EUR/USD

Looks like there might be a big drop soon

next step 1.0535

Possible turnaround at European close

Huge drop to 10617,that's why I don't trade after 17.30,can't beat HFTs no matter how fast you are on the trigger.

On Wednesday session the single currency recorded a light increase against the US dollar.The pair opened at a price of 1.0640 and after a volatile session closed at a rate of 1.0658. Daily extreme values were reached respectively at 1.0617 and 1.0692. The positive outlook still prevails, but for further gains is needed breakthrough of 1.0676.

Yesterday the EURUSD went back and forward with a wide range, creating an outside day but managed to close in the green in the middle of the daily range.

According to the US Federal Reserve (Fed) policymakers latest meeting, a potential increase of the interest rate is on the table for the next Fed meeting on 16th of December.

The key levels to watch are the 1.0900 (Resistance), 1.0819 (resistance), the 10-day moving average at 1.0721 (resistance), a Fibonacci extension at 1.0703 (resistance) and 1.0622 (Support).

Early bird cathes the worm. Anyone long yet? (not me by the way)

In my opinion the FOMC minutes seeded the doubt over a rate Hike in december and it was understood as probably not this time again. So that pushed the pair back to 1-07, but we need to see the EU Policy in about half an hour and see if the Central Banks are willing to push the pair lower or are trying to stabilize this drop since Oct.

So in my opinion it is a moment to be cautious and wait and see, If there is a rate change in december 15-16 it wont be as hard for the EURO than if yesterday they had confirmed the hike.

Probably , although they know that parity is on its way the members of teh FOMC do not want to accelerate things and are trying to release some pressure.

Traders are disappointed with FOMC minutes, and the Dollar is still suffering from it, correction movement continues just above 1.0700 level.

In my opinion, parity will be reached when FED raises the interest rates.

Valicourt posted:
Early bird cathes the worm. Anyone long yet? (not me by the way)

True saying,I traded short at 10717 down to 10670 closed out watching for the next range trade

Apparently some correction is in order. The pair is headed for the resistance at 1.0800. I doubt that's the end of the bearish trend though.

victoriajensen posted:
 Apparently some correction is in order. The pair is headed for the resistance at 1.0800. I doubt that's the end of the bearish trend though.

I agree with you on that, and seems that there is a positive expectation for Draghi's speech in Friday.

EUR/USD made a correction from 1.065 level, I don't see further correction until price break 1.0728 and close above it on the 4 hour chart.

On Thursday session the single currency recorded an increase against the US Dollar. The session started at 1.0658 and ended 74 pips higher. The bulls prevailed and the first resistance at 1.0676 was broken. Expecting further increase of the euro and a break of next resistance at 1.0854.

snapdragon1970 posted:

Valicourt posted:
Early bird cathes the worm. Anyone long yet? (not me by the way)

True saying,I traded short at 10717 down to 10670 closed out watching for the next range trade

I am looking for long on the daily chart. Still standing by :)

Ok ,
I think correction is over ,start short to 1.000

Yesterday the EURUSD rose with a wide range and closed in the green near the high of the day, shy above the 10-day moving average. The question is if the pair has enough strength to follow thru the upward momentum.

The key levels to watch are the 1.0900 (Resistance), 1.0819 (resistance), the 10-day moving average at 1.0719 (resistance), a Fibonacci extension at 1.0703 (support) and 1.0622 (Support).

The EUR/USD fell to the Fibonacci R2 at 1.0642 and lost all the Thursday gains, as the down trend still strong. let us see what is next week will reveal.