All Blog Posts (1,487)

EUR/USD: Technical Analysis

The price reached 1.4260 level and even made an attempts to breach it, but this resistance proved to be strong, so it failed and the price now resides at 1.4240/30 level. Indicators suggest growth, which gives enough reasons to expect another attempt to breach 1.4260 level, and, if it happens, further uptrend and growth towards 1.4370/80 and maybe even to 1.4560/50 levels. On the other hand, even though the bearish potential has…

EUR/USD: Technical Analysis

The pair ascended up to 1.4200/10 resistance level, mentioned in the previous analysis, which turned out to be strong enough to initiate a stop and a sideways movement with 1.4120 support level as a lower border. At the moment the bulls are about to test level 1.4200/10. Indicators suggest further growth, giving reasons to expect the above mentioned level to be successfully breached. If the breakout takes place, the next on the way…

EUR/USD: Technical Analysis

The exchnage rate has leapt higher and if it can break through resistance from the lower borderline of the triangle then it could signal a reversal - however it is too early to say yet whether that will happen. The next target higher would be at 1.4300 where there is a cluster of moving averages, however a resumption of the bearish trend would be expected to find support at the old lows: firstly 1.4015 and then 1.3840.…

EUR/USD: Technical Analysis

The euro-dollar pair has bounced off the lower boundary of a recent channel and it will probably rise to the upper channel line at the 1.4100 level, or resistance at 1.4125. There is a Demark buy setup on the 4-hour chart supporting this short-term bullish perspective. The bearish point and figure charts however indicate a probable resumption of the down-trend eventually, targeting 1.3950 to the downside.…

EUR/USD: Technical Analysis

 

The exchange rate has consolidated ahead of an important news announcement later today. It has fallen slightly off the highs and has been trading just below the level of the triangle lower borderline at 1.4150, indicating a bearish start to the day. The overall view is bearish, however, the upsurge on Wednesday which posted a long green candle indicated bullish potential. Nevertheless the gap at 1.4260 has been filled…

EUR/USD: Technical Analysis

The chart of the euro-dollar shows price bouncing from the recent lows at the 200-day MA and the major trendline from July 2010. Yesterday was a hammer and today the pair is continuing to rise, engulfing yesterday's range – a bullish sign if it can hold. The natural place for the rally to end would be the lower border of the triangle at 1.4150, which also happens to be the S1 monthly pivot. Thereafter the down-trend will probably…

EUR/USD: Technical Analysis

The EUR/USD pair has broken out from the triangle on the daily chart and fallen to the 1.38s. Whilst overall I am bearish, price has bounced this morning after hitting formidable support from the 200-day MA and the major trend-line from the June '10 lows. The bounce has already taken it to 1.3960 and it is possible it could go higher, as there is no sign of weakening yet. Targets to the upside include 1.4000 and then 1.4150. Point and…

EUR/USD: Technical Analysis

This pair gapped down this morning, reaching the lower border of the triangle at 1.4150. There is strong support at the current level indicating the possibility of a bounce if the move reverses. I would expect a rebound to hit resistance at 1.4190 or possibly fill the gap at 1.4250. Currently, however, there is no sign of the down-trend slowing down and if it continues, the support at 1.3950 might slow progress. A strong breakout from…

EUR/USD: Technical Analysis

Wave E continues to progress lower. It has found support at 1.4305 which is the 61.8% fibonacci line and the top of the Ichimoku cloud. From here there is the possibility of a bounce, probably to 1.4350. The down-trend will probably resume eventually, however, with 1.4150 as a probable target.…

EUR/USD: Technical Analysis

Decline below 1.4430/40 support level was the first indication of the "bearish" strength. At the moment trading is getting close to level 1.4330/40 - the key support on the way down- and being carried out around 1.4370/80 levels. Indicators are turned down, suggesting the bearish direction and level 1.4330/40 breakout in the near future. If the forecast confirm, the next stops for the price would be 1.4260/50 and then 1.4200/10 levels.…

