EUR has bounced back from the fibo level at 1.2915 and currently is trading around support of 1.2850. We are in a quite interesting technical situation. 1.2850 is a serios support level, breaking below have to take us far more down, breaking above that again will be hard too. Technically breaking of 1.2850 will take us at least 150 pips down to 1.2700, downside may extend even to 1.2620. One of these both has to bounce and the price will reverse to the upside reaching 1.3000 once again…

Another day - another fall, deeper and deeper we go and seems there is no end. First test of 1.2850 was unsuccessful, there was only about 30 pips pullback for now and maybe another test will follow today, breaking of 1.2850 will lead us quickly to 1.2730-1.2700. Weekly indicators are negative and heavily point to the downside with first target 1.2760. Daily indicators show that soon a correction will follow. H4, H1 and smaller frames show that correction is trying to begin. The correction…

EUR performed a flat consolidation within a narrow range yesterday and tested once again support 1.2940-50 but quickly recovered showing that around 1.2950 there are a lot of buyers. This morning we have a jump higher reaching the MA200 on H4 @ 1.3025. breaking above that MA200 will take us to 1.3070. However further upside today will be difficult and is very possible the price to reverse this afternoon back to 1.3000. Daily and H4 indicators are bullish, smaller too, just H1 is bearish at…

EUR dropped down on Friday as the second test of 1.3190 was unsuccessful. In fact i was expecting a fail a little above and making a double top. Currently EUR has stopped at the 1.2960 support but the downside pressure is still too strong on H4, indicators on H1 show a close recovery to 1.3020 and drop again to 1.2950 at least. The target will be 1.2860 area, where is the diagonal support line starting from in 1.2050. I think it will bounce this time too, so go long close to 1.2860 and…

EUR has made some progress to the upside and the diagonal support line of which i have talked yesterday has done a good job. EUR has reached three of my long targets and now consolidates around the support zone 1.3150-65. It is very likely in the following hours to make another test of 1.3195 and if unsuccessful to reverse back to 1.3130. Please note that any drop below 1.3085 will take us quickly to 1.3000 and maybe below. For now 1.3130 serves as a good support so you may enter LONG there…

EUR has made another attempt to go higher,but not successful and finally continues consolidation from the beginning of the week. We have a diagonal support line starting from 23 april 2013 which caps any downside for now.breaking below will take us at least 100 pips down. All indicators on almost all time frames are going flat. We are failing to break the 1.3000 level for over a month and any break will take us below for a continuous period too. However as long as we are above the upside is…

EUR consolidated almost the whole day yesterday and later through the american session it dropped to 1.3053 with a 25 pips pullback then stablilized around 1.3080. Currently the EUR is in another consolidation and is slowly heading towards 1.3100. At 1.3115 we have a fibo level and if the price breaks it higher the move to the north will continue with first target 1.3150 then 1.3185 and then 1.3230. On Daily chart we are deeply inside a negative ichimoku and if we have any upside move it…

EUR dropped sharply yesterday as the ECB cut the rate. We are moving inside the negative Ichimoku on Daily and more slide is expected in the following days to the bottom of that cloud. Today's resistance will be the fibo level of 1.3115 and the target will be the supports 1.3030-1.3000-1.2980-1.2950. Bears are in full control, today the most important news will be the NFP. The expectations are for 145k, which is a lot better than previous 88k. Any higher value will lead to another dollar…

EUR gained on bad US data and non-surprising FOMC yesterday reaching 1.3242 resistance, then bounced from there and reversed nearly 70 pips forming a pin on Daily. Currently the pair is trading around 1.3170 with immediate support area 1.3150-1.3160. This will be the start point for another push to the upside later today. Many analysts think that today ECB will do a rate cut. The key is the mr.Draghi's speech. If the ECB cuts today and mr.Draghi says that this will be it and no further cuts…

EUR bounced yesterday from support at 1.3050 and reached the resistance area around 1.3175-85 where the upside move stopped. Currently we are in a flag formation and upside is going to continue to 1.3265 but a retracement to 1.3120 is possible. So my advice is to go long with a tight stop and if SL is hit to reenter at lower support level. It is quite possible the market to cosume the good news from mr.Draghi in advance and at the end of the week to have a big drop. And if not this then next…

