The single currency is undermined in a weak greenback environment and the EUR/USD dropped to 1.1826. The near term outlook remains bearish if the pair break below 1.1820.
The greenback seems to be recovering. EUR/USD dropped to daily low at 1.1805 on Friday but later slightly recovreed. However the pair closed at 1.1820. We have buisy week ahead both from US and EU, so let’s see how the pair will handle.
The single currency registered a modest decline over the US dollar on Friday. The session started at 1.1829 and the euro lost 11 pips. The chart continued to grow above the moving averages, while the relative strength index remained neutral. If the downward trend continues, the euro will probably break the first support at 1.1735.
The euro / dollar made an upward movement last week with a peak of 1.1879, but closed a little lower at 1.1818. The signals are neutral, but slightly downward to testing support 1.1750. Clear breaks and daily closures below this level may clear the way to zone 1.1670. The main upward trend remains valid, but we need a clear breakthrough and daily closing above 1.1900 for a potential end of the current downward correction phase and the resurgence of the bullish trend for the 1.2000 - 1.2090 test.
The EUR/USD dropped today to 1.1735, but recoved to currenlty trade at 1.1765. The short term outlook remains bullish, confirmed by the indicators on the four hour time frame.
The single currency recorded an increase against the US dollar on Wednesday. Session started at 1.1765 and the price bounced back from support at 1.1735. After all, the euro ended at 1.1786 and if the price continued to rise the pair would head to the first resistance at 1.1910. Otherwise, in the downside, we may expect a breakthrough in support at 1.1735.
EUR/USD is up today, but stalled at the 200-day SMA. Indicators are retreating from the overbought territories. Nevertheless I’m positive on the pair. 1.1820-1.1830 is critical, but I believle bulls will fight it.
The short term outlook for the EUR/USD pair remains bearish. The price is developing below its moving averages and indicators are located withing extreme oversold conditions.
EUR/USD moved slightly higher today, but couldn’t fight the 1.18 handle and reterated to 1.1760. The pair will stay in wait and see mode until ECB meeting this Thursday.
EUR/USD ticked up today after the better than expected numbers on German IFO. The pair is currently trading at 1.1778, but let’s see if will be able to fight the resistance at 1.18.
On Thursday, the euro rose in price against the dollar before the ECB meeting, which could end the period of the soft monetary policy of the European Central Bank. The dollar exchange rate has receded from the recent highs. The pair EUR/USD rose y 0.14% to 1.1827, retreating from the minimum for two weeks of 1.1724, recorded on Monday.
The euro rose on Thursday, while investors are waiting for details about the plans of the European Central Bank to start winding down the program of buying up bonds, while the dollar made a breather after the recent rally. The euro gained 0.16 percent against the dollar to $1.1831, moving away from Monday's two-week low at $1.1725.
After Draghi today the EUR/USD plunged to currently trade around 1.17. I think the pair will extend its decline towards the support at 1.1690 and in case of breaking it, next bearish challenge will be 1.1660.