EUR/USD: Technical Analysis

The bulls failed to recommence their growth and rise above 1.4560/70 resistance level, so trading reversed to a down trend and the price is now consolidating at 1.4470/60 levels. This recent pullback downwards indicates a wider correction range, which is very likely to expand to 1.4430/40 support. Indicators have turned to bearish, which now gives enough grounds to consider a real possibility for the reversal. On the other hand, the…

EUR/USD: Technical Analysis

The euro-dollar is continuing to rise despite a drop-off in momentum. It has broken out of the triangle pattern but has not followed-through. Whilst there is a possibility of a pullback to support and resistance at 1.4500 or even 1.4480, there are no strong signs of reversal or weakness so the uptrend could continue. The point and figure charts all have uptrends intact and there is a clustering of targets in the 1.4650 region, which…

EUR/USD: Technical Analysis

The euro-dollar pair has been rallying strongly but has just encountered resistance from a major trendline and the upper borderline of a triangle. This could be a turning point back down. The most recent rally is probably the triangle D wave in which case only wave E back down remains.There may well be a pullback to the pivot at 1.4425 as wave E unfolds before a breakout of the pattern and a move much higher. However, given there are…

EUR/USD: Technical Analysis

Forecasts confirmed and the pair continued its growth. The price breached 1.4430/40 resistance line, confirming the "bullish" strong potential. At the moment trading is being carried out at 1.4510/00 level. If the attempts to fix the price above 1.4500 line turn out successful, we'll be expecting another ascension with targets seen at 1.4600/20 and 1.4700 levels. Indicators are "bullish" as well, saying in favor of the above mentioned…

EUR/USD: Technical Analysis

The price breached and held above level 1.4330/40, which was very undesireble for the "bears". The price has recently approached close to 1.4430/40 level, considered as the last chance for the "bears" to win back their trend. At the moment it resides at 1.4380/90. Indicators are changing their readings at the moment, saying now in favor of the up trend. If the price holds above 1.4430/40 level, the first bullish target will be found at…

EUR/USD: Technical Analysis

The EUR/USD currency pair is in a consolidation pattern on the daily charts which looks like a triangle. There appear to have been three legs in the triangle so far with a total of 5 expected (A-E). It is possible we are in a D leg now, with an eventual target at the trendline at 1.4350 initially, and then the monthly pivot at 1.4435. It is possible the triangle has already completed and waves D and E were smaller than average – in…

EUR/USD: Technical Analysis

The EUR/USD has fallen heavily but yesterday evening it reached support and bounced. The bounce has taken it to 1.4300 and it will probably go even higher. The 0.0005x3 point and figure chart is showing two bullish upside targets: one at 1.4320 and the other at 1.4405. There is also the possibility that the support and resistance line at 1.4275 could halt the rally. However, the principle trend is still down and eventually the main…

EUR/USD: Technical Analysis

The euro rolled-over during the night and has been falling all today. There is no evidence of any weakness in the downtrend so it will propbably continue. However, it has reached oversold levels to there is the possibility of a short term bounce. It has reached a support and resistance line at the current 1.4220 level and it could rebound from here. Alternatively the S3 daily pivot at 1.4180 level could also provide a buying zone.…

EUR/USD: Technical Analysis

There is growing evidence the counter trend rally in the EUR/USD could be nearing an end. There is a head and shoulders pattern at the highs, it has touched the 50 day MA moving average and all the upside point and figure targets have been met. The expected move down will probably reach support at 1.4275 which is both the point and figure target down on the 0.0005x3 chart and the lower channel line of the whole counter-trend…

EUR/USD: Technical Analysis

Overall the market is trending down although a bullish correction in the last hour has confused the picture. There are a cluster of point and figure targets on the 0.0005x3 and 0.001x3 charts at about 1.4140 and a support and resistance line there. I would expect any downside to reach that target. On the other hand the fact that EUR/USD has now closed up above the major trendline from the January lows signifies the possibility that…