing price of 1.0386, marking a new near 14-year low at 1.0351. The sentiment remains bearish. Support is now located at 1.0365 and lower at 1.0320. Resistance is seen at 1.0520 and 1.0665.


Member Since Dec 20, 2016  11 posts Trade24/5 (studionomi) Dec 21 2016 at 08:00
all the way bearish find a support at 1.04565 after that its go down toward 1.028

Sucsses is the good reward of time surf

Member Since Apr 08, 2014  1082 posts Hugo O'Neill (honeill) Dec 21 2016 at 09:07
Yesterday, the EURUSD initially tried fell but found enough support at 1.0366 to trim most of its losses and closed in the middle of the daily range, although the currency pair managed to close below previous day low, which suggests being a bearish momentum.

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

The key levels to watch are: a Fibonacci extension at 1.0666 (resistance), a daily resistance at 1.0622, the 10-day moving average at 1.0500 (resistance), a daily resistance at 1.0462 and the new multi-year low at 1.0352(support).

"I trade to make money not to be right." |

Member Since Dec 20, 2016  11 posts Trade24/5 (studionomi) Dec 21 2016 at 09:57
The EUR/USD pair initially tried to rally during the session on Monday, but as you can see the 1.05 level offered quite a bit of resistance. The resistance of course is a selling opportunity, and with this I think we will continue to see the market grind its way to the downside. I believe that we will reach towards the parity level over the longer term, with the European Central Bank extending quantitative easing being a major reason. The US dollar continues to be one of the strongest currencies in the world, and because of this I don’t see any reason for the Euro to suddenly pick up a lot of strength. With this, I remain very negative but I realize it may be a series of short-term selling opportunities that present themselves.

Sucsses is the good reward of time surf

Member Since Dec 20, 2016  11 posts Trade24/5 (studionomi) Dec 21 2016 at 09:57
The Euro fell during the day on Tuesday, reaching fresh, new lows. In fact, we were at a 14 year low at one point, but bounced enough to form a hammer. That hammer should be a short-term buying opportunity, but quite frankly I am more interested in shorting this market near the 1.05 level where we should see a significant amount of bearish pressure. An exhaustive candle would be a nice selling opportunity as I believe we will eventually reach towards the parity level. Ultimately, this is a market that I think will continue to see bearish pressure not only now, but early in 2017. Over the next couple of weeks, it will probably be somewhat calm, but I still think that we will have a downward slant overall.

Sucsses is the good reward of time surf

Member Since Jul 10, 2014  1084 posts victoriajensen Dec 21 2016 at 13:11
EUR/USD bounced off 1.0350 and moved to the upside again. It's currently testing the resistance at 1.0420 and a breakout above that resistance will probably lead to a further move to the upside towards 1.0460 - 1.0470. There likely won't be any major changes around the holidays.


Member Since Nov 14, 2015  308 posts stian Dec 21 2016 at 14:10
Somewhat of a rally because of the bailout approval. But remember EU rules require depositors to lose money, so it could have a political backlash.

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