[B]DAILY MARKET OUTLOOK EUR/USD[/B] - 1.3535
23 Jan 2014 [I]00:41 GMT[/I]
Despite yesterday’s rebound to 1.3584, subsequent retreat suggests the recovery from Monday’s 7-week low at 1.3508 has ended there and consolidation with downside bias remains for a re-test of aforesaid trough, break would extend corrective decline from December’s 2-year peak at 1.3894 towards support at 1.3455/60, however, near term loss of momentum would prevent steep fall below there and yield a correction later next week.
On the upside, only above 1.3584 would indicate a temporary low has been made there and bring stronger retracement of said fall to 1.3603.
DAILY TECHNICAL OUTLOOK ON EUR/USD
30 Jan 2014 01:01GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning up
21 HR EMA
1.3659
55 HR EMA
1.3661
Trend Hourly Chart
Sideways
Hourly Indicators
Neutral
13 HR RSI
50
14 HR DMI
-ve
Daily Analysis
Consolidation with mild upside bias
Resistance
1.3740 - Last Fri’s high
1.3716 - Mon’s high
1.3688 - Tue’s high
Support
1.3603 - Y’day’s low
1.3584 - Last Wed’s high, now sup
1.3508 - Jan 20 low
. EUR/USD - 1.3662 .… The single currency went through a ‘roller-coaster’
session on Wed. Despite a brief bounce to 1.3685 in Europe, euro retreated after
failing to penetrate previous res area at 1.3686/89 n then tumbled to session
low of 1.3603 in NY morning b4 rebounding to 1.3677 ahead of FOMC.
. Despite y’day’s brief breach of indicated sup at 1.3625 to 1.3603, subse
quent bounce to 1.3677 suggests further ‘choppy’ consolidation abv last Mon’s 7-
week trough at 1.3508 wud be seen n as long as said y’day’s low holds, upside
bias still remains. However, a firm breach of 1.3686/89 is needed to signal the
pullback fm last Fri’s high at 1.3740 has ended there n extend upmove to 1.3716
(Mon’s high), abv suggesst upmove fm 1.3508 has resumed n yield re-test of 1.37
40 (Fri’s high), abv wud bring subsequent headway to 1.3812/33, break confirms
correction fm Dec’s 2-year peak at 1.3894 has indeed ended n yield re-test of
said res next week.
. In view of abv analysis, buying euro on dips in anticipation of another
rebound is cautiously favoured. On the downside, only a daily close below 1.3584
(last Wed’s high, now sup) signals recovery fm 1.3508 is over, 1.3530, 1.3508.
[B]DAILY MARKET OUTLOOK EUR/USD - 1.3520
05 Feb 2014[/B] [I]01:06 GMT[/I]
The single currency rebounds from Monday’s low at 1.3477 to 1.3539 on Tuesday suggests choppy trading would be seen but as long as resistance at 1.3574 holds.
Daily bearishness remains for another sell-off later this week, breach of said support would indicate decline from December’s 2-year peak at 1.3894 has once again resumed and then further weakness to 1.3455 and 1.3410/20 would follow.
On the upside, only a daily close above 1.3603/09 would shift risk to upside instead for stronger retracement to 1.3640/50 and possibly 1.3685/88.
[B]DAILY MARKET OUTLOOK EUR/USD - 1.3531
06 Feb 2014[/B] [I]01:10 GMT[/I]
Despite euro’s volatile trading on Wednesday, as price has retreated after being capped below yesterday’s New York morning high of 1.3555, suggesting recovery from Monday’s 2-month low at 1.3477 has ended there and consolidation with downside bias remains, however, breach of said support is needed to confirm decline from December’s 2-year peak at 1.3894 has resumed and extend weakness to next retracement objective at 1.3455 and later towards 1.3399.
On the upside, only a firm breach of chart resistance at 1.3574 would confirm a temporary low is in place and turn outlook mildly bullishness instead for gain to 1.3603/09 and then 1.3640
[B]DAILY MARKET OUTLOOK EUR/USD - 1.3590[/B]
Update Time: 07 Feb 2014 [I]01:35 GMT[/I]
Yesterday rally from 1.3482 to 1.3619 on Thursday after ECB’S President Mario Draghi refraining from any additional stimulus measures announcement signals decline from December’s 2-year peak at 1.3894 has made a temporary low earlier at Monday’s 2-month trough at 1.3477.
Consolidation with upside bias remains, above said overnight resistance at 1.3619 would bring stronger retracement to 1.3640 and then 1.3665/70, however, near term over bought condition should cap price below chart res sat 1.3686 and yield retreat later.
