Dukascopy
Long

EUR/USD daily overview

FX:EURUSD   Euro / U.S. Dollar
The European Single Currency depreciated 0.33% against the US Dollar since Friday’s session. On Monday morning, the currency exchange rate was located between the SMAs, near the weekly pivot point at the 1.1624 level.

In regards to the near future, most likely, the rate should go upwards due to the support of the weekly PP at the 1.1624 mark together with the support of the 200-hour and the 100-hour simple moving averages at 1.1620 level.

However, the rate might be stopped from the surge at the 1.1660 mark where 55-hour simple moving average may resist the rate to move downwards to the weekly pivot point at the 1.1624 mark.
Sep 18
Comment:

The European Single Currency appreciated 0.85% against the US Dollar since Monday’s session. On Tuesday morning, the currency exchange rate was supported by the 55-hour simple moving average to surge upwards towards the 38.20% Fibo and the weekly R1 at the 1.1722 mark.

In regards to the near future, most likely, the rate should move downwards due to the resistance of the weekly R1 and the 38.20% Fibo. It is expected that the rate should trade at the 1.1680 level during the day.

However, the rate might ignore the resistance of the weekly R1 at the 1.1722 mark and the 38.20% Fibo to pass through them to trade at 1.1760 level on Tuesday.
Sep 19
Comment:

The European Single Currency appreciated 0.23% against the US Dollar since Tuesday’s session. On Wednesday morning, the currency exchange rate was supported by the 55-hour simple moving average and the 100-hour simple moving average at the 1.6915 mark.

In regards to the near-term future, the rate will surge upwards to break the resistance of the 38.20% Fibo and the weekly R1 at the 1.1722 mark, but most likely, will be stopped to retrace back to trade near the 1.1700 level.

On the other hand, the rate might break the 38.20% Fibo and the resistance of the weekly R1 at the 1.1722 mark to trade near the 1.1740 level.
Sep 20
Comment:

The European Single Currency appreciated 0.33% against the US Dollar since Wednesday’s session. On Thursday morning, the rate was surging upwards to the 38.20% Fibo and the weekly R1 at 1.1722 to trade at the 1.1694 mark.

In regards to the near-term future, the rate will continue to surge upwards to the 38.20% Fibo and the weekly R1 at 1.1722 mark. However, the resistance of the previously mentioned technical indicators will force the rate to trade sideways near the 1.6990 level.

On the other hand, the rate could break the resistance of the 38.20% Fibo and the weekly R1 at the 1.1722 mark to trade at the 1.1740 level during the day.
Sep 21
Comment:

On Thursday, the European Single Currency jumped against the US Dollar as it was expected. The rate ignored most technical levels to continue trading at the 1.1778 mark during Friday morning hours.

In regards to the near-term future, most likely, the rate will continue to surge upwards until the rate meets the monthly R1 at 1.1792 mark, which could bounce the rate to go downwards to the 1.1760 level during the session.

On the other hand, the rate could break the resistance of the monthly R1 at 1.1792 to trade between the monthly R1 and the weekly R2 at 1.1819 mark on Friday.
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