The EURUSD continues its bullish momentum today , prints a new support at 1.3323 levels, this development is likely to open the way towards the 1.3485/1.3520 levels, a halt is strongly suggested , If seen , It could mean a return to the 1.3323 levels before the next possible rise, the next support comes at the 1.3205 levels.
On the upside , break of 1.3520 on a daily closing basis will pave the way towards the 1.3620/1.3820 levels, in other words, If 1.3520 is taken out, 1.3710…
Traders, EURUSD just reached a new high in August, but despite some EUR strength we don't see any evidences on the larger time that would be pointing for bullish period on the EUR. With that said, we will not give up on bearish view, we just adjusted the wave count. On the 4h chart we are still tracking wave C), with sub-wave 5 in progress on the hourly chart. Divergence on MACD and Elliott Wave Count suggest that current rally is in low volume and momentum which is evidence of approaching…Continue
Added by Gregor Horvat on August 20, 2013 at 11:56am — No Comments
As shown on the daily chart below , the pair has formed a strong bullish pattern , according to daily %R - Williams , It has formed a hidden bullish divergence, this is a trend continuation pattern , there's a risk to spike to the upside towards 1.3620 levels in 1 or 2 days.
Support comes at the 1.3187/1.3205, losing both levels, would reverse risks to the downside , If seen , It would extend weakness towards the 1.3060/1.3000 levels.
On the upside, neckline comes at…
EURUSD : the EURUSD maintained a bearish momentum on the 4 hour chart, topped at the 1.3362 levels, bottomed at the 1.3314 levels, now pressure will be on the key support 1.3314 levels.
The EURUSD will have to hold below the 1.3314 levels on a 4 hour closing basis to push the market for further downside losses , If seen,It will target the 1.3260 levels, a halt is strongly suggested , but losing this level will turn focus on the 1.3187 levels, losing this level will…
The EURUSD maintained a bullish momentum last Thursday , topped at 1.3362 , bottomed at 1.3205, now pressure will be on the key resistance 1.3362, the EURUSD will have to hold above the 1.3362 levels on a daily closing basis to push the market for further upside gains,If seen , it will target the 1.3485 levels where a breach will turn focus on the 1.3580 levels, further more will aim the 1.3710 levels.
Alternatively, a failure to hold above the 1.3362 levels could mean a return to…
As shown on the daily chart , the pair is trapped inside a triangle with possible break to the upside, If we shift down to the 4 hour chart, we have strong bullish momentum to the upside, however, a break to the upside would open 1.4000 levels, while a break to the downside would open 1.2800 levels...…Continue
Added by Haitham653 on August 16, 2013 at 6:01pm — No Comments
The EURUSD maintained a bullish momentum yesterday , topped at 1.3362 levels, bottomed at the 1.3205 levels, now pressure will be on the 1.3370 levels. the EURUSD will have to hold above the 1.3370 levels on a daily closing basis,to push the market for further upside gains , If seen It will target the 1.3577 levels , a halt is suggested but a breach will turn focus on the 1.3710 levels.
Alternatively , a failure to hold above the 1.3370 levels could mean a return to the 1.3205…
Added by Haitham653 on August 16, 2013 at 11:00am — No Comments
Recommendations: LONG positions above 1.3260 with 1.3340 & 1.3370 as next targets.
Alternative scenario:The downside breakout of 1.3260 will call for a slide to 1.3230/200 .
Description: The pair trades above its support 1.3260, stability above this level will build pressure on the 1.3370/400 levels, losing 1.3260 on hourly closing basis would delay the bullish for retesting 1.3230/205 levels, but downside below 1.3260 is…
Added by Haitham653 on August 16, 2013 at 8:46am — No Comments
ING Bank - "The Fed’s campaign to reinforce a message that tapering is not tightening has seen the USD hand back the gains that by early July had, on some measures, taken it to its highest level for three years. Yet we feel that its recent weakening needs to be placed in the context of a USD that is still well within the ranges established so far in 2013. Our base case remains very much for the USD to enjoy a strong recovery into year-end, even if the catalyst for its gains is in danger of…Continue
Added by Francesc Riverola on August 15, 2013 at 11:19am — No Comments
The EURUSD maintained a bearish momentum in 2008 , topped at the 1.6038 levels , and bottomed at the 1.2330 levels, since then , pressure becomes on the 1.2330 levels, the EURUSD will have to hold below the 1.2330 levels on a yearly closing basis to push the market for further downside losses, If seen , It will target the 1.1640 levels, a halt is strongly suggested , but losing this level will bring a free fall towards the 0.9990 levels.
