EUR/USD Daily Technical Analysis

The single currency started the week with a rise against the dollar, adding nearly 60 pips to a closing price of 1.1243. The session was held in the extremes at 1.1247 and 1.1147. The price managed to overcome the average values, while the relative strength index moved to positive territory, hinting for bulls in the short term. For additional growth, however, is needed a break of 1.1290.

The single currency remained unchanged against the dollar on Tuesday, ending the session at 1.1246. EUR/USD marked a movement within the extreme values at 1.1280 and 1.1194. The price remains above average values, while the index of relative strength - in positive territory, which currently support the bulls. A break of 1.1290 will however confirm the positive attitudes.

The single currency registered a decrease against the US dollar on Wednesday and was trading at a price of 1.1175 at the end of the session. Thus euro wiped out all of its gains since the beginning of the week. The daily extremes were reached respectively at 1.1260 and 1.1157. The price went below average values, while the index of relative strength remain in negative territory.

On yesterday’s session the pair continued its downward movement from Tuesday. At the start of session bottomed at 1.1134 but finally the Euro managed to recover, recording moderate growth to a closing price of 1.1193. Additional gains were limited at 1.1208. Currently, the outlook remains neutral, as a break of the respective peak will open the opportunity to test the 100 period moving average at 1.1245. On the downside 1.1080 remains main target.

The single currency ended the week with a small increase of 9 points. The pair registered a volatile session due to the US employment report. The resistance at 1.1290 endured the test and daily extreme levels were recorded respectively at 1.1150 and 1.1317. Currently the expectations are negative as next target is the levels at 1.1180.

USD depreciated by 0.73% to 1.1271 EUR/USD. The dollar index DXY decreased 0.61% to 95.52.

The euro began the second day of the week with a significant increase against the US dollar. Bulls prevailed and the single currency rebounded from support at 1.1180. The euro added 84 pips at a closing price of 1.1269 points. If the price continues to rise, the pair will reach the first resistance at 1.1290.

The pair recorded a decrease on Wednesday session. The price went down from the start of trading day and the euro lost 34 pips. The graphics continued to develop over moving averages, while the relative strength index remained neutral. If the downward trend continues, the price will reach the support at 1.1180.

The single currency registered an increase on Thursday. After a volatile session the euro added 39 pips at a closing price of 1.1275. Extreme values for the day were reached respectively at 1.1234 and 1.1325. if the neutral trend of the past two weeks continues, it is possible to test the first support at 1.118.

The euro recorded a second consecutive increase against the dollar on Friday. On the last working day of the week the bulls prevailed and took the pair to significantly higher levels. As a result, resistance at 1.1325 was broken. Short-term indicators remain in favor of the single currency, and the breakthrough of the key level at 1.1436 is highly probable. Session on Friday started a price of 1.1274, and the euro added 77 pips. Peak of the day was reached at 1.1386.

The euro registered a neutral trade against the dollar on Monday. The pair kept the higher values reached on Friday, while short-term indicators continue to support the positive momentum of the single currency. In this case can be expected breakout of the resistance at 1.1436. The new week started at 1.1361 and the session ended 4 pips below. Peak of the day was reached around noon at 1.1396.

The euro recorded an increase against the dollar on Tuesday. The single currency justified the short-term expectations and resume the upward move from the end of last week. There is high probability for testing the resistance at 1.1436. Tuesday session started at 1.1357 and the bullish sentiment was most intense in the early hours. As a result, currencies reached a peak for the day at 1.1410. Subsequently followed a correction and the session finished at 1.1378.

The euro marked increase against the dollar on Wednesday. The session was very successful for the single currency, and bulls prevailed from the beginning to the end of trading. As a result, the resistances at 1.1436 and 1.1460 were broken. If the positive momentum continue in the future, currencies will test key level at 1.1559. Wednesday session started at 1.1378 and finished with 95 pips higher. Peak of the day was reached shortly before the end of the trading day, at 1.1478.

The euro recorded a decrease against the dollar on Thursday. Thus, the single currency lost the accumulated profits from the previous session. If negative direction continue we may expect soon break of support at 1.1171.The session on Thursday started at 1.1472 and the bullish trend prevailed from the start. Bottom of the day was hit at 1.1363, and the session ended at 1.1382.

The single currency recorded a second consecutive negative session against the dollar on Friday, depreciating by nearly 30 pips to 1.1353. The daily extremes were reached respectively at 1.1394 and 1.1334. For the week the currency pair remained without significant change, after failing to overcome the psychological barrier at 1.1500. For the moment, the pair continues to trade above the upward moving averages, but the relative strength index suggests weakness of the bulls. A break of 1.1350 will likely test 1.1315.

The single currency reported a third consecutive day of decline against the US dollar on Monday, alongside expectations of increasing monetary stimulus by the ECB later in the week. The euro depreciated by nearly 30 pips to a closing price of 1.1325. The daily extremes were reached respectively at 1.1378 and 1.1305. A break of yesterday's low will increase the current negative attitudes, as immediate target is the 100-period average at 1.1280.

Yesterday EUR/USD broke the negative series and recorded a successful first session of the last four. The euro rose by 20 pips to a closing price of 1.1344 after trading within the extreme values 1.1386 and 1.1323. Overall markets are waiting the meeting of the ECB, which is supposed to hint about further monetary stimulus including an increase in quantitative easing by year-end. Technical attitudes are neutral with immediate levels at 1.1315 and 1.1370.

The single currency remained without any significant changes against the dollar on Wednesday, and was trading at 1.1337 at the end of the session. Daily extreme values were reached in a relatively narrow range, respectively 1.1377 and 1.1334. All are waiting for Mario Draghi’s comments today that are expected to pull down the euro, given the recent deterioration of the German economy and deflation in the Eurozone. Technically pair remains under the sword 50-period moving average, but to reinforce negative attitudes need to break 1.1280. Technically the pair remains below the 50-period moving average, but a break of 1.1280 will reinforce the negative attitudes.

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The single currency recorded its worst performance against the dollar since January, losing over two figures during yesterday's session to a closing price of 1.1107. The pair traded at levels of one-month low at 1.1100, while the highest point was reached at 1.1350. The ECB left its monetary policy unchanged yesterday, but Draghi’s intention to continue with incentives later in the year dragged the euro. The price went below average values, while the index of relative strength hints oversold market. Confirmed break of 1.1080 will enable further decline.