July 2011 Blog Posts (24)

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…