Alternatively, a failure to hold below the…
EURUSD: So far, the pair remains under pressure , resistance is at 1.3315 ahead of 1.3366, stability below resistance levels is likely to add pressure on 1.3175/165 levels, a halt is suggested but losing this level will open the way towards 1.3100 levels .
On the upside , resistance is at 1.3315 levels, stability above this level on a 4 hour closing basis would weaken the current bearish run, above 1.3315 will open the way towards 1.3366 levels, a clear break…
EURUSD reversed nicely higher in the last few days from around 1.3400 level where we see signs of a completed five wave movement with overlap between waves 1 and 4, called an ending diagonal placed in wave C). Decline from the latest high is looking impulsive which has also extended through the lower side of pattern which is important signal for a change in trend. With that said, we expect lower levels, a test of 1.3180 in the near-term.
EURUSD 4h Elliott Wave Analysis…Continue
Added by Gregor Horvat on August 14, 2013 at 7:26am — No Comments
As shown on the daily chart below, I see EURUSD bullish in medium term outlook with risk towards the 1.3710 levels based on technical and fundamental perspective , support is at 1.3205 ahead of 1.3175 levels, as long as both levels hold on a daily closing basis , the pressure will remain strong towards the 1.3415 levels, a break above 1.3415 levels will target 1.3575/710 levels.
On the downside , losing 1.3205/13175 on a daily closing basis would delay the bullish move and flip bias…
Hi, I would like to do this a weekly routine for my trading as like keeping a trade journal n sharing in this great community. As been a trend trader i love to watch overall picture from big to small, learned a good phrase recently "Trade Fx like a Sniper, not a machine gunner".
Looking forwards for more downside move on EU, as in monthly chart this pair show an approx 5 years of corrective phrase and now is the assumed Wave C have begin to rock on.…Continue
Added by Vincent Kuan on August 14, 2013 at 4:17am — No Comments
JP Morgan - "The decisive break above the first key-T-junction 1.3262 (minor 76.4 %) has put the odds in favor of the red scenario which is supposed to mark a c-wave top in the 1.3483 to 1.3521 (76.4 % on higher scale/pivot) target zone. Below, the market remains at great risk of at least performing a C- wave down to 1.2453 (C = A, red) whereas a failure below 1.3418 would even keep the door open for an internal 3rd wave decline to 1.2328 (wave 1’ x 1.618, green scenario).
Only a break…
Added by Francesc Riverola on August 13, 2013 at 4:09pm — No Comments
Societé Generale: "We use a short-term model based on a concept of quantile regression to identify the extremes that EUR/USD could reach. To understand what a quantile estimation is one should first look at a regression. A regression finds the mean estimate with a certain error assuming a normal world. This would be the same result found when minimizing the moment of the distribution. These moments define uniquely a normal distribution via the mean and variance.
A quantile model…
Danske Bank - "This week we present two strategies: Buy EUR/USD and sell Cash Gold:
EUR/USD – Above 1.3417 would confirm a trendline break for 1.3711
• Strategy Summary – Stay long or buy on dips for further gains to 1.3711. Suggest stopping and possibly reversing on a loss of 1.3188/1.3066.
Cash Gold – Forms a potential lower high below the broken trendline
• Strategy Summary – Look to sell for a decline towards the 1087.00-1030.80 region.…
Added by Francesc Riverola on August 12, 2013 at 11:46am — No Comments
EURUSD: the EURUSD corrected a lower bit last week after reaching 1.3400 levels, resistance is at 1.3366 levels , stability below this level on a 4 hour closing basis will build a pressure on the 1.3300/1.3265 levels, however; break of 1.3366 levels on a 4 hour closing basis is likely to expose 1.3415 levels and target 1.3450/500 levels.…
The EURUSD continued to maintain its bullish momentum last week , printed a critical support on the weekly chart at the 1.3230 levels, the EURUSD will have hold above the 1.3230 levels on a weekly closing basis to push the market for further upside gains, stability above the 1.3230 levels will build a pressure on the 1.3415 levels, break of 1.3415 will have large bullish implication towards 1.3710 , above 1.3710 will focus on the 1.4200 /1.4500 as well as 1.5000.
On the downside,…
As shown on the daily chart below the pair breached above the triangle last week , this scenario is likely to add pressure on the 1.3415 levels,a break will expose 1.3710 levels , If seen , the way will be paved to 1.4200/1.4500 levels.
Note that according to triangle on the daily/weekly chart, the assumed target is 1000 pips from the breakout point , so it's around 1.4300 levels..
On the weekly chart, we have the same triangle , but we also have a second bullish pattern…