EXLUSIVE IAFT ANALITICS

The EURUSD Remains in Narrow Range

The EURUSD was lowly decreasing towards the 30th figure first, then – to the level of 1.3015. Afterwards, it started increasing to the resistance at 1.3070 and dropped back to 1.3033 during the Asian session. The first day of the new trading week turned out to be like this, and there happened nothing new to the EURUSD pair. It remains in a narrow range, which will surely be broken, but hardly anyone knows the time period and the direction as well. It is indisputable that if the euro passes the support at around 1.3000, the rate will decrease towards the 29th figure. If the bulls make their way above 1.3070-1.3100, their chances to test the 1.3200 level will be dramatically increased.

Author: Anthony Porter, IAFT Analyst

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EXLUSIVE IAFT ANALITICS

The EURUSD Increases to Figure 32

Yesterday, it was a successful day for the EURUSD bulls. After the pair's another decrease to the 1.3029 support is was bought again, but this time, it is was at the full mercy of the bulls. Consequently, this euro managed to overcome the resistance of 1.3120-1.3140 and increase up to 1.3201, having increased above the level of 1.3171. Thus, the outlook has been substantially improved, and the bulls may rely on the pair's continued increase that is also proved by the Parabolic SAR below the price chart. However, there is the 100-day MA which is running at current levels, thus it may make the bulls' efforts difficult. This time, the pair is to be fixed above 1.3140-1.3120, otherwise yesterday's efforts will be in vain regarding the bulls.

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EXCLUSIVE IAFT ANALYTICS / The EUR/USD Continues to Consolidate Above Figure 30

Another day passed, and there are still no changes in the EUR/USD observed. The pair continued to consolidate in the formed range between the 1.2983 and 1.3075 levels. Therefore, there is nothing to add here, by and large — nothing to add at all. The euro is neither overbought, nor oversold. Thus, the break may occur in any direction. The growth to 1.3125 — 1.3171 should theoretically attract sellers, but there might be a change in the trend when the latter has been overcome. In case of passing the current lows at 1.2966, the next bears' target will be the level of 1.2880 will.

 

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