EUR/USD

EUR/USD is testing resistance level 1.1000, I wont be opening a position till I get a confirmation with the close of the day.

EUR/USD broke above 1.1000 again and I think we can expect a further move to the upside towards 1.1060.

There was some volatility on the EURUSD, but the pair is currently undecided.

I have a reason to believe that the EUR/USD is ready for take off. The price has been trading slightly above long-term downward channel and is currently creating a new upward channel. Should we get another attempt to break the 200SMA, we might see the EUR/USD climbing above 1.11.

Yesterday the EURUSD initially fell but found enough support at the 10-day moving average to turn around and closed near the high of the day, however closed within the previous day range, suggesting a weak bullish momentum.

The pair closed above the 10, 50-day moving averages that are acting now as dynamic support however did not managed to close above the 200 day moving average.

The key levels to watch are: A daily resistance at 1.1236, other daily resistance at 1.1097, the 200-day moving average at 1.1020 (resistance), 50-day moving average at 1.0997 (support), the 10-day moving average at 1.0944 (support) and a daily support at 1.0900.

The single currency registered a volatile session against the dollar on Monday. Ultimately, the euro slightly advanced against the dollar and so the break of resistance at 1.1066 was postponed. If bullish sentiment continue in the future, the key level will be overcome. The new week started at a price of 1.0992 as initially bearish sentiment prevailed. The pair hit bottom for the day at 1.0939 abs session closed at 1.1013.

Daily levels to watch for:
Support: 1.0892; 1.0822;
Resistance: 1.1066; 1.1119.

The Euro is surprisingly getting bids two days ahead of the ECB meeting on Thursday.
Is this a strategy to buy the rumour and sell the fact? Hard to tell. Will it be slammed hard after the meeting?
The ECB would surely like that but they have disappointed in December so the market is suspicious...

The gain seems limited near 1.1050 handle, the pair very likely stay in the range ahead of the ECB on Thursday.

csc2009 posted:
The gain seems limited near 1.1050 handle, the pair very likely stay in the range ahead of the ECB on Thursday.

 If it breaks above 1.1050 it will probably continue rising towards 1.1200 but range will likely continue for now.

The EUR/USD fell today close to the opening from the resistance level around 1.1050, I see that going short from the 1.1020 is option today.

EUR/USD started trading around the resistance level 1.1000 we might see a few days of trading around this levels.

EUR/USD reached 1.1057, 15 pips above the 200SMA but due to heavy bearish pressure, it retraced back below the Moving Average and is currenctly trading around the 1.10-1.1015 level.

The pair reached resistance twice in the last three days, indicating that the Euro might attempt a bull run. Pay attention to news this week and watch 1.1045.

On the day chart, the EURUSD may be completing a bullish pullback to continue in the direction of the original trend, which is bearish.

The euro recorded a minor decline against the dollar on Tuesday. Although at the beginning of the session bullish sentiment prevailed, the single currency failed to progress. As a result, however, the pair reached the resistance at 1.1066, after peaking at 1.1057. If the positive trend continue in the future, the key level will be overcome.

Waiting for the news tomorrow...

Next levels to watch for:
Support: 1.0892; 1.0822;
Resistance: 1.1066; 1.1119.

Yesterday the EURUSD tried to rally but found enough resistance at the 200-day moving average to turn around and closed near the low of the day, however closed within the previous day range, suggesting a weak bearish momentum.

The pair closed above the 10, 50-day moving averages that are acting now as dynamic support however did not managed to close above the 200 day moving average that is acting as dynamic resistance.

The key levels to watch are: A daily resistance at 1.1236, other daily resistance at 1.1097, the 200-day moving average at 1.1021 (resistance), 50-day moving average at 1.1000 (support), the 10-day moving average at 1.0947 (support) and a daily support at 1.0900.

EUR/USD is trading lower today, due to major resistance in the face of the 200SMA. Main direction remains bullish, but you should have in mind that tomorrow news are scheduled for tomorrow:

- European Central Bank Rate Decision 12:45GMT
- ECB Deposit Facility Rate 12:45GMT
- ECB Marginal Lending Facility 12:45GMT
- ECB Press Conference 13:30GMT