The European Single Currency depreciated 0.14% against the US Dollar since Friday’s session. During Monday morning hours, the rate was resisted by the 55-hour SMA at the 1.1498 mark.
In regards to the near-term future, most likely, the European Single Currency will trade downwards to the monthly S1 at the 1.1482 level. It is expected that the rate will bounce off the monthly S1 support level to keep trading in the pattern at the 1.1480 level during the day.
However, the monthly S1 support may push the rate to break the upper boundary of the medium descending pattern line to trade at the 1.1520 level.
In regards to the near-term future, most likely, the European Single Currency will trade downwards to the monthly S1 at the 1.1482 level. It is expected that the rate will bounce off the monthly S1 support level to keep trading in the pattern at the 1.1480 level during the day.
However, the monthly S1 support may push the rate to break the upper boundary of the medium descending pattern line to trade at the 1.1520 level.
Comment:
The European Single Currency appreciated 0.04% against the US Dollar since Tuesday’s session. On Wednesday morning, the currency pair was located between the 55-hour and the 100-hour SMAs at the 1.1494 mark.
In regards to the near-term future, most likely, the European Single Currency will trade sideways due to the resistance of the 200-hour SMA and the support of the monthly S1 at the 1.1482 mark. The rate should stay at the 1.1500 level during the day.
However, the 200-hour SMA could resist the currency exchange pair to pass through the monthly S1 to trade near the 50.00% Fibo on Wednesday.
The European Single Currency appreciated 0.04% against the US Dollar since Tuesday’s session. On Wednesday morning, the currency pair was located between the 55-hour and the 100-hour SMAs at the 1.1494 mark.
In regards to the near-term future, most likely, the European Single Currency will trade sideways due to the resistance of the 200-hour SMA and the support of the monthly S1 at the 1.1482 mark. The rate should stay at the 1.1500 level during the day.
However, the 200-hour SMA could resist the currency exchange pair to pass through the monthly S1 to trade near the 50.00% Fibo on Wednesday.
Comment:
The European Single Currency appreciated 0.29% against the US Dollar since Wednesday’s session. On Thursday morning, the currency pair broke the resistance of the weekly PP to trade at the 1.1541 mark.
In regards to the near-term future, most likely, the European Single Currency will trade upwards facing the weekly R1 at the 1.1611 level. The simple moving averages and the weekly PP at 1.1537 mark will support the rate during the day.
However, today’s fundamentals news could push the rate to go downwards to the monthly S1 at the 1.1482 mark.
The European Single Currency appreciated 0.29% against the US Dollar since Wednesday’s session. On Thursday morning, the currency pair broke the resistance of the weekly PP to trade at the 1.1541 mark.
In regards to the near-term future, most likely, the European Single Currency will trade upwards facing the weekly R1 at the 1.1611 level. The simple moving averages and the weekly PP at 1.1537 mark will support the rate during the day.
However, today’s fundamentals news could push the rate to go downwards to the monthly S1 at the 1.1482 mark.
Comment:
The European Single Currency appreciated 0.56% against the US Dollar since Thursday’s session. During the previous session, the currency rate surged to the weekly R1 at the 1.1611 mark. During Friday’s morning hours, the rate almost reached the weekly R1 to trade at the 1.1587 mark.
In regards to the near-term future, most likely, the European Single Currency will try to break the resistance of the weekly R1 to trade near the monthly PP at the 1.1620 level during the trading session.
However, the weekly R1 resistance could stop the rate from surge to change the rate’s direction to move the currency pair to trade at the 1.1580 level on Friday.
The European Single Currency appreciated 0.56% against the US Dollar since Thursday’s session. During the previous session, the currency rate surged to the weekly R1 at the 1.1611 mark. During Friday’s morning hours, the rate almost reached the weekly R1 to trade at the 1.1587 mark.
In regards to the near-term future, most likely, the European Single Currency will try to break the resistance of the weekly R1 to trade near the monthly PP at the 1.1620 level during the trading session.
However, the weekly R1 resistance could stop the rate from surge to change the rate’s direction to move the currency pair to trade at the 1.1580 level on Friday.
The European Single Currency depreciated 0.47% against the US Dollar since Monday’s session. On Monday morning, the currency pair passed the support of the monthly S1 to trade at the 1.1476 mark.
In regards to the near-term future, the European Single Currency will stay at the 1.4600 level due to support the 50.00% Fibo which should retrace the rate to go upwards to the monthly S1 during the day. Most likely, the 55-hour and the 100-hour SMAs will stop the rate from surge to trade at previously mentioned level.
On the other hand, the rate could pass the 50.00% Fibo to use it as resistance to trade closer to the weekly S1 at the 1.1450 mark.