EUR/USD Daily Technical Analysis

EUR/USD fell to 1.1180 after having marked daily high at 1.1237 yesterday. The pair was affected by the election in UK which caused huge sell-off in GBP. ECB are not going to lower rates soon, but however this didn’t supported the single currency to gain ground.

For a second consecutive session, the euro is cheaper against the dollar. The single currency lost 42 pips. The day was found at 1.1254, and in the first hours the course was moving around the resistance at 1.1256. Prior to noon, the bulls recorded their peak at 1.1268, then dropped sharply to the bottom at 1.1194. At the end of the session one euro was exchanged for 1.1212 dollars.

After having a very turbulent week with EUR/USD falling below 1.12 mark, the week ahead is suggesting a modest downward corrective movement for the pair. Anyway, the pair is not seen below 1.10 although we have Fed’s meeting on Wednesday and possible rate hike is expected.

EUR/USD fell today to 1.1190 but yet remains in tight range. Ahead of tomorrow’s FOMC meeting no changes are expected and the pair will consolidate around 1.12 mark.

EUR/USD jumped higher today, almost reaching US election level, but failed to surpass the key 1.13 mark and even went lower later. Current market price is 1.1212 and immediate resistance is seen at 1.1233. In case of breaking it, another move to the upside would be possible.

EUR/USD is poised to extend its decline, having technical readings on the 4-hour time frame. The price is well below the 20-day and 100-day SMAs, while RSI and stochastic are located within extremely oversold territory.

EUR/USD recovered from yesterday’s low and today is seen slightly higher. However the pair is hesitant and is staying within the daily range between 1.1150 and 1.1190.

The single currency recorded a decline against the US dollar on Thursday. The session started at 1.1217 and ended at 1.1144. The currency pair rebounded from the 1.1130 support and if the euro continued to lose its position against the US dollar there is a strong likelihood of a breakthrough in first support.

Euro / dollar fell yesterday, making the bottom at 1.1131. Expectations are downward in the near future. The false break above 1.1285 gave us a valid bearish signal with targets in the support region 1.1080, which remains a good place to buy with a narrow loss of loss. Immediate resistance is at 1.1200. A clear breakthrough over it could take the price to a neutral zone, but key resistance remains at 1.1285, which should be clearly pushed up for the sequel to the bullish scenario for testing at 1.1350 - 1.1425. Downwards, a clear break and a daily / weekly closing below 1.1080 would have to disrupt upward signals.

Key levels to watch for:
Support: 1.1130; 1.0980; 1.0815;
Resistance: 1.1280.

The EUR/USD pair closed the week hovering around the 1.12 mark, having the US dollar marginally higher against the single currency, backed up with the Fed’s hawikish stance. The pair failed to break the critical levels and rallies were not continued on either side. Staying within tight range seems to be game for the next week.

The euro rose against the US dollar on Friday. By the close of US trading, EUR/USD was trading at 1.1197, gaining 0.46%.
I believe that support is now at around 1.1130, Thursday's low, and resistance is likely at 1.1296, the maximum of Wednesday.

The EUR/USD failed to conquer again the 1.12 mark and ahead of US opening the pair dropped to 1.1162. In the upcoming hours the pair is more likely to continue its downward trend, having the sharp turn of the indicators to north.

EUR/USD is behaving quite neutral today having no catalyst to set clear direction. Currently the pair is trading at 1.1120 and is approaching the critical support level at 1.1100.

For the second consecutive day, the dollar took over the single currency, but this time wiped out only 14 pips. The session was volatile and the day was opened at 1.1147. At noon, the exchange rate peaked at 1.1151, then headed for support at 1.1120. For a short time this level was broken and the bears took their bottom at 1.1118. The last quotation for the day was 1.1133.

Key levels to watch for:
Support: 1.1120; 1.1050;
Resistance: 1.1256; 1.1360; 1.1440.

Despite the intraday uplifted mood today of the EUR/USD pair, technically speaking the bears are ruling the game. On the four-hour time frime the price is developing around the 200-day SMA but below the 20-day and 100-day SMAs. RSI has retreated from oversold area and is nearing its mid-line. Stochastic is uptrending, but remains below its mid-line. Immediate support is seen at the critical 1.1110 level and in case of breaking it, addtional declines are expected.

The single currency managed to get out of its negative series, earning 34 pips against the dollar. At the beginning of the day one euro was exchanged for $ 1.1133. At noon, the exchange rate recorded a bottom of 1.1127, approaching 7 pips from the first support. This provoked the bulls to become more active, and by the end of the day the rate had risen. The last quote for the day was 1.1167.

EUR/USD is not showing any vital signs today. The pair is hovering around 1.1155 throughout the day. US session might bring some change having initial jobless claims.

Uncertainty is surrounding the US dollar although Fed confirmed further rate hike. EUR/USD closed as started, hovering around 1.11 mark. Seems that bears are ruling the trend now.