EUR progressed to the upside yesterday but the move stopped ahead of 1.3120 and the price returned below 1.3100 then entered in a stand-by mode. Currently the pair is vulnerable to a sudden drop to 1.3060 and to 1.3030-40 later today and this will be the expected false Ichimoku breakout about i have talked yesterday. Use any drop to 1.3030 to enter LONG at a better price, because in some 48-56 h from the time of writing i expect the upside to be renewed with target above 1.3200. Please note…

EUR performed a low volatility day on Friday and started today with move to the upside, the price is currently stopped at the resistance 1.3050, support is 1.3030 below which we risk another test of 1.2970. If broken 1.2970 then we may go to 1.2905 and below, so watch for confirmation candle on H4 close. On H4 there is a negative Ichimoku beginning to form, so it's very likely to have a false break higher today if any at all, and then the price will trun south. Some weak data from Spain and…

here is my gold weekly chart.

after a sudden meltdown price is recovering forming a bullish engulfing candle on the 200 EMA

maybe time for gold to be bullish and maybe hit $3k per ounce later this year when market collapses....…

EUR has reversed yesterday's upside after US jobless claims release and dropped almost 90 pips, however 1.3000 has stopped further downside and the price bounced to the well known support 1.3030. So we were unable to determine direction yesterday and despite the volatility we ar at the same place where we were yesterday. For today i expect another upside attempt with target 1.3140 and bounce back to 1.3100 or a little below that. A daily close above 1.3090 will open the way to 1.3250 next…

EUR has tested 1.2950 yesterday in a quick spike down move. However seems the pair is not ready to dive below 1.2950 as buyers appear ahead of 1.2960-50. Currently EUR trades around 1.3040 resistance zone, with immediate support at 1.3030 and resistance at 1.3060. Today the most possible scenario will be LONG EUR above 1.3030. The problem is that we have no any good nesw to support the EUR or bad news to weaken the dollar. Area below 1.3100 is heavy saturated with resistances each of them…

EUR reversed yesterday'supside move after the worse PMI data and dropped 100 pips in one hour. However 1.2970 capped further downside and the pair is currently trading around 1.3000 level. The outlook for the pair is bearish. All indicators are unhappy and watch the ground and the ground is around 1.2880 and the last support is 1.2960-70. Sell on breaking below that with target 1.2880. There are too much resistances to the upside and any upside move will be capped below 1.3040. Only above…

EUR continued consolidation started on Friday. It is difficult to determine direction as H1 and H4 indicators are flat. On H4 we are trying to break the positive Ichimoku and we are very close to Senkou Span B, but i think it is too early for breaking it. We have a support at 1.3000-1.3005-10, i also think that we need another test of 1.31 before going donw to 1.3000 and below. You may go LONG only above 1.3140, below that resistance the pair is going south as i have said already the first…

EUR didn't move upside much on Friday and returned back below 1.3100 as expected. The price has formed an inverted hammer on Daily which is a low reliability bullish continuation candlestick. However after mr.Weidmann's comments the price will remain under downside pressure and any upside will be limited. The upside is limited also by the huge and thick negative Ichimoku above us on Daily. First support comes at 1.3035, then 1.3000 and then 1.2960.

Some investors prefered to take…

EUR has been stopped at the resistance 1.3075-85, currently consolidation continues only a break above 1.3100 may increase the upside pressure to test 1.3140 again if that is broken too we may extend to 1.3180-1.3200. Fail at the top or lower will lead to reverse to the south with first target 1.3000 and then 1.2970. Daily MA200 passes through 1.2920 and will be a target if 1.2970 fails to hold the downside. We have a thick Daily negative Ichimoku at 1.3120 so it is very likely to have a…

EUR has reversed at the top 1.3200 and created a mirror image falling 200 pips below to 1.3000 with a 50 pips pullback currently. It is expected the pullback to continue to 1.3070. We have been rejected from the negative Icimoku on Daily as expected because it was too early to break it higher, of course with the help of mr.Weidmann, who set the correct path for the market. More about mr.Weidmann statement you may find on forexstreet.com website. The technical outlook is as follows:…