During Friday’s trading session, the European Single Currency was resisted by the 55-hour simple moving average to pass the support level of the weekly S1 at 1.1238. On Monday morning, the rate was trading between the 200-hour SMA and the monthly S1 at the 1.1305 mark.
It is expected that the currency exchange rate will trade sideways between the 55-hour and the 200-hour simple moving averages to stay at the 1.2800 level.
On the other hand, the resistance of the 200-hour SMA could push the rate to pass through most of the technical indicators to the 1.1260 level.
It is expected that the currency exchange rate will trade sideways between the 55-hour and the 200-hour simple moving averages to stay at the 1.2800 level.
On the other hand, the resistance of the 200-hour SMA could push the rate to pass through most of the technical indicators to the 1.1260 level.
Comment:
During the previous trading session, the currency exchange rate was supported by the simple moving averages to break the resistance level of the weekly R1 at 1.1345. On Wednesday morning, the rate was located above the weekly R1 at the 1.1345 mark.
It is expected that the European Single Currency will appreciate against the US Dollar to the 1.1400 level. Besides, the weekly R1 at 1.1345 should support the surge during the day.
On the other hand, during today’s US FOMC Meeting Minutes release at 19:00 GMT, the European Single currency could depreciate against the US Dollar to stay at 1.1360.
During the previous trading session, the currency exchange rate was supported by the simple moving averages to break the resistance level of the weekly R1 at 1.1345. On Wednesday morning, the rate was located above the weekly R1 at the 1.1345 mark.
It is expected that the European Single Currency will appreciate against the US Dollar to the 1.1400 level. Besides, the weekly R1 at 1.1345 should support the surge during the day.
On the other hand, during today’s US FOMC Meeting Minutes release at 19:00 GMT, the European Single currency could depreciate against the US Dollar to stay at 1.1360.
Comment:
During Wednesday’s trading session, the European Single Currency was trading sideways to stay at the 1.1320 level.
In regards to the near-term future, most likely, the currency exchange rate will pass the resistance of the weekly R1 at 1.1345. The 100-hour simple moving average should support the surge during the day.
However, the European Single Currency could depreciate against the US Dollar during today’s US Durable Goods Orders and Core Durable Goods Orders at 13:30 GMT to pass through the 100-hour SMA towards the 200-hour SMA at the 1.1307 mark.
During Wednesday’s trading session, the European Single Currency was trading sideways to stay at the 1.1320 level.
In regards to the near-term future, most likely, the currency exchange rate will pass the resistance of the weekly R1 at 1.1345. The 100-hour simple moving average should support the surge during the day.
However, the European Single Currency could depreciate against the US Dollar during today’s US Durable Goods Orders and Core Durable Goods Orders at 13:30 GMT to pass through the 100-hour SMA towards the 200-hour SMA at the 1.1307 mark.
Comment:
On Friday, the European Single Currency was trading between the 55-hour and the 100-hour simple moving average at the 1,1340 mark.
In regards to the near-term future, most likely, the 100-hour simple moving average will support the rate to push it to the 1,1360 level.
On the other hand, the resistance level of the weekly R1 at 1,1345 could resist the currency exchange rate to pass through the SMAs to the 1,1300 level.
On Friday, the European Single Currency was trading between the 55-hour and the 100-hour simple moving average at the 1,1340 mark.
In regards to the near-term future, most likely, the 100-hour simple moving average will support the rate to push it to the 1,1360 level.
On the other hand, the resistance level of the weekly R1 at 1,1345 could resist the currency exchange rate to pass through the SMAs to the 1,1300 level.
During Monday’s trading session, the currency exchange rate was trading sideways to stay at 1.1300. On Tuesday morning, the European Single Currency was trading above the monthly S1 at the 1.1307 mark.
In regards to the near-term future, most likely, the rate will be trading sideways to stay between the weekly R1 at 1.1345 and the weekly PP at 1.1289.
However, the resistance of the 200-hour simple moving average could push the rate to pass through most of the technical indicators to trade at the 1.1260 level.