EUR/USD Daily Technical Analysis

The euro was down against the US Dollar on Friday. At the close of trading session EUR/USD is traded at 1.1029, shedding by 0.83%. I believe that the support is now located at the level of 1.1014, Monday's low, and resistance is likely to be the level of 1.1166 - the maximum of Thursday.

The single currency marked a decrease on Friday and erased most of its weekly gains. The euro depreciated by 49 pips to a closing price of 1.1068. The pair continues to move in the range defined by the levels at 1.1185 and 1.1020, as negative attitudes prevail.

The single currency started the week with a moderate growth of 28 pips to 1.1074. The daily movement marked a one-week low at the level of 1.1037, then the price has recovered to 1.1083. EUR/USD continues to trade within a familiar zone once a day as a breakthrough of levels at 1.1185 or 1.1020 will indicate the prevailing sentiment.

The euro recorded a decrease against the dollar during yesterday's session, which came out to loss from the beginning of the week. The pair fell 55 pips to a closing price of 1.1019. The price remains below averages, while the index of relative strength lost ground. Main target appear to be the levels of psychological barrier at 1.1000.

The pair remained without any significant changes during yesterday's session, continuing to consolidate around the psychological level at 1.1000. The euro traded within 1.1029 and 1.0981 over a three-week bottom, and ultimately lost 7 pips to 1.1012. The prevailing sentiment continues to be negative, but given the impossibility of breaking the ongoing movement range, a recovery to average values is possible.

EUR/USD was trading close to unchanged yesterday, within relatively narrow range. The pair marked a slight increase of 10 pips to a closing price of 1.1023 and the intraday extremes respectively at 1.1057 and 1.0979. The respetive bottom for second consecutive day acted as a support, although during the day Mario Draghi hinted for possible further monetary stimulus later this year.

The single currency recorded a decreased against the US dollar on Friday. The session started at 1.1023 and the pair lost 50 pips at a closing price of 1.0973. The price broke through the first support at 1.0980. In the short term outlook remains negative, the graph continues to develop under the moving averages.

On Wednesday and Thursday EUR/USD tested the important level around 1.0980, trying to form a double bottom on the daily chart. A break below 1.0910 will confirm the end of the four-week period of consolidation and will pave the way for a test of support 1.0800- 1.0750 dollars.
On the other hand, if the pair goes back above key resistance 1.1050-80 dollar break through 1.1190, it will allow the pair to test 1.1420-30.

The sungle currency marked a slight increase the US Dollar on Monday. The pair added 21 pips at a closing price of 1.0993. After a volatile session, the price broke the first resistance at 1.0980. Next target appears to be the resistance at 1.1100.

The single currency recorded a slight decline against the US dollar on Tuesday. The session started at 1.0994 and closed at 1.0985. The graphics continue to develop under the moving averages, while the relative strength index remained on neutral territory. If the downward trend continues we may expect a break of the support at 1.0980.

The single currency marked an increase against the US dollar on Wednesday. The session started at 1.0985 and closed 72 pips higher. The intraday high was reached at 1.0961 and the low at 1.1064. If the keep the direction, we mayn expect a test of first resistance at 1.1100.

The euro rose against the dollar on Thursday. By the end of the trading session EUR/USD was trading at 1.1076, gaining 0.14%.
I believe that the support is now located at the level of 1.0950, Monday's low, and resistance is likely at 1.1119 - a maximum of today's trading.

Tomorrow morning, European banking organization (EBA) will publish the results of stress tests, but the markets are waiting for this event without much interest. EUR/USD reversal points is about the 1.1175/1.1200, where are the highs of the current range.

The single currency marked a modest rise against the US dollar on Thursday. The session started at 1.1057 and closed only 18 pips higher. The graphics continue to develop over the moving averages, while the relative strength index remaine in neutral territory. Should the pair continue to move up, most likely will try test the first resistance at 1.1100.

The euro rose against the dollar on Friday. At the closing of trading session EUR/USD has traded at 1.1174, gaining 0.88%.
I believe that the support is now located at the level of 1.0950, Monday's low, and resistance is likely at 1.1197 - a maximum of Friday's trading.

The EUR/USD continued to restore the level of 1.1170, further rise is unlikely for the pair. Particular attention should be paid to the rate of inflation next week, because ECB will be guided by it when adopting additional easing measures at the next meeting.

Euro recorded successful session against the US dollar on Friday. Thus the single currency recovered from losses in the previous session and neared the resistance at 1.1219. If bullish sentiment continue to dominate, it will be broken soon. The session on Friday opened at 1.0972 and the the euro gained 205 pips to the end of the session. In early trading hours the trend was neutral, but the direction was changed in the afternoon and the pair reached intraday high at 1.1196.

The euro marked a neutral session against the US dollar on Monday. The single currency remained at the high levels since the end of last week, but couldn’t break the resistance at 1.1219.

The single currency justified the positive expectations and continued the positive momentum from the last week. As a result, EUR/USD broke the first resistance at 1.1219, and the session closed around these levels.

The euro gained positions against the dollar on Tuesday. The session started at a price of 1.1160, while the euro gained 61 pips. The maximum of the day was reached at the rate of 1.1233 shortly before the end of trading.