EURUSD ONLY

On yesterday session the EURUSD rose yet again on a wide range candle and closed near the high of the day suggesting the continuation of the bullish momentum. Although today we will have the Fed interest rate decision and the US preliminary GDP that can change traders mind set. Look out for the strong resistances at 1.1034 and 1.1097 and how the price will react to them.

Since the start of April the EURUSD rose more than 3.0% and is in a recovery phase since late April, trading well above the 10-day moving average. Yesterday the pair rose with above average volume and close in the middle of the daily range. 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.

On yesterday session EURUSD initially fell but found enough buying pressure at 1.1097 to turn around and closed near the high of the day, close to a daily resistance at 1.1232. A break to the upside of the daily resistance at 1.1232 would suggest another push higher to the next daily resistance at 1.1459. Today in most countries is Bank holiday due to the Labor Day so we may expect light trading volumes.

EURUSD initially rose but found enough resistance at 1.1237 to give all its early gains and closed in the red near the low of the day, suggesting a shooting star pattern. We may see a pullback off this recent bullish move to 1.1034 before another move upward.

On yesterday session EURUSD initially tried to rally but found strong selling pressure at Friday’s open to turn around and close near the low of the day. The bearish correction is underway with the next stop at 1.1034 if it holds.

On yesterday session EURUSD initially fell but found strong support at the 10-day moving average to bounce off it and close near the high of the day. We may experience choppy action on the pair until Friday where is due the release of the US non-farm payrolls and the unemployment rate, but stick with your bullish guns.

EURUSD rallied on yesterday session breaking above the daily resistance at 1.1236 in a strong impulsive candle. The next target is 1.1460 January low and February high that should present some challenges to the pair. The lack of choppy action is due to the market anticipating that the US non-farm payrolls and the unemployment rate will be worse than expected.

EURUSD on yesterday session had a typical profit taking day ahead of the US non-farm payrolls and unemployment rate. The pair initially rose making new high but found enough selling pressure to reverse and close in the red near the low of the day. Key levels to watch today are the support at 1.1097 and the resistance at 1.1460.

EURUSD fell on Friday session after a better than expected US non-farm payrolls and unemployment rate. The currency initially rose but found enough selling pressure to give all its gains and close in the red near the low of the day, on a narrow range day. We may see a pullback toward the daily support at 1.1097 before another move upward.

EURUSD fell on yesterday session for the 3rd day in a row. The currency fell and closed in the red near the low of the day, on a 2nd narrow range day, showing that the downward move is losing momentum as the Greek government remains hopeful that the talks will lead to vital aid being released, which will enable the country to avoid default.

On yesterday session EURUSD rose and close in the green in near the high of the day, above the 10-day moving average. The currency is still in a recovery phase and stochastic is showing a slight bearish to neutral momentum but still above the 50 mid line.

Expecting an upward move to year high at 1.1459 on a break above previous day high at 1.1278 (scenario 1) or a break below the daily support at 1.1097 could drive the pair down to a key level at 1.0900 (scenario 2).

Since the start of May the EURUSD rose more than 1.3% and is in a recovery phase since late April, trading above the 10-day moving average. Yesterday the currency rose after bouncing off the 10-day moving average with above average volume and close near the high of the day. Stochastic is showing bullish momentum and is above the 50 mid line.

EURUSD rose on yesterday session breaking above previous swing high and close in the middle of the daily range on a narrow range day. The narrow range day is a sign of weakness in the upward momentum as the currency approaches a daily resistance at 1.1460. Today we have a light economic agenda so is a great day for retail profit taking, meaning that today should be a bearish day also with a narrow range day.

EURUSD initially fell on Fridays trading session but found enough buying pressure at Thursdays low to turn around and closed in the green near the high of the day. We are at a major daily resistance 1.1460 and we may enter in a choppy consolidation or even a pullback to the 10-day moving average at 1.1305 before another push upward. Only a clean break above 1.1556 daily resistance will signal that the currency is ready its upward trend.

EURUSD fell on yesterday session with a wide spread day and closed near the low of the day, shy above the 10-day moving average. The high momentum witnessed yesterday is suggesting that the 10-day moving average may not support the price and a break below will throw the currency to the daily support at 1.1097.

On yesterday session the EURUSD fell fast and hard after ECB statement saying that due to seasonal factors QE will be front loaded to May and June, hypothetically deposit rates could even be more negative. The currency closed near the low of the day with a wide spread day, the next support levels to watch are 1.1097 daily support, 1.1058 Fibonacci level (38.2) and 1.0972 the 50 day moving average.

EURUSD fell on yesterday session for the third day in a row but this time with a narrow range and closed near the middle of the daily range. The currency made its low at 1.1058 a Fibonacci retracement of 38.2 this suggests that is going to a consolidation mode within a daily support zone from 1.1237 down to 1.1097.

EURUSD tried to rally but found enough selling pressure near the 1.1186 Fibonacci level to give all its gains back and closed in the green near the open of the day, creating an inverted hammer pattern. This pattern is considered bullish so we may expect another push upward today.

On Friday session the EURUSD tried to rally but found yet again enough selling pressure near the 1.1186 Fibonacci level to give all its gains back and closed in the red near the low of the day, creating an outside day pattern. This pattern is considered neutral so indecision may create choppy action in the market.

Yesterday session the EURUSD did not move much due to worldwide bank holiday but still manage to make a doji pattern on the 50-day moving average. A break below 1.0972 the 50-day moving average may trigger a dive to a Fibonacci retracement (61.8) at 1.0853.