The EURUSD accelerates its bullish momentum to visit the 1.1000 level. If Mr. Macron wins the French elections on Sunday, then the pair may break the 1.1000 level to the upside and maybe reach the 1.1100 zone.
The euro rose against the US dollar on Friday. By the close of US trading, EUR/USD was trading at 1.0998, gaining 0.13%. I believe that support is now at around 1,0873, Thursday's low, and resistance is likely at 1.0999, the high of Friday's trading.
On Friday, the euro rose against the dollar to a maximum in six months amid optimism about the results of the French president's election. At the same time, the markets practically did not take into account the sharp rise in jobs in the US last month. At the close of trading on Friday, the pair EUR / USD was trading at position 1.0998, the highest since early November 2016. Shell we see a sharp crack of 1.10?
On the last Friday’s session the EURUSD initially fell with a narrow range but found enough buying pressure near the last swing high to trim all its losses then managed to close in the green, near the high of the day, in addition the currency pair closed above Thursday’s high, which suggests a strong bullish momentum.
The currency pair is now trading above the 10, 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.1236, other daily resistance at 1.1097, key level at 1.0970 (support), a daily support at 1.0900, and the 10-day moving average at 1.0927 (support), a daily support at 1.0819.
Surprisingly, EUR/USD fell from 1.1020 after the elections in France and Emmanuel Macron's victory. It is currently testing the support at 1.0930, and a breakout below that level will likely lead to a new move to the downside towards 1.0865, which is the (MA)89 on the four-hour time-frame.
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There has been a good pullback on the EURUSD and the pair may try to reach the 1.0900 level, which could act as support. Another possible escenario is for the pair to stay consolidated around the 1.0900 level, since that zone has been a congestion area in the recent past.
On yesterday session, the EURUSD dived with a wide range and closed near the low of the day, in addition the currency pair managed to close below Friday’s low, which suggests a strong bearish momentum.
The currency pair closed shy below the 10-day moving average that should provide dynamic resistance however is still trading above the 50 and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.1097, key level at 1.0970 (resistance), the 10-day moving average at 1.0928 (resistance), a daily support at 1.0900 and other daily support at 1.0819.
Today the EUR/USD pair is extending its decline and moved below the 1.0900 level. The current market price is 1.0876, very close to last week’s low. The bearish tone is ongoing with next target seen at 1.0850.
On yesterday session, the EURUSD fell with a narrow range and closed near the low of the day, in addition the currency pair managed to close below Monday’s high, which suggests a strong bearish momentum.
The currency pair is trading below the 10-day moving average that should provide dynamic resistance however is still trading above the 50 and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a key level at 1.0970 (resistance), the 10-day moving average at 1.0929 (resistance), a daily resistance at 1.0900 and other daily support at 1.0819, the 50-day moving average at 1.0765 (support).
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