Euro FX USD future: marked a fifth consecutive negative trading session

Euro FX USD future trading session of the 05/01/2016 ends at 1.0763 (-0.77%). Marked a fifth consecutive negative trading session.

Euro FX USD future trading session of the 05/01/2016 ends at 1.0763 (-0.77%). Marked a series of 3 consecutive higher lows. For intraday trading session the technical view is negative and leaves assume the down-trend continuation. However, we can’t exclude rebounds towards the most significant resistance levels. The major oscillators confirm the downward trend. Marked a fifth consecutive negative trading session. We suggest to monitore today closing.

Euro FX USD Future

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
The price is below the 14 days moving average (SMA value is 1.0923). The short term view is therefore bearish, however for today trading session we can’t exclude retracements towards the most significant resistance levels.
Volumes
Daily chart shows volume is lower than the previous day. This could be a sign of a significant move to come.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 05/01/2016.

Performance: 7 trading days= -1.94% – 15 trading days= -2.39% – 30 trading days= +1.28%

Resistance levels: R1= 1.0837 – R2= 1.0912 – R3= 1.1041
Pivot Point: 1.0783
Support levels: S1= 1.0708 – S2= 1.0654 – S3= 1.0525


DAILY TRADING SIGNALS

Buying opportunity above 1.0793 targets minor resistance at 1.0831 and perhaps as far as strong resistance at 1.0859, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 1.0905.

Selling opportunity below 1.0750 targets minor support at 1.0713 and perhaps as far as strong support at 1.0687, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 1.0638.