EUR/USD Daily Technical Analysis

The single currency recorded a decline against the dollar on Friday. The session started at 1.1107 and ended 96 pips lower. The graphics continued to develop under the moving averages, while the index of relative strength remained in the oversold area. For now, the bears are leading, but the ongoing movement will need a break of the first resistance.

The single currency recorded a modest increase against the dollar on Monday. The session started at 1.1007 and ended 45 pips higher. Daily extreme values were recorded respectively at 1.1003 and 1.1067. The graphics continued to develop under the moving average. On the upside, break of 1.1080 will move the pair to the resistance at 1.1180.

The single currency recorded a modest decline on Tuesday. The session started at 1.1052 and finished only 6 pips lower. Tip of the day was recorded at 1.1077 but overall the upward movement was hampered by the failure to overcome resistance at 1.1080. In the case that the direction of movement continue to move up, we can expect another attempt to test the first resistance.

The single currency recorded a sharp decline at the end of the session on Wednesday. Trading started at 1.1045 and finished 119 pips lower after the Fed signaled an increase in key interest rates in December. If the downward trend continues, the euro will move to the first support at 1.0854.

The single currency registered an increase on Thursday. The graphics continued to develop under the moving average, while the index of relative strength remained in neutral territory. Trading started at 1.0926 and ended 60 pips higher. For the moment, the view remains positive, as the next target appeared levels at 1.1080.

The euro recorded an insignificant increase against the dollar on Friday. The session was dynamic, and the pair gave indications for the continuation of the bullish trend from the previous day. After reaching a peak for the day at 1.1070, however, the single currency lost ground. The session ended at 1.1002, while the euro gained only 17 pips. If the upward direction continue, the currencies will make a test of resistance at 1.1095.

The euro registered a neutral trading against the dollar on Monday. The pair started the session at higher levels and vary within extremely narrow range throughout. The start was given at a price of 1.1033, and ended 19 pips below. Peak of the day was reached at 1.1052, and the difference between the highest and lowest value was 52 pips. If the single currency justify positive expectations, resistance at 1.1095 will be broken soon.

The single currency registered a slight decrease against the dollar on Tuesday.The pair moved closer to the support at 1.0894 and if bearish sentiment boost, it will be broken soon. The session started at a price of 1.1014 as at the beginning the trend was neutral. The euro started losing ground in the late morning and continue until reaching the lowest levels of the day at the level of 1.0937. The session finished at 1.0961.

The euro recorded a significant decrease against the dollar on Wednesday. The single currency registered losses for a second day and consequently both supports at 1.0894 and 1.0852 were broken. The expectations remain in favor of the US dollar, the negative trend is likely to continue until reaching the key level at 1.0806. Wednesday session started at 1.0961, and the euro finished with 98 pips lower. Bottom of the day was hit at 1.0844.

Euro registered a neutral trading against the dollar on Thursday. The single currency kept the lower levels reached in the previous session and the pair continued to trade in a very narrow range. Short-term indicators are in favor of the euro. In this case it can be expected a break of the resistance at 1.0969. Thursday session started at a price of 1.0863 and the ended at 1.0882. The difference between the lowest and highest value for the day was 63 pips.

Euro registered fifth negative against the dollar on Friday and thus the price reached six-month low. The single currency depreciated by 140 pips to 1.0743 after the good data on the labor market in the US dollar supported and strengthened speculation about raising interest rates in December. EUR/ USD found support at 1.0708, but the outlook remains negative. Possible correction of the downward trend in the short term may resume bears interest.

Today the euro started with depreciation against the dollar. The single currency depreciated to 1.0736 and headed to Friday's bottom at 1.0705.

The single currency resumed the downward direction on Tuesday and lost 27 pips against the dollar to a closing price of 1.0723. The pair recorded nearly seven-month bottom during the session at 1.0675, while the highest point was reached at 1.0763. The graphics continues to develop under downward moving averages and the relative strength index remains in favor of the bears. A break of yesterday's bottom will create a possibility for an extended downturn.

The single currency recorded a moderate growth against the dollar on Wednesday and was trading at a price of 1.0740 at the end of the session. The daily extremes were reached respectively at 1.0773 and 1.0705. Attitudes remain negative, but a break of levels at 1.0655 will confirm the dominance of the bears.

The single currency recovered significant positions during yesterday's session and is on way to record a first positive week from the last five. The euro rose by nearly 70 pips to a closing price of 1.0812. The extreme values for the session were recorded at 1.0826 and 1.0691. EUR/USD finally overcame the psychological barrier at 1.0800, as the relative strength index continued to gain positions crossing to positive territory.

The single currency recorded a decrease against the US dollar on Friday. The session started at 1.0821 and after divergent trading during the day the euro lost 71 pips. The graphics continue to develop under the moving average, while the index of relative strength remained in neutral territory. If the pair continues to move down, it is very likely to try to test the first support at 1.0676.

The single currency continued to lose against the US Dollar on Monday. The euro lost 54 pips at a closing price of 1.0685. The graphics continue to develop under the moving average, while the index of relative strength remained in neutral territory. EUR/ USD keep the downward trend, and for its continuation is needed to break the support at 1.0676.

The single currency continued to lose against the US Dollar on Tuesday. The pair opened at a price of 1.0685 after steady downtrend during the session and ultimately closed at a rate of 1.0640. The pair managed to break through the first support at 1.0676. If EUR/USD justify the negative expectations, support at 1.0548 will be broken.

It looks like the next support is 1.0548.

On Wednesday session the single currency recorded a light increase against the US dollar.The pair opened at a price of 1.0640 and after a volatile session closed at a rate of 1.0658. Daily extreme values were reached respectively at 1.0617 and 1.0692. The positive outlook still prevails, but for further gains is needed breakthrough of 1.0676.