EUR/USD Daily Technical Analysis

On Monday session the single currency recorded unsicnificant decline after a relatively volatile session. The pair was trading between 1.0635 and 1.0551, and and the end euro lost 20 pips to a closing price of 1.0612. Currently the sentiment is neutral, the pair formed range of 1.0640 - 1.0560.

In my opinion, the next level will be 1,0525.

On Thursday session the euro recorded significant gains against the dollar as the intraday erased most of November’s losses. The euro retained its growth today against other major currencies after yesterday recorded its biggest one-day rise of nearly seven years amid weaker than expected stimulus from the ECB.

On Friday session the single currency recorded a slight decline against the dollar on Friday and lost 63 pips. The session started at a price of 1.0937. The data on unemployment in US for November was crucial. The price bounced back, but at the end of the session the pair ended in red at a price of 1.0874.

The single currency recorded a modest decline against the dollar on Monday, losing 37 pips. The pair recorded a volatile session and managed to break through the first support at 1.0854. The graphics continues to develop over moving averages, while the relative strength index remained in neutral territory. If the bearish trend continues, the pair will try to break the next support at 1.0676.

Goldman Sachs still expect parity in EUR/USD
The forex strategists of Goldman Sachs revised upwards their forecast for the euro, but still expect it to reach parity with the dollar in the next 12 months.
From Goldman Sachs reviewed quarterly expectations for EUR/USD of $1.02 to $1.07, semi - from $1.00 to $1.05, and 12-month - from $0.95 to $1.00.

Morgan Stanley: Sell EUR/USD after the Fed meeting.

The single currency recorded an increase against the dollar on Tuesday. The session started at 1.0836 and ended 54 pips higher. After steady upward movement the price managed to break the first resistance at 1.0854. If the pair justify the positive expectations, the price will continue its upward movement.

Support: 1.0854; 1.0676; 1.0548; Resistance: 1.0975;

On Wednesday session the single currency recorded strong growth against the US dollar. The session started at 1.0890 and ended at 1.1024. The daily extremes were 1.0878 and 1.1041. If the upward trend continues, we may expect a test of the first resistance at 1.1106.

On Thursday, the euro recorded a decrease against the US dollar. The session started at 1.1024, but afterwards followed downtrend and the pair ended at 1.0939. The graphics continue to develop above the moving averages, while the index of relative strength remained at neutral territory. If the pair meet negative expectations, as expected, the downward trend will continue.

Great day for the euro on Thursday!

I wonder if there will be surprises next week...

In my opinion, the next target will be 1.0900.

The single currency recorded a successful session against the dollar on Friday. The pair tested the resistance at 1.1040, but didn’t break through it. If expectations for a new bullish momentum come true, the key level will be overcome soon. Session on Friday started at 1.0939 as bullish sentiment prevailed from the beginning. Top of the day was reached at 1.1029, and session finished at 1.0988.

The euro reflected modest gains on Friday, erasing some of its losses from the previous session after currency traders continued to support the likelihood of a rise in interest rates this week.
Demand for the dollar was still strong.
On Friday, the currency pair traded between 1.0926 and 1.1030 before settling at a price of 1.0988.

The single currency recorded a minor increase against the dollar on Monday. The session was dynamic and as a result the resistance at 1.1040 was pierced. The pair reached tip of the day at 1.1047 and immediately afterwards, however, the price was corrected and session closed at 1.0990. If short-term expectations for the new positive momentum of the euro justify, the key levels will again be overcome.

Societe Generale expect correction of EUR/USD, but not a change of the trend. They believe that in the short term risks are aimed at restoring to $ 1.11, but there is some possibility for correction to $ 1.13.

The euro is losing ground against the dollar on Tuesday. As a result, the pair managed to break through the support at 1.0912. Although the single currency retreated against the dollar, short-term expectations remain in its favor. If they are justified resistance at 1.1070 could be tested. Tuesday session started at 1.0990, initially bulls prevailed and currencies peaked at 1.1059. Subsequently the direction was changed and ultimately came to a final price of 1.0928.

The single currency recorded a volatile session against the dollar on Wednesday. Ultimately, the euro retreated, but the decrease was not significant. Meanwhile, the support at 1.0902 was pierced. If bearish sentiment continue in the future, the pair will test the level at 1.0838. Trading day on Wednesday started at a price of 1.0928, as the trend was relatively neutral to the beginning of long-awaited meeting of the US Federal Reserve. After that currencies fluctuate widely, the difference between the highest and lowest value for the day was 107 pips.