EUR/USD Daily Technical Analysis

After having turbulent week, EUR/USD closed at 1.1891, slightly below the key level 1.19. Immediate support is seen ay 1.1880 with a break below it the pair will extend its donward correction towards 1.1830-1.1840 area. Looking to the upside, 1.1960 remains first bulls target.

EUR/USD started the new week with weak tunes. The pair found support at the 50% Fibo of latest bearish September to November slope (1.1824) and bounced to currently trade at 1.1850.

EUR/USD touched 1.18 level today, but bounced to currently trade at 1.1824. Anyway the short-term sentiment remains bearish, according to indicators on the four hour time frame.

EUR/USD reached two weeks low today and will continue to keep its bearish stance in the short term, confirmed by the indicators on the four hout time frame.

With US Senate intending to extend the debt ceiling and avoid a government shutdown and US dollar might add some fuel, otherwise the pair is poised to extend its decline towards the support at 1.1715, having the expectations of NFP tomorrow.

EUR/USD retreated from the lows around 1.1730 area, but the ongoing bearish bias remains valid.

On the last trading day of the week, which can be called the last full trading day before the Christmas holidays, trading activity declined. In addition, I do not exclude opening trades on Tuesday with price gaps for most instruments.

Key levels to watch for:
Support: 1.1735; 1.1670;
Resistance: 1.1875; 1.2000;

The euro marked a slight decrease against the dollar on Tuesday. The pair remained close to the level of the first resistance at 1.1879 and if the bullish moods prevail in the future, it will be overcome. The session started at 1.1867 and the final was 10 pips down. The pair ranged in a narrow range, with the difference between the highest and lowest values ??for the day being 32 pips.

The single currency recorded an increase against the US dollar on Thursday. The session started at 1.2013 and ended 54 pips higher. Daytime extreme values ??were reached at 1,2004 and 1,2088 respectively. If the upward trend continues, we can expect a second resistance test at 1.2260.

Key levels to watch for:
Support: 1.1990; 1.1875; 1.1735;
Resistance: 1.2070; 1.2260;

The euro recorded an increase against the dollar on Tuesday. However, the growth was not significant, so the pair stayed at last week's levels, trading in a relatively narrow range. If the bullish mood persists, the resistance at 1.2395 will be tested. The session started at 1.2261 and the final was 37 pips up. Peak of the day was recorded at 1.2305.

Key levels to watch for:
Support: 1.2161; 1.2111;
Resistance: 1.2395; 1.2458;

The single currency recorded a modest rise over the US dollar on Wednesday. Session started at 1.2401 and finished only 11 pips higher. Daytime extreme values ??were reached at 1.2473 and 1.2386 respectively. In the short term, the outlook remains positive, and the immediate target is 1.2560.

Key levels to watch for:
Support: 1.2370; 1.2260; 1.2070;
Resistance: 1.2560;

The single currency recorded a volatile session against the dollar on Tuesday. Finally, the opening price was close to the closing price of 1.2366 and 1.2375, respectively. At first the bullish moods prevailed, but after reaching peak at 1.2433 the direction changed. So the difference between the highest and the lowest value for the day was 120 pips. Meanwhile, support at 1.2332 was broken.

Key levels to watch for:
Support: 1.2332; 1.2249;
Resistance: 1.2539; 1.2594;

The single currency recorded a significant decline against the US dollar on Friday. The session started at 1.2505 and the price bounced from the first resistance at 1.2560. After all, the euro ended at 1.2405 and if the price continued to fall, the single currency would move to the first support at 1.2370.

Key levels to watch for:
Support: 1.2370; 1.2260; 1.2070;
Resistance: 1.2560;

The euro recorded a slight decline against the dollar on Friday. The decrease was low and so the pair remained at the level of the last two days. If the bearish moods prevail, support at 1.2231 will be pierced. The session started at a rate of 1.2329 and the single currency lost 35 pips to the final. The bottom of the day was hit at 1.2279.