EUR/USD

EUR/USD is trading at 1.1320 after making a low of 1.1283 which appeared to be prior pivot point and gave bulls some confidence that they might be able to turn the price around. Main trend remains bearish on the short-term with first bear target 1.1270.

There is a doji candlestick and a shooting star candlestick below the resistance at 1.1340 which coincides with (MA)89 on the 30-minute chart. This is a short-term signal, but I think we can expect a new move to the downside towards 1.1300.

The single currency recorded slight increase against the dollar on Monday, breaking a two-day negative series. The pair moved within a narrow range with extreme values reached at 1.1341 and 1.1301, and finally the euro rose 11 pips to a closing price of 1.1319. Index relative strength develops in negative territory as the price remains limited by the resistance at 1.1350 and moving averages upwards.

The single currency rose against the dollar on Monday to 1.1322 or with a growth of only 0.09%. The pair is in a narrow range in anticipation of inflation data in the US today, which could present a clearer picture of the future of the US economy.

Yesterday EURUSD initially rose but found enough selling pressure at the 50-day moving average to give back some of its gains but closed in the green, although near the low of the day, but managed to close within the Fridays range, suggesting being slightly on the bearish side of neutral.

The pair is trading below the 10 and the 50-day moving averages that are acting as dynamic resistances although still trading above the 200-day moving average that is acting as a dynamic support.

The key levels to watch are: Daily resistance at 1.1459, the 10-day moving average at 1.1367 (resistance), the 50-day moving average at 1.1333 (resistance), a daily support at 1.1237, a swing low at 1.1141 (support) and a daily support at 1.1097.

Today the attention of traders will be focused on data on inflation in the UK and the US. Later, three representatives of the US Federal Reserve will make their statements. The day will be difficult for the single currency, as in Asia the pound and the Australian dollar strengthened considerably to all currencies.

On Monday the euro/dollar was in a correctional phase during the day. The euro rebounded against the US dollar to a mark of 1.1342 after declining manufacturing activity in New York to minus 9.02 vs. the forecasts of 6.50 plus. By the close of the trading day the couple returned to the level of 1.1315.

Key levels to watch for:
Support: 1.1280; 1.1215; 1.1150;
Resistance: 1.1350; 1.1465; 1.1620.

Let's wait until tomorrow's FOMC.

EUR/USD is trading at 13.36, slightly changed from yesterday's levels. Traders and investors are expecting tomorrow's FOMC Meeting so low volatility can be expected.

On Tuesday, the dollar is stable against other major currencies, as investors remained cautious ahead of a string of US economic reports, which will be released later today. Investors are preparing for release later in the session US data on the housing sector, consumer prices and industrial production in the search for further instructions on the strength of the US economy. The EUR/USD is stable at 1.1324.

EUR/USD found some support at 1.1280 and formed a spinning top candlestick above that level on the daily time-frame, so we might see a move to the upside, but I doubt anything major will happen before the fundamentals tomorrow.

The pair is back to its cave again after a little push up, just holding above the support level at 1.13, prepare for FOMC minutes tomorrow.

EUR/USD didn’t move significantly on Tuesday and continued trading at familiar levels for the second consecutive day. The euro depreciated softly to 1.1311 and reached extremes at 1.1348 and 1.1301. Fed minutes failed to support the US dollar. Bears remain in the leading position, which will be reinforced by break of 1.1280.

Yesterday EURUSD initially rose but found enough selling pressure again at the 50-day moving average to give back all of its gains and closed in the red, near the low of the day, but managed to close within the previous day range, suggesting being slightly on the bearish side of neutral.

The pair is trading below the 10 and the 50-day moving averages that are acting as dynamic resistances although still trading above the 200-day moving average that is acting as a dynamic support.

The key levels to watch are: Daily resistance at 1.1459, the 10-day moving average at 1.1358(resistance), the 50-day moving average at 1.1333 (resistance), a daily support at 1.1237, a swing low at 1.1141 (support) and a daily support at 1.1097.

EUR/USD broke below 1.1280 but right now everyone are waiting for the FOMC meeting minutes announcement. The news will likely push the pair to 1.1200 again.

Next psychological support level can be found at 1.1200 after the pair broke below 1.1250 zone, bearish trend is likely to continue when the pair break below 1.1200 handle.

On Wednesday session the euro recorded its worst performance against the dollar since mid-April after Fed minutes hinted for a rate hike next month. The single currency plummeted and closed at levels of daily low at 1.1215. Negative mood is still actual, but the relative strength index hints overselling. Eventual correction could bring bears back.

Yesterday EURUSD fell sharply with a wide range after the FOMC minutes and closed near the low of the day, in addition managed to close below the previous day low, suggesting a strong bearish momentum.

The pair is trading below the 10 and the 50-day moving averages that are acting as dynamic resistances although still trading above the 200-day moving average that is acting as a dynamic support.

The key levels to watch are: The 50-day moving average at 1.1333 (resistance), the 10-day moving average at 1.1339 (resistance), a daily resistance at 1.1237, a swing low at 1.1141 (support) and a daily support at 1.1097.