EUR/USD Daily Technical Analysis

The single currency recorded a new drop against the dollar on Tuesday. Euro justified the negative expectations and thus plunged against the dollar for the third consecutive session. Consequently the support at 1.0795 was overcome as the pair scored bottom for the day at 1.0710. If bearish sentiment continue in the future, currencies will test key level at 1.0690. Trading on Tuesday started at a price of 1.0829. The trend was mostly bearish and the finish line was crossed at a rate of 1.0747.

The euro recovered some of the losses against the US dollar on Wednesday. The single currency broke the three-day negative series and gain some advantage over the dollar. The increase was not significant and so the pair still remains far from the level of the first resistance at 1.1003. Short-term expectations remain in favor of the euro. Wednesday session started at a price of 1.0747 and ended only with 32 pips higher. A significant increase was registered at the end of trading when was reached the peak for the day at 1.0798.

The euro started the 2015 with a break below the psychological level at 1.20. The price rebounded from a 12-year low at 1.0465. In a case of breakthrough below this level, the pair should meet the support at 1.0240 and 1.0090 - low of 07.2002 If the direction of movement reverses, a strong resistance can be expected at 1.1180, 1.1490 and 1.1760.

The euro registered a successful session against the dollar on Thursday. The single currency justified the positive expectations and continued its bullish movement, which began on Wednesday. If the bulls keep their intensity, resistance at 1.1003 will be overcome soon. The session started at a price of 1.0779, as bull prevailed. Peak of the day was reached at 1.0939 and session closed with only 10 pips below.

The single currency broke in the two-day winning streak on Friday. The pair scored a positive week, adding nearly 50 pips. Bottom for the period was reached at 1.0710. Short-term attitudes remain positive, technically the pair is likely to test levels at 1.0995.

EUR/USD registered a decrease in the beginning of the new week. The euro depreciated by 60 pips against the dollar to a closing price of 1.0858. The session was held within the extremes at 1.0968 and 1.0848. In the short term prospects seem neutral, as immediate targets appear levels at 1.0995 and 1.0805.

Euro/dollar failed to keep the upgoing momentum yesterday, closing back in the secondary trend line and hit 1.0840 earlier this morning. My expectations are for a testing of 1.0835/00 levels.

The pair practically remained unchanged during yesterday's session at 1.0856. Market participants did not set a clear direction after trading within the extreme values 1.0899 and 1.0819. Technically outlook in the short term remains neutral, as EUR/USD continues to move within the 1.0995 and 1.0805.

The next support is on 1.0690, next resistance: 1.1105

The euro added value against the US dollar during yesterday's session, gaining 20 pips to a closing price of 1.0876. The session was held in the extremes at 1.0887 and 1.0804. Inability to break the psychological barrier at 1.0800 contributes to positive attitudes. The price went above the average values as the relative strength index added positions in positive territory. 1.0995 remains the key objective upwards.

On Wednesday, the US dollar fell against the euro, breaking run of three consecutive days of gains.
EUR/USD traded in a narrow range, ending the day with a minimum increase of 18 pips at 1.0876.

The pair recorded a moderate decline on Thursday, erasing most of its gains from the previous day. Thus the price remained at familiar territory for the third consecutive session, after failing to keep the daily progress. Session peak was reached at 1.0942, while the lowest point was recorded at 1.0835. Technically the outlook for the EUR/ USD remains neutral in the short term.

As I see from the economic data, the US economy still struggles with some problems. Seems to me, that the parity is hard to reach.

And I also think, that FED themselves wouldn't allow a strong dollar for a long time.

On Friday session the single currency added value against the dollar, the price remained in wee known ranges. The pair added 54 pips and closed at 1.0917. The price moved above the moving average, while the index of relative strength remained on neutral territory. A break of the first support at 1.0854 will contribute to further decline.

The single currency recorded decrease against the US dollar on Monday. The session started at 1.0917 and ended 27 pips lower. The graphics continue to develop over moving averages, while the index of relative strength remained on neutral territory. The outlook remains negative and the levels at 1.0854 appear to be the main goal.

EUR/USD did not make significant movement yesterday. The bias remains neutral in nearest term, probably with slight bearish signals for testing the 1.0800 support. Immediate resistance is at 1.0969.

The euro recorded a modest increase against the US Dollar on Tuesday. The session started at 1.0890 ended just 16 pips higher. Daily extreme values were reached respectively at 1.0859 and 1.0938. If the euro continues to move upward, we can expect an attempt to test the first resistance at 1.0975.

EUR/USD rose on Tuesday, staying near month peak against the backdrop of ever more likely that the Federal Reserve may slow the second rise in interest rates after the International Monetary Fund lowered its global economic growth forecasts for the year.

On Wednesday session the single currency recorded a modest decline against the US dollar. After a volatile session the euro lost 18 pips. The pair failed to break the range in which was traded recently. A significant challenge for the pair downwards appear at levels 1.0854 and a possible breakthrough will enable the continuous decrease.