The European Single Currency depreciated 0.33% against the US Dollar since Friday’s session. On Monday morning, the rate was located below the monthly PP and the weekly PP at the 1.5878 level.
In regards to the near future, the rate will move downwards to the weekly S1 at the 1.1511 level during the session. Most likely, the 55-hour simple moving average will give an additional resistance for the rate to downtrend.
However, the ISM Manufacturing PMI data release at 14:00 GMT could push the rate to go upwards to the monthly PP at 1.1649 or pass the support of the weekly S1 at the 1.1511 level on Monday.
In regards to the near future, the rate will move downwards to the weekly S1 at the 1.1511 level during the session. Most likely, the 55-hour simple moving average will give an additional resistance for the rate to downtrend.
However, the ISM Manufacturing PMI data release at 14:00 GMT could push the rate to go upwards to the monthly PP at 1.1649 or pass the support of the weekly S1 at the 1.1511 level on Monday.
Comment:
The European Single Currency appreciated 0.17% against the US Dollar since Tuesday’s session. On Wednesday, the rate was located between the 55-hour and the 100-hour simple moving averages at the 1.1587 mark.
In regards to the near future, the resistance of the 100-hour simple moving average will push the rate to go downwards passing through the 55-hour simple moving average to trade near the weekly S1 at the 1.1511 level during the day.
On the other hand, the rate might break the 100-hour SMA and use the 100-hour SMA as support to surge upwards to the monthly PP at the 1.1649 level.
The European Single Currency appreciated 0.17% against the US Dollar since Tuesday’s session. On Wednesday, the rate was located between the 55-hour and the 100-hour simple moving averages at the 1.1587 mark.
In regards to the near future, the resistance of the 100-hour simple moving average will push the rate to go downwards passing through the 55-hour simple moving average to trade near the weekly S1 at the 1.1511 level during the day.
On the other hand, the rate might break the 100-hour SMA and use the 100-hour SMA as support to surge upwards to the monthly PP at the 1.1649 level.
Comment:
The European Single Currency depreciated 0.49% against the US Dollar since Wednesday’s session. On Thursday, the rate was located below the monthly S1 at the 1.1485 mark.
During Thursday’s session, the European Single Currency will trade sideways due to the resistance of the monthly S1 and the weekly S1, together with the support of the 50.00% Fibo at 1.1460 mark. Most likely, the rate will trade at the 1.1500 mark during the session.
On the other side, the rate might break the weekly S1 at 1.1511 level to trade near the 1.1520 mark during the day.
The European Single Currency depreciated 0.49% against the US Dollar since Wednesday’s session. On Thursday, the rate was located below the monthly S1 at the 1.1485 mark.
During Thursday’s session, the European Single Currency will trade sideways due to the resistance of the monthly S1 and the weekly S1, together with the support of the 50.00% Fibo at 1.1460 mark. Most likely, the rate will trade at the 1.1500 mark during the session.
On the other side, the rate might break the weekly S1 at 1.1511 level to trade near the 1.1520 mark during the day.
Comment:
The European Single Currency appreciated 0.33% against the US Dollar since Thursday’s session. During Friday morning hours, the rate was located near the monthly S1 at the 1.1507 mark.
On Friday, the European Single Currency will trade at the range of the 1.1500 level and the 1.1450 level. The 55-hour SMA and the monthly S1 should resist the rate from the surge. Most likely, the rate will be located at the 1.1450 mark due to the 50.00% Fibo support, which should keep the rate in the range.
However, fundamentals at 12:30 GMT on Friday, may break the predictions. Watch out for the news!
The European Single Currency appreciated 0.33% against the US Dollar since Thursday’s session. During Friday morning hours, the rate was located near the monthly S1 at the 1.1507 mark.
On Friday, the European Single Currency will trade at the range of the 1.1500 level and the 1.1450 level. The 55-hour SMA and the monthly S1 should resist the rate from the surge. Most likely, the rate will be located at the 1.1450 mark due to the 50.00% Fibo support, which should keep the rate in the range.
However, fundamentals at 12:30 GMT on Friday, may break the predictions. Watch out for the news!
The European Single Currency depreciated 0.67% against the US Dollar since Monday’s session. On Tuesday morning, the rate was located near the weekly S1 at the 1.1534 mark.
In regards to the near future, the rate will keep moving downwards until the currency pair will reach the weekly S1 at the 1.1511 mark. Most likely, the rate will bounce off the weekly S1 due to its support. The rate might trade at the 1.1500 level on Tuesday.
Besides, none of the technical indicators can prevent the trading pair from downside movements during the trading session.