Forex4you's Blog (405)
Forex4you Technical Analysis 27/12/10
Added by Forex4you on December 27, 2010 at 8:07am — No Comments
Forex4you Technical Analysis 23/12/10
The price not only breached target level 1.5410/00, but passed beyond it, reaching level 1.5350/60. Then, the price rebound up and it's currently consolidating around 1.5400, at level 1.5390/80. Indicators suggest further "bearish" trend, although "bullish" MACD divergence gives reasons to be cautious and consider a possible large-scale pullback upwards. In this case, it's worth taking into account strong support at 1.5320/30, which has been… Continue
Added by Forex4you on December 23, 2010 at 8:53am — No Comments
Forex4you Technical Analysis 22/12/10
A fall below 1.5480 promoted the "bearish" movements in the market and the price continued to decline, reaching level 1.5420/30, though it currently resides at 1.5440. Target 1.5410/00 hasn't been reached yet, but there are reasons to expect it anyway, regarding the present situation. Indicators suggest the "bearish" trend, MACD, on the other hand, is forming "bullish" divergence. So it's worth considering a large-scale pullback upwards as… Continue
Added by Forex4you on December 23, 2010 at 1:41am — No Comments
Forex4you Technical Analysis 21/12/10
EUR/USD: Technical Analysis
Yesterday EUR/USD fell to support at the 200 day MA and the monthly pivot at around 1.3095. From there it has bounced, probably in an Elliot 4th wave back up to 1.3200 and since begun to turn lower, perhaps at the beginning of the 5th wave down this morning. It will probably return to match the 1.3095 lows before possibly another bounce back up to 1.3200.…
Added by Forex4you on December 21, 2010 at 7:02am — No Comments
Forex4you Technical Analysis 20/12/10
EUR/USD: Technical Analysis
Forecast about the upcoming correction to growth proved to be correct, though a decline was continious and the price met support only at level 1.3150/40. Currently, the trading is carried out at 1.3160/70. Indicators are turned down, suggesting to expect the "bearish" trend as a higher possibility. So, a decline is likely to continue, with the next support seen at 1.3050/60. Nevertheless, level 1.3150/40 seems to be strong enough to…
Added by Forex4you on December 20, 2010 at 6:59am — No Comments
Forex4you Technical Analysis 16/12/10
EUR/USD: Technical Analysis
Support 1.3320/10 breakout suggested realization of further down trend scenario. The price plunged towards resistance level 1.3220/30, where it still consolidates. Indicators are turned down, giving more reasons to expect a decline, the trading is very likely to sink towards 1.3150/40. There is also a high possibility that a down trend expands to supports – 1.3050/60, 1.2980/70. At the same time, it's worth noting, that the support level,…
Added by Forex4you on December 16, 2010 at 6:57am — No Comments
Forex4you Technical Analysis 15/12/10
EUR/USD: Technical Analysis
Key resistance 1.3450/60 proved its strength and didn't let the price go further, so it returned to a decline. Indicators are turning down, though the readings are still unclear and vague. Considering this fact, we recommend to be cautious regarding future outlook. Fall and fixation below 1.3320/10 will initiate further decline to 1.3150/40 with a possible fall to the lower supports at 1.3050/60, 1.2980/70. Reversal up, above 1.3400/10…
Added by Forex4you on December 15, 2010 at 8:17am — No Comments
Forex4you Technical Analysis - 13/12/10
EUR/USD: Technical Analysis
The "bears" didn't manage to breach support 1.3150/40, like it had been previously assumed, so, the sideways movement continued. The trading is currently carried out at 1.3210/20. Indicators are "bearish", thanks to SS, though both R% and MACD suggest further consolidation within the range 1.3310 – 1.3150/40 as a higher possibility. Support 1.3150/40 breakout will most likely initiate new minimums test at 1.2960/70, with a possible stop…
Added by Forex4you on December 13, 2010 at 7:00am — No Comments
Forex4you Technical Analysis 09/12/10
The price didn't make it to support 1.3150/40 and started its growth on trades from level 1.3170. But having failed to breach resistance 1.3320/30 it's pulling back at the moment, so the trading is carried out at levels 1.3200/10. Indicators suggest the "bearish" moods, which makes yesterday's scanario - support level 1.3150/40 test - quite a possibility. This level breakout will reveal the "bearish" potential will- a… Continue
Added by Forex4you on December 9, 2010 at 7:09am — No Comments
Forex4you Technical Analysis 08/12/10
Assumptions that risistance 1.3410/00 was strong enough to withstand the "bullish" attacks turned out to be correct. The price didn't manage to pass this barrier, so it currently resides at 1.3190/80. Indicators suddently changed their readings in favor of a downward movement, which gives reasons to expect further possible decline. The current fall will probably reach support 1.3150/40, which breakout would indicate… Continue
Added by Forex4you on December 8, 2010 at 7:17am — No Comments
Forex4you Technical Analsyis 07- December- 2010
