The weekly R1 simple pivot point, the 55-day SMA and the upper trend line of the large scale channel down pattern have held. The EUR/USD rate has retreated to the support of the 100-hour SMA and the 1.2100 mark. In the case of the rate passing the 1.2100 level's support, the rate could reach for the 200-hour simple moving average
The EUR/USD failed to pass the resistance of the weekly R1 simple pivot point, which was located at 1.2140. In the meantime, the rate was approached by the support of the 55-hour simple moving average. The SMA could provide the needed technical support for the rate to pass the pivot points resistance. Economic Calendar Analysis On Thursday, at 13:30 GMT the US weekly
On Wednesday, the EUR/USD was testing the resistance of the weekly R1 simple pivot point at 1.2140. Meanwhile, the rate was being approached by the support of the 55-hour simple moving average, which at mid-day was located near 1.2090. Future forecasts were based upon whether the rate passes the resistance of the pivot point. Economic Calendar Analysis The EUR/USD could move due to
The decline of the EUR/USD reached the 1.1953 level before it began a retracement back up. In the near term future, the decline was expected to continue, as the 55-hour simple moving average approaches the pair. A decline of the pair would aim at the weekly S3 simple pivot point at 1.1946. Economic Calendar Analysis The week will end with the US monthly
The 55-hour simple moving average provided enough technical resistance for the EUR/USD currency exchange rate to decline and pass the support of the weekly S2 simple pivot point and the 1.2000 mark. In the near term future, the rata was expected to continue to decline, as it had no technical support as low as the weekly S3 simple pivot point at
On Wednesday, the EUR/USD was finding support in the 1.2010/1.2020 zone. In the meantime, resistance was provided by the 1.2050 mark. In the near term future, the rate was expected to approach the rate and provide additional resistance, which could push the pair down. Economic Calendar Analysis On Wednesday, the US ISM Non-Manufacturing PMI could cause a move from 10.4 to 16.9
On Tuesday, the EUR/USD dropped below the support of the weekly S1 simple pivot point. The move was caused by the publication of the European Union's Preliminary GDP data. The Euro depreciated against the US Dollar, following the EU Prelim Flash GDP data release on Tuesday at 10:00 GMT. The EUR/USD exchange currency rate lost 30 pips or 0.25% after the
After bouncing off the resistance of the 1.2150 level on Friday, the EUR/USD began a decline. By the middle of Monday's trading, the decline had found support in the weekly S1 simple pivot point at 1.2070. The near term future scenarios depended on whether or not the pivot point managed to hold. Economic Calendar Analysis On Monday, the US ISM Manufacturing PMI at
On Thursday afternoon, the EUR/USD currency exchange rate began to test the resistance levels that were located from 1.2125 to 1.2140. At mid-day on Friday, the rate was making its third attempt to pass these levels. The near term future depended on whether or not the pair passes the resistance of the 1.2140 mark. Economic Calendar Analysis Next week, on Monday, the
Since the middle of Wednesday's trading hours, the EUR/USD has traded sideways in a 50 pip range between 1.2130 and 1.2080. In the near term future, the sideways trading was expected to continue. Economic Calendar Analysis On Thursday, January 28, the US Advance GDP data is set to be released at 13:30 GMT. Also, the US Unemployment Claims data will be published
During Tuesday's trading hours the EUR/USD currency exchange rate revealed that it can no longer be impacted by the hourly simple moving averages. Meanwhile, the rate showed that it respects the support and resistance of round exchange rate levels. On Wednesday morning, the pair had retreated and once again tested the support of the 1.2120 level. Economic Calendar Analysis On Wednesday, January 27,
On Tuesday morning, the EUR/USD currency exchange rate revealed that the support of the 200-hour SMA is incapable of keeping the rate up. Namely, the rate passed the support and touched the 1.2110 level. By the middle of the day's European trading hours, the currency exchange rate had bounced off the 1.2110 level and retraced up to the 1.2140 mark. Economic Calendar
