The Euro has rallied significantly during the trading session on Wednesday, breaking above the 50 day EMA late in trading.
The Euro fell initially during the trading session on Tuesday, but as we are starting to see on an almost daily basis, the market turned around in the middle of trading.
As series of breakouts, despite ongoing economic weakness in the Eurozone and fresh tariffs on the EU due to the latest WTO ruling, has elevated the EUR/USD off of extreme oversold conditions.
The Euro went back and forth during the trading session on Monday, showing signs of confusion and exhaustion.
The Euro rallied again during the trading session on Friday, breaking above the 50 day EMA. By doing so, this is a very bullish sign and it could lead to bigger moves.
The Euro has had a very strong session on Thursday, breaking above the 1.10 level finally.
For 5 consecutive sessions, the EUR/USD attempted to break the 1.1000 resistance, which would give it hope in a bullish correction.
The Euro rallied a bit during the trading session on Wednesday but continues to see a lot of resistance above at the 1.10 level.
For the third day in a row, EUR / USD failed to break above the 1.1000 resistance level, confirming the strength of the downtrend, and is stable around 1.0965 in early Tuesday trading.
The Euro initially was all over the place during the trading session on Monday but was essentially chopping around and floundering more than anything else.
Over the course of last week's trading, the EUR/USD fell to the 1.0880 support, its lowest level in 28 months, as pessimism about the outlook for the Eurozone economy continues, despite the ECB's stimulus plans, including interest rate cuts and asset purchase plans.
The Euro has rallied a bit during the trading session on Friday, as the jobs number came out a little bit softer than anticipated in the top line, but had several strong revisions attached to it.
The Euro tried to rally during most of the session on Thursday but gave up the gains towards the end of the session.
Continuous bearish momentum pushed EUR / USD to test the 1.0880 support, its lowest level in 28 months,
The Euro initially fell during trading on Wednesday but then turned around to show signs of resiliency as we continue to see a bit of a bottom forming.