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It will remain bearish scenario existed during the coming sessions, with the reminder that the main objectives of the anticipated start at 1.0800 and extends to 1.0645, with reference to that stability below 1.1050 is a key requirement to achieve the proposed goals.
Expected trading range for today between 1.0800 support and 1.1050 resistance range
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EUR/USD. The bias is bearish in nearest term but we need a clear break below 1.0940 area to trigger further
bearish pressure aiming 1.0850 key support area. Immediate resistance is seen around 1.1010 area, another
consistent break above that area would bring the price to neutral zone as direction would become unclear in
nearest term perhaps retesting 1.1070 area.
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The euro against the dollar traded passively this morning to begin attempts to break the barrier of 1.0900, reinforcing expectations of continued downward trend in the coming period, which depends on the negative impact of the head and shoulders pattern shown image, along with pressure from the SMA 50.
Thus, we will keep the bearish trend scenario rest of the day steadily price below the level of 1.1050, with the main Instant our goal first at 1.0800.
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The euro fell against the US dollar as expected after it indicated negative RSI receding upward momentum index. Daily closing below 50% Fibonacci extension at 1.0934 reveals the way for the 61.8% level at 1.0808 .bdla of it, move above the 38.2% Fibonacci at 1.1059 paving the way for expansion of 23.6% at 1.1214
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Hi now we look a resistance from bullish to get up EUR/USD but bearish are yet strong go down to this pairs EUR/USD so if bearish take this deal so EUR/USD can go down to a target 1.0698 must continue to be attentive before take order position. good luck for all and best regards
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A break of 1.0895 will facilitate the task of achieving the proposed goals, while breaking the 1.0754 level will put the price under further negative pressure on the intraday and short term
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After the sharp fall last Friday classes, prices stagnated on Monday while the day was public holiday in many countries. There have been few economic indicators in the program and even less important indicators on Monday. From this point of view the week will commence Tuesday orders for durable goods in the US.
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EUR/USD. The bias is bearish in nearest term but we need a clear break below 1.0850 area to trigger further
bearish pressure aiming 1.0780 key support area. Immediate resistance is seen around 1.0935 area, another
consistent break above that area would bring the price to neutral zone as direction would become unclear in
nearest term perhaps retesting 1.0975 area.
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Daily Forecast
Major Trend: Bearish
Time Frame: H1
Reason: The possibility of a surge in prices on the news g7 meeting. However, if viewed from TF daily, the market is still going down. There are areas that have not been corrected at 1.1050
Recommendation: Sell limit at 1.1050
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The euro against the dollar finished yesterday's trading below the level of 1.0900, which provides further support for the bearish scenario in the short term, and who gets the continued support from the SMA 50, pending skip our first goal, which resides at 1.0800 to open the way towards 1.0640.