Support at level 1.3250/40 stopped a decline and initiated a reversal to growth. The price currently resides at 1.3370/80. During the current growth the price raised above a down trend channel line (red lines), which is a strong sign, saying in favor of further upward movement. Indicators prefer growth too, but there is a strong resistance on the "bullish" way, which is at level 1.3410/00, that has already proved to be… Continue
Added by Forex4you on December 7, 2010 at 7:03am — No Comments
Forex4you Technical Analysis 06/12/10
The price not only tested, but also breached level 1.3310/00, mentioned previously. Then the price met a strong resistance at 1.3420/10, which is a bit below level 1.3460/50, the key resistance on the way up. Having pulled back, the trading is currently carried on close to support 1.3310/00. Attempts to breach down trend channel line (red lines) failed, which suggests the "bearish" moods and a possible reversal to a… Continue
Added by Forex4you on December 6, 2010 at 8:00am — No Comments
Forex4you Technical Analysis 03/12/10
Indications are that the countertrend rally or Elliot wave 4 in EUR/USD is probably nearing an end. Within the rally we appear to be in a sideways consolidation currently, like a triangle and the next move depends on the direction of the breakout from that range. It is possible that it could start falling very soon but there is a good probability there will be a final thrust higher with a target in the 1.3280s, where… Continue
Added by Forex4you on December 3, 2010 at 7:01am — No Comments
Forex4you Technical Analysis 02/12/10
Assumptions about a possible correction in this instrument are likely to turn out correct - the price raised to level 1.3150/60, mentioned earlier as the consolidation range resistance and is currently making attempts to breach this resistance. Indicators suggest the "bullish" moods to be dominating in the market, which can be considered as a proof that further growth will be successful. In case the tested level is… Continue
Added by Forex4you on December 2, 2010 at 8:24am — No Comments
Forex4you Technical Analysis 01/12/10
The euro-dollar pair found a temporary bottom yesterday at 1.2960 and has been rising since then reaching back up to 1.3090. Given the weakness of the recent pullback I think the countertrend rally could extend further, possibly to the 200 Day MA at 1.3125 or to the underside of the trend-line up from June at 1.3275ish. After that, however, it will probably rollover and make new lows.…
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Added by Forex4you on December 1, 2010 at 7:14am — No Comments
Forex4you Technical Analysis 30/11/10
Yesterday the EUR/USD decisively broke down through a major trend-line from the June lows. This marks a significant change in trend and the decline will probably continue lower, perhaps till it reaches a support and resistance line at 1.2940 initially and then probably further. The move down off the November 5 highs looks like a zigzag and if wave C is the same length as A - which it is likely to be at the least - then… Continue
Added by Forex4you on November 30, 2010 at 7:07am — No Comments
Forex4you Technical Analysis 29/11/10
The movements in this instrument proved the assumptions of the previous analysis - the price continued to decline and the "bears" almost reached the target level 1.3160, mentioned earlier and received support at 1.3180. Having pulled back upwards, the trading is carried on at level 1.3240/50. Indicators don't suggest the "bearish" trend to be dominating, though the assumptions of levels 1.3160 and 1.3110\00 tests are… Continue
Added by Forex4you on November 29, 2010 at 7:03am — No Comments
Forex4you Technical Analysis 26/11/10
EUR/USD has pushed down through an important trend-line drawn from the June lows. If the break is confirmed by a further decisive move then the exchange rate might fall to the 200 day MA at 1.3135 initially and then perhaps to 1.2930 eventually. There has also been a break below the cloud on the Ichimoku chart this morning and if the descent since the 5th November highs is a zigzag then the downside target for the C… Continue
Added by Forex4you on November 26, 2010 at 7:00am — No Comments
Forex4you Technical Analysis 25/11/10
The exchange rate has bottomed and consolidated into a triangle pattern with downside potential. A break lower, out of the pattern, would target support at 1.3250 initially and then perhaps even the 1.30s. There is also a chance the triangle could break higher, wrong footing market participants who were short, with an upside target of 1.3435.…
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Added by Forex4you on November 25, 2010 at 7:11am — No Comments
Forex4you Technical Analysis 24/11/10
The bears proved to be dominating, so the price declined not only to target level 1.3380/90, it went even lower, to 1.3280/90. We currently observe a slight pullback upwards and the trading is carried on at 1.3350/60. Nevertheless, the indicators don't seem to change their direction and reverse upwards, so the bearish trend will most likely continue. The current pullback upwards, by the way, may be considered as the… Continue
Added by Forex4you on November 24, 2010 at 8:13am — No Comments
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