EUR/USD

Spackelspade posted:
Upp to 1.13714 then down

i agree with you bro..

EUR/USD is consolidating after the big move to the upside last Friday. The pair is testing the resistance at 1.1370 and it may be forming a double top there, but it's too early to tell.

The EURUSD loses some steam and it may try to correct to the downside, but the Dollar needs to strengthen in order for the pair to do that. For now there are no fundamentals supporting the Dollar.

EUR/USD is trading relatively stable in today's session even after Yellen's speech about the latest jobs report and current economy state. Price is now 1.1370 with first resistance at 1.14.

Following Yellen’s speech US dollar remained stuck around 3-week low. EUR/USD fell 0.08% and was trading lower. The intraday low was reached at 1.325.

Consolidation with no clear direction today, and upside limited to 1.1400 level.

Yesterday the euro remained unchanged against the dollar at a level of 1.1352. The pair failed to overcome the psychological resistance at 1.1400, while the euro found support at 1.1326. Technically the bulls will dominate. Support is located at 1.330 and resistance at 1.1465.

Yesterday EURUSD went back and forward without any clear direction but still closed in the red, in the middle of the daily range, in addition managed to close within the previous day range, which suggests clearly neutral market, neither side is showing control.

The pair is trading above the 10, 50 and 200-day moving averages that are acting as dynamic supports.

The key levels to watch are: A daily resistance at 1.1556, other daily resistance at 1.1460, the 50-day moving average at 1.1302 (support) and a daily support at 1.1237.

eurusd indesiction candle below daily resistance

EUR/USD is trading lower today after the speech of FED's Yellen. Key remarks highlighted in her talk were the strengths of the US economy and the reason for such a low jobs report. She emphasized how traders and investors should not overreact to a single report. This appers to have worked, as the US dollar is stronger today.

The dollar slowed its decline after the statement of Janet Yellen. Fed chairman said that currently central bank policy is appropriate, but over time interest rates will rise. Yellen also said that it expects inflation to move towards the 2% target over the next few years. For NFP last week, Fed Chairman said that they were 'disappointing'.

EUR/USD formed a doji candlestick on the daily time frame below 1.1400 and consolidation continues for now. We'll likely see a move to the downside to 1.1300 again.

Key levels to watch for today:
Support: 1.1330; 1.1220; 1.1090;
Resistance: 1.1465; 1.1620.

The pair is back to 1.135 area, terribly tight range, unable to break out, on the upside the psychological resistance is still at 1.1400.

The bullish momentum has been lost in the EURUSD, even though it stays around the 1.1400 zone, it may go in any direction.

Yesterday EUR/USD was trading in a narrow range for a second day in a row and the single currency remained almost unchanged at a level of 1.1355. The daily high was reached at 1.1379and the low at 1.1338. The current consolidation might test the psychological level at 1.1400.

EUR/USD was indecisive yesterday. Commercial bias remains bullish in nearest term for testing 1.1470. Support for the day remains 1.1285. A clear break and daily close below this level could become a threat to the bullish scenario re-testing the lower line of the bullish channel, but I still prefer a bullish scenario at this stage.

Yesterday EURUSD went back and forward without any clear direction but still closed in the red, in the middle of the daily range, in addition managed to close within the previous day range, which suggests clearly neutral market, neither side is showing control.

Looks like EURUSD is in compression mode due to the narrow ranges that is making since Monday and to the inside day that it made yesterday. So get ready for an expansion day in the few days to come.

The pair is trading above the 10, 50 and 200-day moving averages that are acting as dynamic supports.

The key levels to watch are: A daily resistance at 1.1556, other daily resistance at 1.1460, the 50-day moving average at 1.1301 (support) and a daily support at 1.1237.

EUR/USD is trading higher today due to lack of fresh news and the reaction of the latest jobs report. Price is currently 1.1371 and market sentiment on the short term is bullish.