EUR/USD

The consolidation in EUR/USD continues to be present in the currency's early European trading today. The pair is now 1.0904 after yesterday's bullish attempt to climb higher failed due to not enough strength in yesterday's US data.
Durable Goods Orders turned out to be non-event and market participants witnessed only a slight reaction to the upside at 1.0942. After the initial boost, the pair lost momentum and fell to pre-event levels. Today is the fifth consecutive day of lite volume trading for the pair, as it has been holding to levels around 1.09 since the beginning of the week.
However, we have one more chance to see volatility today with the latest high impact US GDP data. Expectations are that the US GDP for Q3 will be 2.4%, prior to 1.4%.
If the data is positive, then we can expect a sharp drop in the pair that could lead us to levels around 1.0820. On the other hand, a disappointing report would help bulls to gain control and push prices higher.

Yesterday the EURUSD tried to rally but found enough resistance once again at the 10-day moving average giving back to the market all of its gains and closed near the low of the day, however managed to close within previous day range, which suggests being slightly on the bearish side of neutral.

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

The key levels to watch are: a daily resistance at 1.1097, the 10-day moving average at 1.0920 (resistance), a daily support at 1.0900 and other daily support at 1.0819.

The euro marked slight decline against the US dollar on Thursday. EUR/USD was trading within narrow range and remained at same levels fromt his week. Support is located at 1.0849 and 1.0803. Resistance is now placed at 1.1040 and 1.1094.

EUR/USD is consolidating above the support at 1.0900 and if it breaks below that level it will likely reach 1.0870 again, but any major changes are unlikely to happen until the market closes today.

The single currency marked significant growth on Friday amid positive data on consumer prices in Germany and the political upheavals of the United States. EUR/USD is up 88 pips and reached its highest value for the last two weeks at 1.0982. Technically the bulls remain in a leading position, which will be confirmed by the breakthrough of 100-day moving average at 1.1000.

EUR/USD has been receiving mixed signals from both parties since Friday. The pair tried to go above 1.10 but was unsuccessful in sustaining the momentum and bears brought the pair down to current market price of 1.0958.

On the last Friday’s session the EURUSD rallied with a wide range and closed near the high of the day, also managed to close above Thursday’s high, which suggests a strong bullish momentum.

The pair closed above the 10-day moving average that should act as a dynamic support however the currency pair continues to trade well below the 50 and 200-day moving averages that should act as dynamic resistances.

The key levels to watch are: daily resistance at 1.1097, previous swing high at 1.1039 (resistance), the 10-day moving average at 1.0919 (support), a daily support at 1.0900 and other daily support at 1.0819.

EURUSD Week Ahead

EURUSD Using Candlewick Cross (Red) & Candlestick Cross (Green) Buy above those lines, sell below. Although it's not that simple works best on longer time frames. Algorithms know where all these trend lines are, it's hard for us humans to keep up with them.

Best thing about Candlestick Crosses and Candlewick Crosses is that you can use them on range bound markets. So if a pair is trading in a range, these are the best strategies to use.

EUR/USD was moving to the upside but it couldn't quite reach 1.1000 again and bounced off the resistance at 1.0990. Next target is likely around 1.0920 - 1.0900.

EUR/USD is trading relatively unchanged from yesterday's levels gravitating towards 1.0970. Important news are scheduled for today that may impact the pair. First resistance is seen at 1.10, while first support is seen at 1.0940.

The single currency started the week with a moderate decline against the US dollar, depreciating by 7 pips to a closing price of 1.0976. The positive attitudes remain, but the price fails to break 100-day moving average. Support is located at 1.0945 and 1.0910. Resistance is placed at 1.1045 and 1.1105.

Looks kind of locked around 1.095, though.

Longer Term View - EURUSD - Beware Anything Can Happen!!!

Shorter Term View - EURUSD

Don't ask me what's going to happen, I haven't a clue. I just draw the lines!!!

EURUSD using what I call the Parabolic Moving Average.

How to get it:

1. Place Parabolics on chart.
2. Place 5 Day Smooth Moving Average On Chart.
3. Right Click Indicators List
4. Go to Moving Average and Apply to First Indicator's Data.

I think this gives a clearer picture.

Oops!!!😳