Thread: Euro/USD updates

July 7th, 09.

The Euro (Eur/Usd) lost a few pips throughout the first part of the overnight session on Tuesday, as it bounced from the 20-day moving average. Over the last few weeks of trading, the 20-day moving average acted as a major swing area for the euro, something that means that if the euro will break above it, the market will re-enter in a long mode.

EUR/USD July 13,2009

The pair continues it's choppy path on the hourly charts and longer.

Resistance is at 1.3980 with a break putting an initial target at 1.4020 and beyond that 1.4060.

Minor support is at 1.3930 with more support at 1.3900. A break of that level will likely test the recent swing low just below 1.3880. A fall beyond is likely to find support around 1.3850

EUR/USD July 15,2009

The pair continued it's doldrums yesterday moving in a choppy fashion once again. Being in the middle of the range this is likely to continue.

Minor support is at 1.3960, 1.3930, 1.3910 and beyond this 1.3875. Volatility has decreased, but 1.3850 and 1.3825 could come into play with news out of the US today.

A push above 1.4020 would be needed to indicate a move to the former swing high at 1.4070. 1.4100 should provide resistance beyond, as well at 1.4150.

EUR/USD 16th July 2009


The pair did push above some resistance within the longer term range yesterday which indicates a push towards 1.4200 is likely.

Support is at 1.4040 and 1.400. A bounce is likely off these levels, but there is further support at 1.3950 and 1.3900.

Resistance is likely in the 1.4160 area and beyond that 1.4200. 1.4250 should hold, if needed through today's sessions.

EUR/USD- 17th July, 2009

The pair is in range of the 1.4200 area, which is a strong resistance level. The level also marks the top of an inner range which has lasted for over a month. A break above would target 1.4300.

There is still resistance at 1.4160 though. If that is penetrated it is likely the pair will probe 1.4200.

Minor support is at 1.4100 with more support at 1.4060. If the pair were to move through that, the 1.4020-1.4000 zone should hold off further declines.