The common European currency has not still gathered the necessary momentum to breach the 55-hour SMA.
The common European currency fell to a new five-month low early on Wednesday, thus testing a short-term trend-line.
The 55-hour SMA should continue guiding the pair in this session.
The Euro was pressured by the 55-hour SMA early on Monday which is likely to push EUR/USD lower.
The pair likely to edge higher during the morning session, while being guided by the US GDP release later in the day.
The Euro has fallen to a four-month low of 1.2165 this morning; thus, some recovery is likely today.
The common European currency was pressured lower by the 55-hour SMA early on Wednesday.
Slight downside potential could be apparent during the first part of the day; however, the Euro should eventually recover.
No strong resistance/support clusters are located nearby, so the Euro might move both directions.
The Euro breaching the 200-hour SMA could point to some bearish sentiment in this session.
The pair remains trading along the 55-hour SMA towards the senior channel.
The breaching of the 55-hour SMA is likely to be followed by bearish momentum.
Bearish pressure should prevail during the second part of the day.
Despite the resistance of the 55- and 100-hour SMAs, there is some upside potential apparent in this session.
EUR/USD is likely to remain between the 55- and 200-hour SMAs today.
The common European currency continues to move in a short-term ascending channel.
The Sterling managed to shot up to a senior trend-line circa 1.4220 early today, so a reversal might occur.
The pair is expected to respect a two-week channel and edge lower.
The common European currency has returned at the breached senior channel; more likely to move south.
An advance above the 1.2280 mark is restricted by 55- and 100-hour SMAs.
The common European currency remains pressured from above by the 55- and 100-hour SMAs near 1.23.
The Pound continues to move in a narrow range between the 55-, 100- and 200-hour SMAs.
The pair continues to move along the senior channel; upside is restricted by the 200-hour SMA near 1.2352.
The pair remains stranded between the senior channel and the combined resistance of the 100- and 200-hour moving averages.