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Forex4you's Blog – March 2013 Archive (11)

Forex4you Technical Analysis 28 March 2013

EUR/USD: Continuation Down

Eurodollar is falling again and has broken down below the 1.2780 level confirming a renewal of the down-trend. This means it is likely to fall to a new downside target at 1.2650 measured from the pennant formed earlier, although 1.2675 provides an nearer target. Alternatively, if there is a rebound then one would expect upside caped by the 200-day MA at 1.2865, with a…

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Added by Forex4you on March 28, 2013 at 2:27pm — No Comments

Forex4you Technical Analysis 26 March 2013

EUR/USD: Bearish Potential

Eurodollar has fallen back down making new lows. Importantly it has reached the 200-day MA and is consolidating at that level. We still don't have a decisive break below and would require a move under the monthly pivot at 1.2815 to support the bearish case. Currently it looks like a flag pattern could be forming on the 4hr chart with a downside target at 1.2650. More…

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Added by Forex4you on March 26, 2013 at 1:35pm — No Comments

Forex4you Technical Analysis 22 March 2013

EUR/USD: Consolidating, Downside Bias



This pair has moved sideways this morning so far giving no indication of future direction. Currently there is resistance above price at 1.2920 from the 50 and 100-hour MA's and strong support at 1.2815 from weekly and monthly pivots. The pair has drifted out of the down-sloping channel but there is no upside impetus. A break above 1.2995 would signal a move up to 1.3060,…

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Added by Forex4you on March 22, 2013 at 8:00am — No Comments

Forex4you Technical Analysis 21 March 2013

EUR/USD: Sideways Market



The euro rebounded off its lows during Wednesday's session and found its way above the upper line of the down-sloping channel. This morning, however, it has started to fall once again and has now reached the upper channel line again where it is consolidating temporarily on the support offered. Given the bearish start to the day it is possible there could be a continuation lower, with a break of 1.2865…

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Added by Forex4you on March 21, 2013 at 9:27am — No Comments

Forex4you Technical Analysis 15 March 2013

GBP/USD: bounce continues

The GBP/USD has bounced strongly from Wednesday's lows. It has continued rallying this morning and it may go even higher eventually, reaching resistance from the monthly pivot and the trend-line at 1.5310. Apart from the strength of the rebound there are no indication's yet of a reversal of the short-term down-trend: there are no price patterns and only a minor trend-line has been broken, therefore, it is still quite probable the down-trend…

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Added by Forex4you on March 15, 2013 at 6:38am — No Comments

Forex4you Technical Analysis 14 March 2013

EUR/USD: 1.29 still supporting

Eurodollar sold off yesterday reaffirming the short-term down-trend as it continues making lower lows and lower highs. It also retracted back into its descending channel after temporarily breaking out. Nevertheless it failed to break the key support level from the September and October '12 highs. The target from the H&S top is met so there is potential for a bounce. Volume on yesterday's spike-down was weak and a rise back up to the…

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Added by Forex4you on March 14, 2013 at 6:34am — No Comments

Forex4you Technical Analysis 13 March 2013

EUR/USD: channel breakout

We have now had a break out of the channel, although there has been limited follow-through. The bounce from Friday's lows continues to rise slowly and there is a possibility now – since the channel breakout - of a continuation eventually up to the target at 1.3180. The price pattern stretching back over a week looks potentially like a reversal enhancing bullish outlook. A bundle of resistance at 1.3115 impedes but a decisive break above…

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Added by Forex4you on March 13, 2013 at 7:00am — No Comments

Forex4you Technical Analysis 12 March 2013

EUR/USD: reversal a possibility

Eurodollar is in a sideways consolidation with support in the 1.29s. The target for the head and shoulders top has pretty much been met so it is possible a reversal could develop, with a definitive break above 1.3055 signalling a breakout from the channel and possible resumption of mid-term up-trend and initial target at 1.3133. The pair remains in its down-sloping channel, however, so more weakness is also very possible, with a break…

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Added by Forex4you on March 12, 2013 at 8:00am — No Comments

Forex4you Technical Analysis 06 March 2013

EUR/USD: 'pulling-back'

EUR/USD pair is still recovering but less aggressively than it did yesterday. This morning's activity has been mixed and it is possible it will continue sideways. If we get a break above the key 1.3100 level then there is a chance of a rally up to the top of the channel at around 1.3140-50. The rebound is probably just a pull-back and the down-trend should resume eventually and probably reach the target from the head and shoulders top…

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Added by Forex4you on March 6, 2013 at 5:52am — No Comments

Forex4you Technical Analysis 05 March 2013

EUR/USD: rebounding

The EUR/USD pair has rebounded. If it breaks above the key 1.3100 level then it will probably reach the top of the channel at 1.3150 where the 100-day MA is also situated nearby. There are no strong signs of reversal and the current upside is probably just a pull-back. The down-trend should resume eventually and probably reach the target from the head and shoulders top at 1.2900.…

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Added by Forex4you on March 5, 2013 at 6:07am — No Comments

Forex4you Technical Analysis 01 March 2013

EUR/USD: hitting range lows

Eurodollar is consolidating in a range. Yesterday it reached 1.3160 before falling back down and it will probably fall further, given today's bearish start, with the 1.3018 lows now in focus. A decisive move below those would act as confirmation of a resumption of the down-trend down to 1.2900, the target from the head and shoulders pattern at the highs. Alternatively there is the possibility of a move higher back up to the range highs at…

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Added by Forex4you on March 1, 2013 at 7:00am — No Comments

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