The euro / dollar had a moderate ascending momentum yesterday, forming a peak at 1.1687. The views are bullish for testing at 1.1725 / 50. But the longer the price stays below 1.1900, the downward reversal scenario of the head and shoulders remains intact and any upward pressure should be seen as a good sales opportunity. Immediate support is 1.1625. A clear breakthrough below this level may take the price to a neutral zone with testing at the 1.1575 level. A clear breakthrough and daily / weekly closure below will open the doors in front of the bear to 1.1450.
The euro rose against the US dollar on Friday morning. During Asian trading, EUR / USD was trading at 1.1661, gaining 0.03%. I believe that support is now at 1.1594, Monday's low, and resistance is likely at 1.1687, Thursday's high.
The euro fell against the US dollar on Friday. By the close of US trading, EUR / USD is trading at 1,1605, losing 0.45%. I believe that support is now at 1.1594, Monday's low, and resistance is likely at 1.1690, the high of Friday's trading.
EUR/USD edged the week flat around 1.16. Indicators are showing breaish signs, so the upcoming week will srart with testing the first support at 1.1574.
On Friday, the rate of the US dollar went to growth after the release of reports on the volume of industrial orders in the US and business activity in the services sector, which made investors forget about the weaker earnings report in the United States than in the forecast.
At the end of trading on Friday, the euro was down against the dollar. The EUR / USD slipped 0.45% to hit 1,1605.
Next week, investors will continue to monitor progress in US tax reform, but from the standpoint of economic reports, this will be a relatively quiet week.
EUR/USD is hovering around 1.16 amid the broad US dollar’s weakness and unstable signle currency despite firm local data. Yet the risk to the downside remains with immediate support at 1.1574.
The single currency recorded a decline against the US dollar on Tuesday. The session started at 1.1608 and ended 23 pips lower. The price managed to break the first support at 1.1590 and the euro reached a daily bottom at 1.1553. Short-term outlook remains negative, as the chart continues to grow below the moving average.
The Euro/Dollar attempted a downgrade yesterday, sliding under the support of 1.1580 but still unable to remain convincing below this level and hit 1.1606 earlier this morning. Expectations are neutral for now. In general, I stay in the bear camp as part of the downside reversal scenario of the head and shoulder figure on the daily chart. But a clear break below 1.1580 is needed for the sequel to the downside for testing at 1.1500 - 1.1450. Intraday resistance we have at 1.1650/70. A clear breakthrough over this area may cause future upward pressure on the 1.1725 test, but the longer the price stays below 1.1900, I stay down and every bullish pressure should be seen as a good sales opportunity.
EUR/USD today is confined within tight range, probably due to the lack of significant macro news. However technically the short term bias remains bearish according to indicators on the H4 chart.
EUR/USD is trading uplifted today and surpassed the 1.1660 level. The short term outlook is positive and the 1.1690 mark looks more likely to be visited soon.
The single currency gained traction today and the EUR/USD pair moved higher, but however yet can't fight the last week’s high. Indicators on the H4 chart are losing directional strength.
The euro registered a neutral session against the dollar on Monday. The single currency starts a new week without a substantial change in price. The pair stayed at the higher levels on Friday and if the bullish moods prevail again, the resistance at 1.1782 will be tested. Trading started at 1.1654, and the final was 12 pips higher. Peak for the day was reached at 1.1674.
EUR/USD is stable around 1.80 handle today, but strong resistance comes at 1.1820 – 1.1830, where the pair failed to surpass multiple times in the past.
