During Friday’s trading session, the European Single Currency was supported by the 55-hour simple moving average to trade sideways at 1.1320. On Monday morning, the rate was located at the 1.1344 mark.
In regards to the near-term future, it is expected that the European Single Currency will appreciate against the US Dollar to break the monthly pivot point at the 1.1364 mark. Besides, most likely, the rate will end the trading session at the 1.1360 level.
On the other hand, the resistance level of the monthly pivot point at the 1.1364 mark could retrace the rate to the 1.1340 level.
In regards to the near-term future, it is expected that the European Single Currency will appreciate against the US Dollar to break the monthly pivot point at the 1.1364 mark. Besides, most likely, the rate will end the trading session at the 1.1360 level.
On the other hand, the resistance level of the monthly pivot point at the 1.1364 mark could retrace the rate to the 1.1340 level.
Comment:
During Tuesday’s trading session, the currency exchange rate surged to 1.1360 level as it was predicted! On Wednesday morning, the rate was located between the 55-hour and the 100-hour simple moving averages at the 1.3437 mark.
It is expected that the 100-hour simple moving average will support the rate at the 1.1330 mark to push it to the 1.1355 mark.
In addition, today’s US Federal Funds Rate, FOMC Statement release at 18:00 GMT, might push the rate to break the resistance level of the monthly pivot point at 1.1364 to trade at the 1.1370 level.
During Tuesday’s trading session, the currency exchange rate surged to 1.1360 level as it was predicted! On Wednesday morning, the rate was located between the 55-hour and the 100-hour simple moving averages at the 1.3437 mark.
It is expected that the 100-hour simple moving average will support the rate at the 1.1330 mark to push it to the 1.1355 mark.
In addition, today’s US Federal Funds Rate, FOMC Statement release at 18:00 GMT, might push the rate to break the resistance level of the monthly pivot point at 1.1364 to trade at the 1.1370 level.
Comment:
During Wednesday’s trading session, the European Single Currency jumped to the 1.1440 level breaking most of the technical indicators to end the trading session at R2 at the 1.1420 mark. On Thursday morning, the rate depreciated to the previously drawn small pattern at the 1.1395 mark.
In regards to the near-term future, most likely, the medium pattern line will support the rate to push it to break the resistance of the R2 at the 1.1420. It is expected that the rate will end the trading session at the 1.1450 level.
Besides, the 55-hour simple moving average will try to catch up the rate to support it during the trading session.
During Wednesday’s trading session, the European Single Currency jumped to the 1.1440 level breaking most of the technical indicators to end the trading session at R2 at the 1.1420 mark. On Thursday morning, the rate depreciated to the previously drawn small pattern at the 1.1395 mark.
In regards to the near-term future, most likely, the medium pattern line will support the rate to push it to break the resistance of the R2 at the 1.1420. It is expected that the rate will end the trading session at the 1.1450 level.
Besides, the 55-hour simple moving average will try to catch up the rate to support it during the trading session.
Comment:
During Thursday’s trading session, the European Single Currency passed the support levels of the 55-hour and the 100-hour simple moving averages to end the trading session at 1.3800. On Friday morning, the rate passed through the support level of the 200-hour SMA to trade at the 1.1324 mark.
In regards to the near-term future, most likely, the rate will trade sideways to stay at the 1.1300 level. Besides, the rate might slump to the weekly PP at 1.2977.
On the other hand, the currency exchange rate might get retraced by the 200-hour SMA to pass the support level of the weekly pivot point.
During Thursday’s trading session, the European Single Currency passed the support levels of the 55-hour and the 100-hour simple moving averages to end the trading session at 1.3800. On Friday morning, the rate passed through the support level of the 200-hour SMA to trade at the 1.1324 mark.
In regards to the near-term future, most likely, the rate will trade sideways to stay at the 1.1300 level. Besides, the rate might slump to the weekly PP at 1.2977.
On the other hand, the currency exchange rate might get retraced by the 200-hour SMA to pass the support level of the weekly pivot point.
During Monday’s trading session, the European Single Currency depreciated against the US Dollar to 1.1320. On Tuesday morning, the rate recovered itself to the 1.1354 mark.
In regards to the near-term future, it is expected that the rate will surge to the monthly pivot point at the 1.1364. Besides, the rate might break the resistance level of the monthly pivot point to trade at the 1.1360 level.
However, the monthly pivot point at the 1.1364 mark could retrace the currency exchange rate to push it to the 1.1340 level.