EURUSD ONLY

EURUSD fell for the second straight day on yesterday session and is gazing the 1.0680 level on the last day of the quarter, as Greece list of reforms is far from ideal and once again it just drags out the negotiations, bringing us closer to the point at which Greece’s defaults on its debts, which could come as early as 9 April when a repayment of €450 million is owed to the IMF.

Last month EURUSD fell more than 4.0% and is in a bearish phase, trading below the 10-day moving average. The pair initially fell during yesterday session but found enough support at a Tuesday’s low to turn around and closed near the open of the day, creating an inside day pattern. Stochastic is showing bearish momentum but is still above the 50 level.

EURUSD rose on yesterday session closing well in the green near the high of the day and above the 10-day moving average. Today we will have low liquidity due to Good Friday bank holiday in Europe and Oceania however in the US the nonfarm payrolls and the unemployment rate are due today late morning. The bank expects expect the unemployment rate to remain unchanged at 5.5% and the nonfarm payroll job growth of 220K in March, which is below the consensus forecast of 245K.

EURUSD rose on Friday’s session but found enough selling pressure at a Fibonacci retracement level to turn around and close in the middle of the daily range. Stochastic is showing bullish momentum and is still above the 50 level.
We may expect an upward move toward a resistance zone at 1.1236 on a break above the Fibonacci level at 1.1034 (scenario 1) or a bounce from a Fibonacci level at 1.1034 could throw the pair back down to the upward trend line at 1.0845 (scenario 2).

EURUSD initially rose but found enough resistance at the 50-day moving average to turn around and close near the low of the day. The pair is being squeezed between the 10-day and the 50-day moving averages and on a break of either moving averages we may expect a sharp move in the direction of the break.

EURUSD fell on yesterday session on above average volume and closed near the low of the day. The pair in the short-term is still respecting the upward trend line and making higher lows.
All eyes turned to the FOMC minutes later today and one of two things can happen, a Hawkish comment setting the date for interest rate hike and pushing the EURUSD to year lows or a Dovish approach that may pull the pair to the 1.1034 resistance zone.

EURUSD fell on yesterday session after the release of the latest FOMC Minutes, as they were perceived slightly less dovish and a June rate hike is still possible. So we may expect the resumption of the downward trend to the next target at 1.0680.

The USD strengthen after better-than-expected US initial jobless claims and continuing jobless claims putting pressure on the EURUSD that fell fast and hard on yesterday session. If the 1.0622 support do not hold it may continue the downside momentum to the next support level at 1.0462.

EURUSD fell on Friday’s session for the 4th straight day and close in the red on the middle of the daily range. The entered a daily support zone [1.06220 | 1.04620] and we may see some choppy action until a clear breakout of this area. On Tuesdays we will have the US Retail sales and on Wednesday we will have the ECB Monetary policy statement and press conference that my set the tone for the rest of the week.

EURUSD initially tried to rally but found enough selling pressure at 1.0622 to turn around and move downward where it also did not stayed for long, closing in the middle of the daily range. The pair is trading within this daily support zone [1.06220 | 1.04620] also known of “no man’s land” and choppy trading is to be expected until a clear breakout of this area.

EURUSD rose on yesterday session after disappointing US Retail Sales but found enough selling pressure at 1.06806 Fibonacci level (23.6) to give back some of its gains but still closing near the high of the day. It was a typically news driven movement and the downward trend is still intact. A close above the 10-day moving average may shift the short-term trend.

Since the start of April the EURUSD fell more than 0.5% and is still in a bearish phase, trading below the 10-day moving but bounce-off year low making an inside day. On yesterday session the pair initially fell but found enough buying pressure at Tuesday open to turn around and close near the high of the day. Stochastic is showing an oversold market but displaying bullish momentum and is below the 50 level.

On yesterday session, EURUSD initially fell again but found enough buying pressure at 1.0622 daily support to turn around and close in the green near the high of the day. The pair is now trading well above the 10-day moving average and is ready to move to the 50-day moving average at 1.0887 or even go for the 50% Fibonacci retracement at 1.0925.

On the fundamental side all eyes are on the Eurozone and US Consumer Price Index (CPI) looking for clues on the inflation situation and the preliminary Reuters/Michigan Consumer Sentiment Index may also spur a volatile session.

EURUSD rose on Friday’s session breaking above the 1.0815 Fibonacci level but found enough selling pressure to give some of the early gains however close in the green at the middle of the daily range. The pair is making lower highs and higher lows a sign of consolidation and the stochastic is flat but above the 50 mid line.

EURUSD fell on yesterday session, driven by concerns about Greece debt situation and the Eurogroup meeting on April 24th but many officials have suggested an agreement that will grant Greece a new tranche of aid is unlikely before May 11. The pair closed near the low of the day and the stochastic is showing bearish momentum coming in to the market.

EURUSD initially fell but found enough support at 1.0680 Fibonacci level to turn around and close at the open creating a Doji pattern. We may expect choppy trading ahead of the Eurogroup meeting on April 24th. The pair is being squeezed between the 10 and 50-day moving average.

Yesterday the EURUSD initially rose after a bounce on the 10-day moving average but found enough selling pressure at 1.08 psychological level to turn around and close in the red near the low of the day. We continue to see choppy trading while we wait for the Eurogroup meeting tomorrow, the 24th of April. The pair is still being squeezed between the 10 and 50-day moving average.

Yesterday the EURUSD initially fell but found support again at 1.0680 to turn around and close in the green near the high of the day, shy of the 50-day moving average. Today we may see a phase change in the pair from bearish to recovery as traders position them self’s ahead of today’s Eurogroup meeting. A break above the 50-day moving average can trigger a run up to the 1.1034 resistance level.

On Friday the EURUSD initially fell but found enough buying pressure at the 50-day moving average to turn around and close in the green near the high of the day, above of the 50-day moving average. Today we may see may see a pullback toward the 50-day moving average before another move upward. The next key levels to watch in the short-term 1.0925 and mid-term at 1.10345.

On yesterday session EURUSD initially fell but found enough support at 1.0816 to turn around and close in the green in the middle of the daily range, creating a doji candle. The pair changed from a bearish to a recovery phase. Stochastic is showing an overbought market but even with the pair well into overbought territory, we should not fight the strong upward correction just yet.

Expecting an upward move to a Fibonacci level at 1.1034 on a break above previous day high at 1.0926 (scenario 1) or a break below the 10 and 50-day moving average could drive the pair down to a Fibonacci level at 1.0680.