EURUSD – The pair continued its sideways move after finding a significant support at 1.3020 (S1). At the moment there is some indecision in the market therefore we chose to stay aside until we see some signal for the forthcoming move.
EURUSD - The single currency experienced a massive decline yesterday down to 1.2970 (S1). We remain neutral for today’s session as there are no clear indications for the price movement.
EURUSD – Price broke above 1.3070(R1) yesterday and challenged 1.3100(R2) area as expected. The bears were proved very strong at that level driving the price to lower levels. The picture remains unclear in the short term. If a break below 1.2989(S1) occurs we expect the price to move towards 1.2950 (S2), whilst a break above 1.3070(R1) will provide enough momentum up to 1.3131(R3).
Intraday Market Analysis
EURUSD – The pair continued its sideways move and we expect a similar behavior in today’s session. A break of both 1.3070(R1) and the downtrend line will lead at least to 1.3100(R2) area. In the case of a break below 1.2989(S2) the price will most likely dip to 1.2950 (S3), increasing the bearish bias.
Intraday Market Analysis
EURUSD – The pair penetrated the downtrend line yesterday and challenged 1.3100(R1) but it lacked momentum for a close above it. We expect the price to retest the downtrend line before any attempt to move to higher levels. We remain aside waiting for a clear indication for the price direction before taking any positions.
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Intraday Market Analysis
EURUSD – The pair retest the 1.3050 area yesterday before posting a rapid move on the upside only to stop at 1.3186(R1), not much below our very important resistance of 1.3200(R2). We expect a correction for today in an attempt for the pair to gather enough momentum in order to challenge 1.3200. In case of a break below 1.3147(S1) a short position with a very tight stop loss would be a good scenario, aiming in the area of 1.3125-20. A break above 1.3200 would be a signal for long positions.
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Intraday Market Analysis
EURUSD – Although the single currency penetrated 1.3200(R1) yesterday, an important and psychological resistance for the further upside move of the pair, it didn’t manage to hold above it. A correction is expected to occur in today’s session and we consider the area between 1.3146 – 1.3123 good for long positions targeting at least 1.3200. Our stop loss in such trades would be below 1.3100(S3). A break above 1.3200 would be a signal for long positions
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Intraday Market Analysis
EURUSD – The pair experienced a sharp decline yesterday following the ECB’s decision to reduce the rates to 0.5% and the statements of the ECB President during the press Conference that followed the announcement and barely managed to hold above the trend line. We recommend long positions at the current price targeting 1.3120(R2) with a stop loss at the break of the trend line around 1.3060. In any case we recommend closing any open positions before of the NFP announcement today as we expect the pair to experience high volatility for another session.
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Intraday Market Analysis
EURUSD – As expected, there was a high volatility during NFP announcement on Friday, but the pair managed to hold above the uptrend trend line maintaining its bullish momentum on the short term. We suggest long positions for the day at 1.3100(S1) with a stop loss a few pips below 1.3080(S2) targeting 1.3165. In the case of a break above 1.3169(R2) we favor long positions aiming 1.3200(R3).
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