Eur/usd
- Thread starter forexbillions
- Start date
- Watchers 38
fxstrategist
Established member
- Messages
- 603
- Likes
- 17
Incredible drop on the euro
The EURUSD plummets during today’s session, pressured by the Italian fiscal problems and strength on the US Dollar after the FED raised its interest rates yesterday. The EURUSD drops from the 1.1800 level to below the 55 day EMA at the 1.1649 level. If the drop continues, the pair may find its first support at the 1.1600 level and every round number from there under, until the 1.1300 level where it registered its most recent low. To the upside, the most relevant resistance levels are at the 1.1700 and 1.1800.
The EURUSD plummets during today’s session, pressured by the Italian fiscal problems and strength on the US Dollar after the FED raised its interest rates yesterday. The EURUSD drops from the 1.1800 level to below the 55 day EMA at the 1.1649 level. If the drop continues, the pair may find its first support at the 1.1600 level and every round number from there under, until the 1.1300 level where it registered its most recent low. To the upside, the most relevant resistance levels are at the 1.1700 and 1.1800.
Exited today at 1.1610 has planned with a nice profit :clap:
fxstrategist
Established member
- Messages
- 603
- Likes
- 17
The Euro is still very weak
The weakness on the Euro persists and the EUR/USD keeps its bearish trend, coming close to the 1.1500 level as shown on the daily chart. The 1.1500 level may act as support and the pair may bounce to the upside from that level, but a breakdown could take the EUR/USD to the 1.1400 level. The 1.1300 level has been a good support in the past and if the pair wants to keep its bearish trend, it must break below that level. In case of a pullback, the 1.1600 level may be its nearest resistance, but its most important resistance is at the 1.1800 level where we can also find, hanging around, the 200 day EMA (blue line).
The weakness on the Euro persists and the EUR/USD keeps its bearish trend, coming close to the 1.1500 level as shown on the daily chart. The 1.1500 level may act as support and the pair may bounce to the upside from that level, but a breakdown could take the EUR/USD to the 1.1400 level. The 1.1300 level has been a good support in the past and if the pair wants to keep its bearish trend, it must break below that level. In case of a pullback, the 1.1600 level may be its nearest resistance, but its most important resistance is at the 1.1800 level where we can also find, hanging around, the 200 day EMA (blue line).
Attachments
fxstrategist
Established member
- Messages
- 603
- Likes
- 17
EURUSD pulls back to keep falling
Even though the EURUSD has pulled back, it stays consolidated around the 1.1500 level and it may continue dropping. The support could be at the 1.1400 level. In case of a higher pullback, the 1.1600 level could act as resistance.
Even though the EURUSD has pulled back, it stays consolidated around the 1.1500 level and it may continue dropping. The support could be at the 1.1400 level. In case of a higher pullback, the 1.1600 level could act as resistance.
Pat494
Legendary member
- Messages
- 14,614
- Likes
- 1,588
Attachments
fxstrategist
Established member
- Messages
- 603
- Likes
- 17
The EUR/USD consolidates
Even though the EUR/USD rallied again above the 1.1500 level, the pair is really consolidating in a range, while oscillating around that level. To the upside, the 55 day EMA and the 1.1600 level could act as resistance, in case the EUR/USD tries to go back up. But the current consolidation could be a resting area for the pair to continue dropping, since it is coming from a bearish trend. To the downside, the 1.1400 level could act as support, but the most relevant support is at the 1.1300 level from where the price has already bounced to the upside in the past.
Even though the EUR/USD rallied again above the 1.1500 level, the pair is really consolidating in a range, while oscillating around that level. To the upside, the 55 day EMA and the 1.1600 level could act as resistance, in case the EUR/USD tries to go back up. But the current consolidation could be a resting area for the pair to continue dropping, since it is coming from a bearish trend. To the downside, the 1.1400 level could act as support, but the most relevant support is at the 1.1300 level from where the price has already bounced to the upside in the past.
