Friday’s Dec 13th midday analysis -13.00 GMT

Euro retraced a bit in the Asian session and after touching Tuesday’s and Wednesday’s lows at 1.4650 it started to move lower without looking back, it covered already 175 points and has reached the 1.4500 support area; a failure to break lower early in the US session will most likely start a consolidation range if not a small retracement, considering we have reached the short term projected target at the 100 Fibonacci Expansion level seen on the chart.

Cable made a lower high just before the UK markets opened this morning and after that it sunk more than 200 points towards the 2.0200 area. A continuation lower in the US session will get the pair even closer to the previously mentioned 2.0200 support and if the momentum remains intact we could see a test of the 2.0180 monthly low.

EUR/USD Technical View

EurUsd started to move lower on Thursday after failing to print a new high, the 1.4700 area proving to be tough resistance; the pair has got very close to the ascending trendline connecting two October swing lows and a break below this will open up at first the 1.4500 area as the next bearish target followed by the 38.2 Fibonacci Line at 1.4380. The downside momentum has increased and now we just have to wait and see if its strong enough to break the support level and make a new monthly low.

Resistance Levels

• 1.5000– round number
• 1.4966- Nov 23rd high
• 1.4735 –Nov 9th High

Support Levels

• 1.4500- round number
• 1.4300 – Sept 30th High
• 1.4000 – Round number
• 1.3850 – July 24th High

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Thursday’s Dec 13th midday analysis -13.00 GMT

Euro broke through the 1.4700 support and is getting close to the support offered by the ascending trendline connecting last Friday’s and Tuesday’s lows, a move below this will reinforce the short bias and many traders will start looking at lower levels for tomorrow.

Cable found support at the 2.0400 area and has already tested the trendline that connects 2 swing lows and a break below will be in line with our expectation. We look at the 2.0365 area as the next bearish target and main support zone.

EUR/USD Technical View

EurUsd formed an inside green bar on the daily charts on Wednesday, failing to print a new high but managed to close the day a few points above the 1.4700 round number. We are in the same situation as yesterday and while we are trading below this weeks highs we expect the pair to resume it’s down move, first target is the 1.4600 level before getting closer to last weeks lows at 1.4525 and that ascending trendline we have marked on our daily chart seen below. Conversely a push above 1.4770 will force us to look at future resistance areas and will bring forward the current YTD high at 1.4967 as the main bullish target.

Resistance Levels

• 1.5000– round number
• 1.4966- Nov 23rd high
• 1.4735 –Nov 9th High

Support Levels

• 1.4500- round number
• 1.4300 – Sept 30th High
• 1.4000 – Round number
• 1.3850 – July 24th High

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Wednesday’s Dec 12th midday analysis -13.00 GMT

Euro made a lower high today,trading within yesterday’s range and although it spiked above 1.4700 it found resistance at the round number and we are expecting to see downside pressure in the US session.

Cable retraced  after yesterday’s sharp fall but has found resistance at the 50.0 Fib line of the 2.0670/2.0180 down move.  Same as in EurUsd we  expect the US dollar to strengthen and push the pair lower, first target is the 2.0365 now turned into support and below that we have the 2.0300 round number.

EUR/USD Technical View

EurUsd slipped lower in yesterday’s US session and failed to reach last weeks high at 1.4770, after the FED interest rate announcement it actually fell below the 1.4700 round number. So far today it has retraced to the middle of Tuesday’s range but we are once again trading below 1.4700 and expect the pair to resume it’s down move, first target is the 1.4600 level before getting closer to last weeks lows at 1.4525 and that ascending trendline we have marked on our daily chart seen below. Conversely a push above 1.4770 will force us to look at future resistance areas and will bring forward the current YTD high at 1.4967 as the main bullish target.

Resistance Levels

• 1.5000– round number
• 1.4966- Nov 23rd high
• 1.4735 –Nov 9th High

Support Levels

• 1.4500- round number
• 1.4300 – Sept 30th High
• 1.4000 – Round number
• 1.3850 – July 24th High

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EUR/USD Technical View

EurUsd moved higher in the US session yesterday and printed a new high in today’s asian session at 1.4750. While trading below last weeks high point at 1.4770 we consider this to be a retracement move and as far as technical analysis is concerned we expect a move to retest the lows; on the othe rhand we have to take into consideration that later on today we have the FED interest rate announcement that can have a big effect in the markets, a surprise there can and will bring huge volatility to all pairs and especially the EurUSd, so with this in mind we advise caution until tomorrow.

Resistance Levels

• 1.5000– round number
• 1.4966- Nov 23rd high
• 1.4735 –Nov 9th High

Support Levels

• 1.4500- round number
• 1.4300 – Sept 30th High
• 1.4000 – Round number

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Monday’s Dec 10th midday analysis -12.30 GMT

Euro started the week slowly trading inside Friday’s range and only well in the Uk session the pair pushed higher and touched the 1.4700 level. A continuation north has the 161.8 Fibonacci Expansion line as target at 1.4740 very close to the 1.4770 resistance.

Cable shot up when the european markets opened this morning and broke above the 2.0365 resistance and touched the 50.0 Fibonacci retracement line of the 2.0670/2.0180 down move. Next intraday resistance is the 61.8 FIb of the above mentioned move at 2.0484 just below the 2.0500 round number.

EUR/USD Technical View

EurUsd formed a doji bar on the weekly chart finding support at an ascending trendline connecting higher lows and getting very close to the 50.0 Fibonacci retracement line of the move up from 1.4000 to the YTD high at 1.4967. The pair moved higher for the first two days of the week and after that we saw a big down move on Wednesday that continued until the ECB rate announcement on Thursday after which the pair started to move up again and finally closed the week very close to the opening levels from Sunday night. Having an oversold status on the daily and 4 hour timeframes we can expect the 1.4600 support level to hold and while above that we should look for a retest of Tuesday’s high at 1.4770. On the other hand if the pair slips below 1.4600 the next support is the 1.4500 area where we can observe the 50.0 Fib line mentioned above and the ascending trendline, all of these should offer some decent support and a break under it could trigger a much bigger move.

Resistance Levels

• 1.5000– round number
• 1.4966- Nov 23rd high
• 1.4735 –Nov 9th High

Support Levels

• 1.4500- round number
• 1.4300 – Sept 30th High
• 1.4000 – Round number
• 1.3850 – July 24th High

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EUR/USD Technical View

EurUsd moved lower in the European session on Wednesday and found support at an ascending trendline connecting 2 October swing lows and after the ECB rate announcement the pair pushed back up to retest the other trendline we’ve been mentioning, a trendline that now has turned into resistance and so far it has held the pair below it. Until Euro break above yesterday’s high point at 1.4660 we maintain our bearish bias and expect a tight range today until the US NFP numbers get released and perhaps even a second try at breaking the 1.4500 support area.

Resistance Levels

• 1.5000– round number
• 1.4966- Nov 23rd high
• 1.4735 –Nov 9th High

Support Levels

• 1.4500- round number
• 1.4300 – Sept 30th High
• 1.4000 – Round number
• 1.3850 – July 24th High

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