Euro Range Looks Calm

The Euro has declined in value since early September, but its recent trading has shown the ability to sustain its value in a calm and consolidated manner. Speculators may try to buy the Euro against the U.S Dollar with the thought it has reached important support and will rise in value.

Euro Sustaining Current Price Level

The Euro has continued to traverse its weaker range this week and is near the 1.16 juncture against the U.S Dollar.

EUR/USD 1H Chart
EUR/USD 1H Chart

The Euro has managed to sustain a tight range the past two weeks in a calm manner after its sudden drop in late October, and traders may be wondering if the tranquil range of the Euro is about to burst.

Mid-Term Decline in Value

Support for the Euro appears to be near the 1.1580 level mid-term, but the range of the European currency has been very consolidated the past day. Resistance for the Euro against the U.S Dollar looks to be around 1.1660.

EUR/USD 4H Chart
EUR/USD 4H Chart

A look at the mid-term for the Euro shows the decline in value which has occurred since early September.

Euro Support Holding

The question speculators and investors are asking alike, is if the Euro has now reached the bottom of its value range against the U.S Dollar?

The Euro may traverse lower as its tests support, but it has also shown the ability to sustain its current valuation levels, which may prove to be intriguing for traders who have the courage to buy the currency and anticipate a climb in price.

EUR/USD Daily Chart
EUR/USD Daily Chart

In the short term, we believe the Euro may be positive. Mid-term and Long-term we are unbiased.

Yaron Mazor is a senior analyst at SuperTraderTV.

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Yaron Mazor

Yaron has been involved with the capital markets since 1998. During the past 16 years, Yaron has been a day and swing stocks trader in the American market. Yaron has founded and made successful investments into businesses spanning exciting industries – from apparel to restaurants and bars, to high tech, medical technology and education. Ten years ago, Yaron sold all of his businesses and became a trader. Yaron started an education provider that taught thousands of people worldwide how to trade. Since then, he has traded every single day across every imaginable financial instrument Organic Trading System (OTS) is an unprecedented, new paradigm of trading technique, developed by Yaron Mazor. The trading system utilizes a combination of essential resources of market data (Fundamental, market participant sentiment and the basic concepts of trends), which are harmonically coordinated, in order to enable a relatively fast, simple and easy way to decide which side of the market to be trading from – the Buy side or the Sell side.