EUR/USD Daily Technical Analysis

The euro was down against the US Dollar on Friday. By the close of US trading EUR/USD was trading at 1.0562, shedding by 0.18%. I believe that the support is now located at the level of 1.0492, Wednesday's low and resistance is likely at the level of 1.0637 - Monday's high.

EUR/USD closed Friday lower, but today is seen some recovery and the current market price is 1.0579. The immediate downward pressure still exists as long as the pair holds below the resistance at 1.0620.

EUR/USD was trading mixed yesterday, having reached daily high at 1.0630, but later retreated below 1.0600. The political instability impact the euro, but in case the US dollar weakens euro bulls might be seen with renewed strength.

On Tuesday, trading in Europe is relatively quiet. In anticipation of the President's speech the United States, major currency pairs traded in limited price ranges.
EUR/USD is trading at 1.0598 against the average price of 1.0586 of intraday range 1,0565-1,0607. Although the desire of eurobulls to resume the offensive does not inspire much optimism, the euro on dips is in demand.

Yesterday the EUR/USD was trading elevated before Trump’s speech and marked high at 1.0630. But seems that Mr President surprised markets and boosted the US Dollar and stocks higher. Currently the pair is trading at 1.0530 and technical indicators confirm the bearish tone.

The short-term outlook for EUR/USD is remains bearish. The pair broke below 1.0520 support line and next leg to downside will come with testing the key level at 1.0500.

Bulls appear to have lost strength and the EUR/USD pair tested the multi-week low at 1.0495. Slight recovery is seen this morning and the current market price is 1.0523. Immediate resistance is located at 1.0530 and in case of breaking it, further recovery would be possible towards 1.0550 area.

The dollar changed unsignificantly near a seven-week high against other major currencies. Traders are taking profits after the recent rise of the dollar. The dollar has a growing against the probability of a US interest rate hike this month.
EUR/USD rose by 0.15% to 1.0550, moving away from the previous session week low at 1.0492.

On Friday, the dollar fell against other major currencies. Traders continued to take profits after a recent rise in price of the dollar to a maximum of seven weeks. However, the depreciation of the dollar is limited because of the increasing likelihood of higher interest rates in the US this month. EUR/USD rose by 0.48% and closed the week at 1.0621.

Key levels to watch for:
Support: 1.0470; 1.0380; 1.0550;
Resistance: 1.0660; 1.0800;

EUR/USD was seen higher today, but was unable to hold above 1.0600. Currently the pair is testing lows around 1.0578. Meanwhile technical indicators are loosing strength. Immediate support is seen at 1.0525 area and in case of breaking below it, further downslide could be extented towards 1.0500.

EUR/USD bounced off the lows and now is seen hovering around 1.0600. It’s not sure whether the bulls will find enough strength to hold above this line. Since the beginning of February the pair is moving to downwards and in case of breaking below the key support at 1.0550, EUR/USD will be poised to decline further.

Yesterday teh EUR/USD pair was trading within tight range. Currently the outlook remains unchnaged and the pair continues to consolidate. Technical indicators have lost momentum and in the short term bearish sentiment prevails.

On Tuesday, the single currency recorded a modest decline against the US dollar. The session started at 1.0579 and ended 14 pips lower. If the downward trend continues, most likely the dollar will test the first support located at 1.0550. Otherwise, on the upside, the pair will go toward resistance at 1.0815.

Key levels to watch for:
Support: 1.0550; 1.0370;
Resistance: 1.0815; 1.0980.

EUR/USD is moving to downside and currently is trading at weekly lows around 1.0535 – 1.0530. The euro is under pressure ahead of the ECB meeting, while the US dollar is generally stronger. As no surprised from ECB are expected, the pair is more likely to move even lower towards the 1.0500 handle.

EUR/USD moved higher afer the US macro data released on Friday. The pair marked 3-week high, but yet remains capped by the major resistance at 1.0700.

The euro rose against the US dollar on Friday. By the close of US trading, EUR/USD was trading at 1,0678, gaining 0.96%. I believe that support is now at around 1.0523, Thursday's low, and resistance is likely at 1.0699, the high of Friday's trading.

Yesterday the EUR/USD pair marked intraday high at 1.0713, but closed lower around 1.0650. Short term indicators remain bearish, but ahead of FOMC outcome I doubt to see the pair below 1.0600.

EUR/USD is currently gravitating around 1.06 handle. From fundamental viewpoint markets attention today will be focused on elections in the Netherlands and mostly on the announcement of the interest rate of Fed.