|Day's range||1.224 - 1.227|
|52-week range||1.0497 - 1.2321|
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the 50% level at 1.2166.
The EUR/USD pair initially tried to rally, but then pulled back to reach towards the 1.22 handle. This is an area that looks likely to be supportive going forward, as we have seen a lot of bullish momentum to the upside, so I think short-term, we could be looking at a bounce.
Based on the early price action and the downside momentum, the tone of the market today is likely to be determined by trader reaction to yesterday’s close at 1.2260.
The EUR/USD pair dropped a bit during the trading session on Tuesday, as the Americans came back from the Martin Luther King Jr. holiday. The 1.22 level is offering a short-term support, but if we break down below there, I think will go looking towards even more significant support. In other words, the buyers seem to be in control longer term.
Based on the early price action, the direction of the EUR/USD today will be determined by trader reaction to 1.2296 and 1.2187.
As I explained yesterday during my Live Trading Session Recap webinar, the EURUSD was due for a retracement. And it happened exactly as planned. The pair dropped to the POC zone and we could see some profit taking now. At this point 1.2210-2220 is the zone which could spike the price up but the break below 1.2190 could target 1.2155 POC2 zone. There is a lot of confluence there and 1.2145-55 could be good for new buyers and fresh longs. If the pair gets to 1.2295 look for a continuation up towards 1.2325 and 1.2365.
The EUR/USD pair has rallied a bit during the trading session on Monday, showing signs of strength yet again. This is a strong “anti-US dollar bias” that we are seeing in the Forex markets, and I think this continues to benefit this pair.
The Euro has bounced to new highs against the U.S Dollar on the combination of better economic prospects in the European Union and lackluster inflation data from the States.
Based on the current price at 1.2275 and the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the steep uptrending Gann angle at 1.2235.
The pair rose higher on the back of a hawkish ECB and also the reports from Germany where Merkel seems to have managed to string together a coalition
The EUR/USD pair has rallied significantly during the week, finally breaking above the 1.21 handle. This is a market that looks as if it is ready to continue going higher, and therefore I think that longer-term traders are starting to put money to work yet again.
The EUR/USD pair went sideways initially, but then broke to the upside during the trading session on Friday. More importantly, we have broken out above a major technical area. I believe this foretells good things for the Euro.
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the former top at 1.2092.
Based on the current price at 1.1942 and the earlier price action, the first support is 1.1912 and the nearest resistance is a downtrending angle at 1.1988.
The EUR/USD pair initially was quiet during Wednesday trading, but then rallied towards the 1.20 level before finding selling pressure again. I expect to see more volatility, and ultimately it is very likely that we will see lots of noise.
The EUR/USD pair dropped during the trading session on Tuesday, reaching down towards the 1.19 region. The 1.19 level has been supportive in the past, as well as resistive. I believe that the market is going to continue to go higher longer-term, but there are a lot of noisy moves going back and forth.
The common European currency started conquering the markets in January; however, sustainable growth cannot occur without correction.
The EUR/USD pair fell significantly during the trading session on Monday, breaking below the 1.20 level underneath. That’s an area that has attracted a lot of attention, and the fact that we pull back like this suggests that we need to find support underneath. The “risk off” attitude of the market has favor the US dollar over the last 24 hours, but this is probably a short-term phenomenon.
Based on the early price action, the direction of the EUR/USD is likely to be determined by trader reaction to an uptrending Gann angle at 1.1996.