EURUSD: Traded a choppy range of 1.1860/1.1770 on Thursday
|EURUSD: 1.1792
€/Usd has traded a choppy range of 1.1860/1.1770 on Thursday, after the ECB left rates on hold, with Draghi’s upbeat Press Conference sending the Euro briefly to its highs before the dollar strengthened after the strong RS/jobs data, closing at familiar territory, just under 1.1800.
1 hour/4 hour indicators: Turning higher
Daily Indicators: Turning lower
Weekly Indicators: Neutral
Preferred Strategy: With little data due today, and with the momentum indicators offering little help in either direction, a rangebound session seems most likely. Use 1.1740/1.1830 as a guide. Further out, the weeklies still suggest we could see a stronger dollar at some stage, but don’t get too excited yet.
| Resistance | Support | ||
| 1.1939 | 1 Dec high | 1.1770 | 100 DMA/Session low |
| 1.1903 | (76.4% of 1.1960/1.1717) | 1.1760 | 55 DMA |
| 1.1865 | (61.8% of 1.1960/1.1717)/Session high | 1.1729 | 13 Dec low / Rising trend support |
| 1.1845 | Minor | 1.1716 | 12 Dec low |
| 1.1825 | Minor | 1.1707 | (61.8% of 1.1553/1.1943) |
Economic data highlights will include:
German Wage Price Index, EU Trade Balance, US New York State Empire Mfg Index, Capacity Utilisation, Industrial Production.
Interested in EURUSD technicals? Check out the key levels
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