Forex4you's Blog – November 2011 Archive (4)

EUR/USD: Technical Analysis

Eurodollar is still moving within a range although the bias is turning to the downside. Whilst it has just fallen down another level at the time of writing and reached support at 1.3680 there is still insufficient evidence to support a bearish break down yet. A break of the current levels would, however, be key in opening the door to the next target at 1.3480. If eurodollar recovers, on the other hand, then in the short term it will…

EUR/USD: Technical Analysis

Eurodollar has bounced sharply and it will probably continue rallying until it has reached resistance from the R1 pivot and the recent highs at 1.3835 – with to 50% fib line at 1.3925 as the next target if it continues. This is probably a counter-trend correction, however, and the pair should eventually roll-over and begin a new wave formation down, which should surpass the 1.3607 lows and probably reach channel-line support at 1.3535…

EUR/USD: Technical Analysis

Eurodollar has bounced sharply and it will probably continue rallying until it has reached resistance from the R1 pivot and the recent highs at 1.3835 – with to 50% fib line at 1.3925 as the next target if it continues. This is probably a counter-trend correction, however, and the pair should eventually roll-over and begin a new wave formation down, which should surpass the 1.3607 lows and probably reach channel-line support at 1.3535…

EUR/USD: Technical Analysis

Earlier forecasts, expecting further sideways consolidation, confirmed. Having escaped from the consolidation range, the price continued its decline, so it now resides around 1.3990/1.4000 levels. Indicators have turned down, except for  SS, which gives reasons to consider further growth possible. If  1.3920/00 support is breached, we’ll be anticipating a reversal down. On the other hand, the bullish potential is still strong, so…