As expected, the EUR/USD found support in the 55-hour simple moving average. However, by the middle of Wednesday's trading, the SMA had not managed to cause a surge. In regards to the near term future, the rate was expected to test the resistance zone from 1.2170 to 1.2190. Economic Calendar Analysis During the week, only the US Preliminary GDP on Thursday at 13:30
The EUR/USD passed the resistance of the 1.2140 level and reached for the resistance zone of the 1.2168/1.2188 levels. On Tuesday morning, the rate bounced off the resistance of the 1.2180 level and began a retracement back down. By the middle of the day's European trading hours, the exchange rate was expected to look for support in the 1.2140 mark and
The 1.2140 level stopped the EUR/USD surge on Friday. Moreover, a reversal down to the support of the 1.2100 mark occurred. On Monday, the rate recovered, as the 1.2100 mark had caused a surge. Near term forecasts were based upon whether or not the price manages to pass the 1.2140 mark. Economic Calendar Analysis During the week, only the US Preliminary GDP on
The EUR/USD reached the resistance cluster that surrounded the 1.2100 level. On Friday, this level was passed and the rate quickly reached the 1.2140 mark, which began to provide resistance. In the near term future, the rate was expected to gradually reach the zone of resistance at 1.2168/1.2188. However, it was set to face resistance of round exchange rate levels at
The decline of the EUR/USD passed the support of the 1.2050 mark and the weekly S1 simple pivot point at 1.2045. The movement ended at the 1.2025 level, which is dive pips above the February 8 low level. By the middle of Thursday's European trading hours, the currency exchange rate had recovered. Moreover, it was expected to retrace to the resistance
On Tuesday, the EUR/USD bounced off the resistance of the 1.2170 level. This was followed by a sharp decline, which by the middle of Wednesday's European trading hours had reached the 1.2060 level. Namely, a 110 pip decline had occurred. In the near term future, the rate could look for support in the 1.2050 mark, a weekly S1 simple pivot point
The recovery of the EUR/USD extended its gains on Tuesday, as the currency exchange rate reached the 1.2170 level during the morning hours. In the meantime, the most important developments occurred on the daily candle chart, as the pair broke the resistance of the 2021 channel down pattern and the 55-day simple moving average. Economic Calendar Analysis The week is expected to have
The passing of the 1.2100 level did not result in a decline to the 200-hour SMA, as the EUR/USD found support in 1.2080. On Monday, the pair had recovered to the 1.2140 level. Note that despite there being no resistance to the rate on the hourly candle chart, the pair faces a strong resistance cluster on the daily candle chart. Economic Calendar
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