EUR/USD

The US dollar remained high by the end of the day, expecting more bearish tomorrow too.

Yesterday the EURUSD fell breaking below the 50% Fibonacci level (support) at 1.0955 and closed in the red at the middle of the daily range. This movement suggests a consolidation day, possible making an inside day. Key levels to watch today are: the 50% Fibonacci level (resistance) at 1.0955, and the 61.8% Fibonacci level (support) at 1.0860.

EUR/USD recorded a third consecutive day of declines yesterday, which is on track to record a negative week. The euro depreciated by 50 pips to a closing price of 1.0931. The session passed within the final values 1.0990 and 1.0893. The movement did not confirm the attack on 1.0920, but negative attitudes remain. Possible correction to 1.0975 should renew the interest of bears.

Eurozone’s preliminary CPI rose 0.2% Y/Y in July, unchanged in pace from the previous month and in line with market expectations.

EUR strengthened however as the core CPI rose 1.0% Y/Y from 0.8% above estimates of an unchanged reading.

The fundamentals today caused a lot of volatility on the EUR/USD charts but ultimately the pair failed to break above the resistance at 1.1100 and returned to its previous levels. We'll probably have to wait for next week's US Non-farm Payrolls for any major changes.

Should be quiet, next week

Probably, up until the NFP payrolls on Friday.

victoriajensen posted:
Probably, up until the NFP payrolls on Friday.

I dont think we will see much volatility next week till friday with the NFP and the unemployment rate.

On Friday the trading of EUR/USD was quite variable. During the session the single currency recorded a significant lead against the dollar, reaching a peak for the day at 1.1111 and approaching resistance at 1.1128. A breakthrough level not reachedand just before the end most of the profit was lost. After all the euro gained 52 pips and finished at a price of 1.0982. Short-term expectations remain in its favor.

Not so much is going on today...

EUR/USD consolidate today in a narrow range, but we hope tomorrow to see some change in the pair position.

there was no much movements today and I don't expect much this week until friday.

Eur/Usd is back to test 1.1100 resistance level, breaks above would mean selling opportunity is likely to be seen.

EUR/USD recorded a minimum decrease on Monday session. The pair started the week without a significant change in the price. The session was open to the rate of 1.0971 and ended 22 pips lower. Sharp movements were not recorded, the difference between the highest and lowest value for the day was 54 pips. If expectations for new growth in the single currency come true, the resistance at 1.1128 will break through.

Oscillations till NFP day, be aware of false movements

sherifFares posted:
there was no much movements today and I don't expect much this week until friday.

You're right. Today was a painfully slow day and there's little reason to believe anything will change before the NFP.

Greek PMI collapsed to 30.2 as employment plunged, what suggests a contraction in GDP of around 16%.
 Eurozone’s PPI for July is expected to fall at an accelerating pace.

EURUSD traded almost unchanged designing a doji.