victoriajensen
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The EUR/USD consolidation continues and the pair is still testing the support at 1.1200. This might continue until the ECB rate decision on Thursday.
Sherif Fares
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EUR/USd is moving in a tight range and I dont think we will see any sudden movement until the ECB press conference and the NFP.
I agree with you on that, Because it should be some high volatility after that.
fxstrategist
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Eurusd
Looks like the 1.1300 level is the next resistance for the EURUSD.
Looks like the 1.1300 level is the next resistance for the EURUSD.
The euro recorded a minimal increase against the dollar. The negative series of the single currency was interrupted, but the couple remained at the lower levels. If short-term expectations justify the adjustment of the price will continue, bullish sentiment will become more intense and currencies will make a test of resistance at 1.1329. Monday session was relatively calm, and the pair ranged in a narrow range. The start was given at a rate of 1.1172, and the finish line was crossed 37 pips higher. Peak of the day was achieved at 1.1261.
Yesterday the EURUSD tried to rally but found some resistance at 1.1237 to turn back but managed to close in the green at the middle of the daily range. Looks like the currency will keep pushing higher, the first stop should be the 10-day moving average at 1.1326 and a close above it would suggest a stronger move up to 1.1460 daily resistance.
Sherif Fares
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EUR/USD is testing again 1.1291 I don't think we will see a start of a trend before this weekly fundamentals.
victoriajensen
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I too highly doubt that will happen but the pair might still break above that resistance and reach 1.1400.
I agree, on the downside the 20SMA is providing a good support.
The euro registered a second successful session against the dollar on Tuesday. The single currency justified the positive expectations, partly recovering from the losses last week. The pair recorded peak for the day at 1.1331 and tested the resistance at 1.1329. Despite the attack, the key level didn’t break through, but short-term indicators remain in favor of the euro. Tuesday session started at price of 1.1209 and bulls prevailed. The session ended at a price of 1.1313.
Yesterday the EURUSD pair rose on a wide range day and closed in the green near the high of the day, shy below the 10-day moving average. The currency did not managed to close above the 10-day moving average so until it closes above we may expect some consolidation but a breakdown of previous day low at 1.1207 could accelerate the bearish trend.
Sherif Fares
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Tomorrow is the ECB press conference and the interest rate decision The market will have a big volatility.
victoriajensen
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EUR/USD is back to testing the support at 1.1240 but I doubt anything will come of it before the ECB rating decision tomorrow.
The euro depreciated against the dollar on Wednesday. Upward momentum was interrupted, and the break of resistance at 1.1329 was postponed. If negative move continues in the future, the couple will most likely overcome the support at 1.1105 and will test the level of 1.1016. The session started at a price of 1.1312 as the bear trend prevailed throughout. Bottom of the day was hit at 1.1216 shortly before the end of trading. The session closed at a rate of 1.1225.
Yesterday the EURUSD pair fell on a narrow range day, creating an inside day and closed well in the red near the low of the day. The currency failed once again to close above the 10-day moving average but all eyes now turn to the ECB Interest rate decision and monetary policy statement and press conference that should stay unchanged.
Sherif Fares
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ECB kept the interest rate as it is and increased the issue share limit from 25% to 33%, EUR USD reacted to the move of the ECB and fell to reach 1.090 which is a strong support line and rebounded from there. still tomorrow there is the NFP.
The EUR/USD dropped more than 120 pip in an hour today, and that is what i was talking about, happy hunting day
Yesterday the EURUSD pair fell on a wide range day and closed well in the red near the low of the day, shy above the 200 and 50-day moving averages. The currency fell after the ECB revised down the GDP and inflation forecasts for 2015-2017. Today we have the Nonfarm payrolls which are expected to rise to 220K in August from the 215K in July. A breakdown of the daily resistance 1.1097 would set ground for a further fall to daily support at 1.0900.
