Posts Tagged “EUR/USD”
The EUR/USD pair started this week consolidating last week’s gains. Price action has developed into a wedge. The bearish divergence suggested a bearish attempt, and we are seeing one, albeit very weak. There may not be a lot of trading in the US session today, the day after US’s Independence View full post on Technical Analysis
Having conquered the 1.2466 level, its Jun 21’10 high following its Thursday rally and Friday strength, the stage is now set for a run at its major resistance residing at the 1.2671 level, its May 21’10 high. A clean break and hold above there will call for a further push View full post on Technical Analysis
Day –Long jam-band movements and congestion, it was calm before the storm. Yesterday, Spain’s bond issue and at the end of the data with bad prity rising from U.S. the parity level seen above the 1.2456. There is a noticeable difference,between some time before to today.In the past, the bad View full post on Technical Analysis
Although euro has maintained a firm undertone after breaking resistance at 1.2540 and upside bias remains for gain to 1.2600/10 and then 1.2655/60 (approx. 50% projection of 1.2193 to 1.2540 measuring from 1.2483), loss of near term upward momentum should prevent sharp move beyond latter level and reckon 1.2695-00 (61.8% projection) would hold on first [...]
The EUR/USD pair was on the verge of continuing a decline but the 1.2150 proved to be support again. That was expected, but the rally from there is a new clue that the consolidation/correction is to extend. This also opens the possibility of a reversal. The 1.2150 low established after View full post on Technical Analysis
Nearer term outlook has turned higher after the pair rallied through the 1.2466 level, its Jun 21’10 high on Thursday. With this price development we expect the pair to trade further higher towards its May 21’10 high at 1.2671 and then its psycho level at 1.3000. Its daily stochastics View full post on Technical Analysis
Having reversed higher from its .50 Fib Ret (1.1875-1.2466 rally) at 1.2169 and the 1.2162 level, its Jun 14’10 low on Wednesday to close higher at 1.2303, risk of a return to its Jun 28’10 high at 1.2396 continues to shape up. A break of there will push EUR further View full post on Technical Analysis
Euro’s intra-day rally on dollar’s broad-based selloff partly due to the release of disappointing job data suggests the fall from 1.2490 has ended at 1.2151 and bullishness remains for gain towards this level, however, only break there would confirm early rise from 1.1876 low has resumed and extend gain towards 1.2570 (38.2% Fibonacci retracement of [...]
The correction rally from 1.2150 was expected as mentioned in the Chartist Corner (I won’t get the recording up until Friday unfortunately). I was looking for topping action coming out of this rally. I mentioned after waiting for 2 swings. In this case, the second swing gave us the clue. View full post on Technical Analysis