On Monday morning, the EUR/USD currency exchange rate bounced off the resistance of the 1.2180/1.2190 zone. This resulted in a decline to the support of three technical levels near 1.2140. By the middle of the day's GMT trading hours, the price had recovered to the 55-hour simple moving average, which was located at the 1.2163 mark. Economic Calendar Analysis Most of notable
Since Friday early hours, the EUR/USD currency pair has been testing the weekly R2 at 1.2185. If the given resistance holds, the pair could bounce off the weekly PP at 1.2130. Economic Calendar Analysis This week will end with the US Manufacturing and Services PMIs at 14:45 GMT.The next week is expected to be relatively calm in regards of the economic calendar. Most
The EUR/USD currency pair continues to trade within the medium-term descending trend. From a theoretical perspective, it is likely that some downside potential could prevail in the market. Economic Calendar Analysis This week, the top event for the EUR/USD is set to occur.On Thursday, at 12:45 GMT the ECB Main Refinancing Rate is scheduled to be published. In addition, at the same time
The rate passed the resistance of the 1.2130/1.2140 zone. Afterwards, the pair reached the 1.2160 mark, which provided resistance on Wednesday morning. By the middle of the day's trading hours, the rate had retreated to the 100-hour simple moving average at the 1.2114 level. Economic Calendar Analysis This week, the top event for the EUR/USD is set to occur. On Thursday, at 12:45
On Monday, the EUR/USD bounced off the support of the 55-day simple moving average, which strengthened the 1.2050 level. The following recovery reached for the resistance of the zone, which previously provided support. Namely, the December 21 and January 8 low level at 1.2130/1.2140. At mid-day on Tuesday, the near term future was dependant on whether or not the resistance zone
As forecast, the EUR/USD was pushed down by the hourly simple moving averages. Moreover, a sharp surge started as soon as the support of the 1.2120 mark was passed. At mid-day on Monday, the currency exchange rate's decline had reached the 1.2060 level. Economic Calendar Analysis This week, the top event for the EUR/USD is set to occur. On Thursday, at 12:45 GMT
The resistance of the 55 and 100-hour simple moving averages was strong enough to cause a decline of the EUR/USD below the support of the 1.2140 mark. However, the rate found support in the 1.2120 level. At mid-day on Friday, the currency exchange rate was located just above the 1.2120 mark. In the near term future, the SMAs could push the
The 55-hour SMA failed to provide support to the EUR/USD on Wednesday, as the rate retreated to the support of the 1.2140 mark. This level has been providing the rate with support since the middle of Monday's European trading hours. In the near term future the support could fail due to the additional resistance of the 100-hour simple moving average, which
The sideways trading of the EUR/USD currency exchange rate ended and resulted in a surge to the 1.2220 level. On Wednesday morning, the rate bounced off this level and declined to the 55-hour simple moving average at 1.2175. Near term forecasts were based upon whether or not the SMA provides support. Economic Calendar Analysis During the week there will be minor data sets
On Monday, the weekly S1 simple pivot point at 1.2161 failed to provide support. The EUR/USD reached the 1.2140 level, which stopped the pair's decline. Since then, the rate has been trading sideways between 1.2140 and 1.2180. In the meantime, the pair was being approached from above by the 55-hour simple moving average. Economic Calendar Analysis During the week there will be minor
The first of the short term scenarios for the EUR/USD currency exchange rate has become reality, as the rate declined and reached the 1.2160 level by the middle of Monday's GMT trading hours. At the 1.2162 level, the pair encountered this week's simple S1 weekly pivot point, which could provide the rate with support. Economic Calendar Analysis During the week there will be
On Friday morning, the EUR/USD currency exchange rate passed the support of the weekly simple pivot point at 1.2236 and reached the 1.2220 mark. Meanwhile, the rate had no technical support as low as the weekly S1 pivot point at 1.2653. Due to that reason the pair could look for support in round exchange rate levels. Economic Calendar Analysis This week will end