The European Single Currency depreciated 0.07% against the US Dollar since last Friday. The currency exchange rate was located at the 1.1759 mark on Monday morning.
In regards to the near-term future, the rate will surge upwards to the monthly R1 at 1.1792 mark due to the support of the weekly PP at the 1.1724 and 38.20% Fibo. Moreover, the rate is also supported by the 55-hour and the 100-hour SMAs, which should help the rate to surge during the day.
Most likely, the rate will bounce off the monthly R1 during the session, but it also might move unexpectedly to other side due to Draghi Speech at 13:00 GMT.
Comment:
The European Single Currency appreciated 0.15% against the US Dollar since Tuesday’s session. The rate was located at the 1.1765 mark on Wednesday morning.
In regards to the near future, the rate should break the resistance of the monthly R1 at the 1.1765 due to support of the 55-hour and the 100-hour SMAs. It is expected that the rate will trade near the weekly R1 at the 1.1830 on Wednesday.
On the other hand, a lot of significant fundamental news will be released during the day, which might break most of the technical indicators to move downwards or upwards.
The European Single Currency appreciated 0.15% against the US Dollar since Tuesday’s session. The rate was located at the 1.1765 mark on Wednesday morning.
In regards to the near future, the rate should break the resistance of the monthly R1 at the 1.1765 due to support of the 55-hour and the 100-hour SMAs. It is expected that the rate will trade near the weekly R1 at the 1.1830 on Wednesday.
On the other hand, a lot of significant fundamental news will be released during the day, which might break most of the technical indicators to move downwards or upwards.
Comment:
The European Single Currency depreciated 1.04% against the US Dollar since Thursday’s session. The rate was located at the 1.1629 mark on Friday morning.
In regards to the near future, most likely, the rate will move down towards the monthly PP at the 1.1546 mark to trade in the 1.1580 area on Friday. The simple moving averages will try to catch up the rate to resist the European Single currency.
On the other hand, any fundamental news may change the trade direction of the currency pair to move it upwards to locate near the 1.1680 mark during the day.
The European Single Currency depreciated 1.04% against the US Dollar since Thursday’s session. The rate was located at the 1.1629 mark on Friday morning.
In regards to the near future, most likely, the rate will move down towards the monthly PP at the 1.1546 mark to trade in the 1.1580 area on Friday. The simple moving averages will try to catch up the rate to resist the European Single currency.
On the other hand, any fundamental news may change the trade direction of the currency pair to move it upwards to locate near the 1.1680 mark during the day.
The European Single Currency appreciated 0.20% against the US Dollar since Monday’s session. The rate retraced back to the 1.1767 mark during Tuesday morning hours.
In regards to the near-term future, most likely, the rate will move upwards to the monthly R1 at the 1.1792 mark but could bounce off the resistance level to move back to the weekly PP at the 1.1724. The 55-hour and 100-hour SMAs will support the rate during the day.
On the other hand, the rate might break the monthly R1 resistance to trade in the 1.1800 level near the upper boundary of the ascending trend-line.