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.
The pair is likely to be squeezed in narrow range; a possible trading range is 1.2350/10.
The 1.23 area should be watched carefully, as the bottom boundary of the senior channel is located there.
A reversal from a down-trend near the March high of 1.2467 could point to a possible decline during the following sessions.
The Greenback strengthened against its European counterpart, following the US core durable goods orders data released on Friday.
The Greenback strengthened against its European counterpart, following the US core durable goods orders data released on Friday.
The Euro strengthened against the Greenback, following the release of the EU trade balance report.
The Euro strengthened against the Greenback, following the release of the EU trade balance report.