Forex4you's Blog (405)
Forex4you Technical Analysis 01 June 2011
EUR/USD: Technical Analysis
The EUR/USD pair is pulling back after its recent rally. It will probably fall as far as support from the support and resistance level at 1.4370 and a channel line at the same level. After that it should resume its uptrend, possibly matching the recent highs at 1.4450.…
Added by Forex4you on June 1, 2011 at 8:12am — No Comments
Forex4you Technical Analysis 31 May 2011
EUR/USD: Technical Analysis
After yesterday's pullback, the EUR/USD shot up today reaching the 1.44s. There is now considerable resistance overhead and the exchange rate will probably fall back down to support at 1.4370 before possibly making another move higher. The point and figure 0.001x3 chart gives a target of 1.4670 – but there is a support and resistance level at 1.4530 and the channel line at 1.4450 which provides a nearer term…
Added by Forex4you on May 31, 2011 at 8:09am — No Comments
Forex4you Technical Analysis 30 May 2011
EUR/USD: Technical Analysis
The price kept on ascending up to 1.4330/40 resistance - 38.2 fibo from 1.4940 level. And at the moment its making attempts to test this barrier, after it has failed to breach it and pulled back downwards. So it now resides at 1.4290/80 level, ready for another attack. Indicators say in favor of further growth, which gives enough reasons to expect the "bullish" scenario to commence - on case 1.4330/40 level is breached, we'll be…
Added by Forex4you on May 30, 2011 at 8:02am — No Comments
Forex4you Technical Analysis 27 May 2011
EUR/USD: Technical Analysis
The EUR/USD pair is still rising in a counter-trend rally. Given the trendline break today a continuation higher is probable, with a target at resistance at 1.4340. A drop, however, could find support at 1.4135. There are no active counts on the point and figure charts indicating a possible balance of forces and the onset of a consolidation move.…
Added by Forex4you on May 27, 2011 at 8:07am — No Comments
Forex4you Technical Analysis 26 May 2011
EUR/USD: Technical Analysis
The EUR/USD has contiued correcting the previous wave down and rallied higher, reaching almost 1.4200 after breaking above the 1.4092 level as forecast. There is a point and figure target higher at 1.4230, which could be reached but nothing above that. The uptrend seems neither particularly weak nor strong so it could continue higher or begin reversing. The correction as a whole has returned 61.8% of the previous decline, it has just…
Added by Forex4you on May 26, 2011 at 7:46am — No Comments
Forex4you Technical Analysis 25 May 2011
EUR/USD: Technical Analysis
Previous growth was halted by a strong resistance around 1.4120/30 levels, so the trading pulled back downwards. The price now resides at 1.4070/80. Indicators are still turned up, but only in R% and MACD, SS looks neutral. Therefore, we should probably expect further correction, thought "bearish" trend is now dominating. When correcting, the price is also likely to test 1.4200/20 resistance level - downtrend channel (red) line. At…
Added by Forex4you on May 25, 2011 at 8:13am — No Comments
Forex4you Technical Analysis 24 May 2011
EUR/USD: Technical Analysis
The pair bounced off support as anticipated and although it has been rising it is now close to resistance from trendlines sloping down and may pull back to support at 1.4025. From there, there is the possibility of another rally with 1.4140s as a possible end target given that both the 0.001x3 and the 0.0005x3 charts are showing upside targets to that level.…
Added by Forex4you on May 24, 2011 at 6:41am — No Comments
Forex4you Technical Analysis 23 May 2011
EUR/USD: Technical Analysis
Previous forecasts, predicting that 1.4340/50 resistance level would be a significant barrier for the price, came true. Having reached 1.4345 level, the price reversed downwards, so it's currently testing a new local minimum at 1.4000/10 level, mentioned as one of the target levels in the later analyses. Indicators are also turned down, suggesting further decline. However, 1.4000 level is deemed as a significant support level, which…
Added by Forex4you on May 23, 2011 at 8:14am — No Comments
Forex4you Technical Analysis 13 May 2011
The EUR/USD pair has rebounded from yesterday's lows but it will probably resume its downtrend soon given the lack of long upside counts to support a stronger recovery. Only horizontal counts are available yielding upside targets of 1.4370 and then 1.4550 on the 0.001x3 chart (below). The downside target to 1.3900 is still valid and could still be realized, and it would require a rally above 1.4440 to negate it. It is therefore probable the… Continue
Added by Forex4you on May 13, 2011 at 8:29am — No Comments
Forex4you Technical Analysis 12 May 2011
1.4400/10 resistance level halted the "bulls", so the price recommenced its downtrend, tested 1.4170/80 levels and currently resides around 1.4220/30. Indicators are bearish, which gives enough reasons to anticipate a soon test of target 1.4060/00 level, mentioned in the previous analysis. Taking into account present market developments, we may expect the price to test even lower minimums on its way down. The bullish scenario will come… Continue
Added by Forex4you on May 12, 2011 at 9:18am — No Comments
Forex4you Technical Analysis 11 May 2011
