Euro US Dollar technical view is negative. Selling opportunity below 1.0492 targets minor support at 1.0456.
Euro US Dollar Friday, December 30, 2016 close was at 1.0519 (-0.44%). Inside bar pattern has been drawn on daily chart. 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 do not confirm the downward trend.
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Simple Moving Average (SMA)
Prices are above the 14 days moving average (SMA value is 1.0467).
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 30/12/2016
Performance: 7 trading days= +0.78% – 15 trading days= -1.16% – 30 trading days= -1.11%
Resistance levels: R1= 1.0572 – R2= 1.0625 – R3= 1.0711
Pivot Point: 1.0539
Support levels: S1= 1.0486 – S2= 1.0453 – S3= 1.0367
Buying opportunity above 1.0543 targets minor resistance at 1.0581 and perhaps as far as strong resistance at 1.0606, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 1.0652.
Selling opportunity below 1.0492 targets minor support at 1.0456 and perhaps as far as strong support at 1.0430, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 1.0381.