The EUR/USD pair is still consolidating after plummeting to fresh lows on Monday. There is a possibility it could bounce back as far as the 1.4500s where here is an important level of support and resistance at 1.4520 and the 0.001x3 point and figure chart also has a target at 1.4590. The steepness of the move down, however, suggests the likelihod of a resumption of the downtrend eventually, whilst a break below the recent low at 1.4260 would… Continue
Added by Forex4you on May 11, 2011 at 8:55am — No Comments
Forex4you Technical Analysis 10 May 2011
The EUR/USD fell to 1.4260 lows yesterday but has since begun consolidating in a range. The emphasis is still bearish and the larger 0.005x3 chart has met its upside targets indicating possible exhaustion. Shorter term, however, there are no clear vertical downside targets on the 0.001x3 chart, although a horizontal count yields a bearish target of 1.4170. The smallest box size chart, the 0.0005x3 conversely has an upside target of 1.4450.… Continue
Added by Forex4you on May 10, 2011 at 7:58am — No Comments
Forex4you Technical Analysis 27 April 2011
The price reached target 1.4700, mentioned in the previous forecast. Trading is currently carried out at 1.4675/80 level. Indicators suggest growth, albeit the fact of MACD divergence gives reasons to be ready for a possible large-scale pullback downwards. However, further "bullish" trend is most likely, so next target at level 1.4790/80 may be tested in the near future. support 1.4500 breakout and fixation below would indicate the change… Continue
Added by Forex4you on April 27, 2011 at 8:55am — No Comments
Forex4you Technical Analysis 26 April 2011
The price reached a strong resistance at 1.4650/40 level and pulled back downwards. The pullback stopped at 1.4500 support level. Trading is now carried out around 1.4550/60 levels. Indicators are not that "bullish" anymore, currently suggesting a possibility of a sideways movement within 1.4650 – 1.4500 range. Support at 1.4500 level was previously mentioned as the key support, which can halt growth. Its breakout would give reasons to… Continue
Added by Forex4you on April 26, 2011 at 8:13am — No Comments
Forex4you Technical Analysis 21 April 2011
The EUR/USD pair is in a steady uptrend and it will probably continue rising. The count on the chart below is 1.5285 but there is resistance at 1.4850 and heavier resistance at 1.5100 so these are probably more realistic targets. The counts on the larger 3 x 0.005 box chart have already been met so the more muted outlook longer term puts a slight break on excessively bullish expectations.…
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Added by Forex4you on April 21, 2011 at 7:52am — No Comments
Forex4you Technical Analysis 19 April 2011
Forecasts confirmed, the price breached 1.4250 support level and even made an attempt to breach it. It also failed to hold below 1.4350 level, though it did reach level 1.4160. At the moment trading is carried out at 1.4250/60 levels. Indicators are weakening their "bearish" readings", which gives enough reasons to expect reversal to growth. The uptrend channel (blue) line turned out to be a good support for the euro, so further price… Continue
Added by Forex4you on April 19, 2011 at 8:01am — No Comments
Forex4you Technical Analysis 18 April 2011
Previous forecasts, predicting that the price would decline to lower supports when correcting seem to be comming true. The price has already breached 1.4360/70 support level and it's currently making attempts to descend further, to level 1.4250. Trading is being carried out at 1.4340, but it has already been at 1.4300. Indicators are more "bearish" which gives even more reasons to expect the price to reach 1.4250 support in the near future.… Continue
Added by Forex4you on April 18, 2011 at 8:14am — No Comments
Forex4you Technical Analysis - 15 April 2011
The price is still consolidating within previously formed narrow range. No changes have been made to the trading picture. Indicators now seem more "bearish", which gives reasons to expect a serious pull back downwards. However, previous comments are still relevant - 1.4360/70 support breakout will be the first signal for decline with the target at level 1.4250. The uptrend channel (blue) line may be breached as well. If it happens, trades… Continue
Added by Forex4you on April 15, 2011 at 7:47am — No Comments
Forex4you Technical Analysis 13 April 2011
The exchange rate has risen as forecasted but is just shy of the target of 1.4550 on the 3 x 0.05 chart shown below. It will probably rise higher to meet this target before consolidating and perhaps correcting. In addition, the smaller 3 x 0.0005 chart has an upside target at 1.4590, supporting the bullish outlook.…
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Added by Forex4you on April 13, 2011 at 8:07am — No Comments
Forex4you Technical Analysis 11 April 2011
he price managed to rise above 1.4450 level, which matches with the previously mentioned uptrend channel resistance (blue) line, and it's now making attempts to hold above this level. Trading consolidates at level 1.4455\65. Indicators are "bullish", suggesting further growth. However, there is a big cluster of significant resistance levels within 1.4400 - 1.4500 range, so there are chances that growth may stop and a large scale pullback… Continue
Added by Forex4you on April 11, 2011 at 8:03am — No Comments
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