On the downside, only a daily close below 1.3508 (previous daily support level) would indicate aforesaid correction is over instead and bring re-test of 1.3477, break, 1.3455 and then towards 1.3399.
DAILY TECHNICAL OUTLOOK ON EUR/USD
07 Feb 2014 00:28GMT
Trend Daily Chart
Sideways
Daily Indicators
Falling
21 HR EMA
1.3571
55 HR EMA
1.3548
Trend Hourly Chart
Near term up
Hourly Indicators
Easing fm overbought
13 HR RSI
64
14 HR DMI
+ve
Daily Analysis
Consolidation with upside bias
Resistance
1.3686 - 50% r of 1.3894-1.3477
1.3640 - 38.2% r of 1.3894-1.3477
1.3619 - Y’day’s high
Support
1.3555 - Wed’s high, now sup
1.3508 - Jan 20 low
1.3477 - Mon’s 2-month low
. EUR/USD - 1.3507 … Euro went through a ‘roller-coaster’ session y’day.
Despite brief drop to 1.3482 when ECB press conference began, solid bids abv
Mon’s 2-mth low at 1.3477 lifted price n euro surged to as high as 1.3619 after
ECB’s President Draghi refrained fm announcing any additional stimulus measures.
. Looking at the biiger picture, y’day’s rally to 1.3619 signals recent
decline fm Jan’s 2-year peak at 1.3894 has formed a temporary low at 1.3477 on
Mon n as long as 1.3555 (Wed’s high, now sup) holds, ‘choppy’ consolidation with
upside bias remains for a correction to 1.3636/40 (being 61.8% r of 1.3740-1.34
77 n the minimum 38.2% r of 1.3894-1.3477 respectively), however, high readings
on hourly oscillators shud cap price at 1.3686/88 (50% r of 1.3894-1.3477 n Jan
28 high) n yield retreat later. Looking ahead, abv 1.3686/88 wud bring further
gain to chart res at 1.3740 but a daily close abv there is needed confirm the
major correction fm 1.3894 is over.
. In view of abv analysis, buying euro on intra-day pullback in anticipa-
tion of further gain is favoured. On the downside, only below 1.3536/44 wud
signal recovery fm 1.3508 is over instead n risk re-test of 1.3477 sup.
WEEKLY TECHNICAL OUTLOOK ON EUR/USD
10 Feb 2014 00:19GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning up
21 HR EMA
1.3607
55 HR EMA
1.3581
Trend Hourly Chart
Near term up
Hourly Indicators
Rising
13 HR RSI
60
14 HR DMI
+ve
Daily Analysis
Consolidation with upside bias
Resistance
1.3740 - Jan 24 high
1.3685 - Jan 29 high
1.3649 - Last Fri’s high
Support
1.3576 - Fri’s reaction low fm 1.3649
1.3552 -1.3552
1.3483 - Last Fri’s low
. EUR/USD - 1.3622…. Euro briefly fell to a 2-month low at 1.3477 last Mon
n despite another attempt to re-test this level on Thur, price swiftly rallied to
1.3619 after ECB President Draghi did not give any hint of an imminent monetary
easing. Price then climbed to 1.3649 Fri after mixed U.S. jobs report.
. Looking at the daily chart, euro’s rally to 1.3649 signals the early cor
reaction from Dec’s 2-year peak at 1.3894 has made a low at 1.3477 as this level was
accompanied by prominent bullish convergences on the hourly oscillators’ readings.
. As aforesaid rise on Fri has exceeded the ‘minimum’ 38.2% r obj. (1.3636) n
with current price trading above the 21-hr & 55-hr emas, upside bias remains for
the single currency to head to 1.3686 n probably twd 1.3735, being 50% n 61.8%
retracements respectively of the above mentioned fall from 1.3894. Looking ahead,
only a daily close abv 1.3740 res wud suggest the enture correction is over n
yield further gain twd 1.3894 in late Feb/early Mar. On the downside, a daily
close below 1.3552 (Fri’s low) wud abort present bullishness on euro.
. Today, euro is expected to maintain a biddish tone n extend gain to next
chart obj. at 1.3785/86 but reckon res at 1.3740 shud cap upside.
[B]DAILY MARKET OUTLOOK EUR/USD - 1.3667[/B]
Update Time: [B]11 Feb 2014[/B] 01:40 GMT
Euro’s intra-day rally above yesterday’s high at 1.3652 to 1.3678 suggests near term rise from last Monday’s trough at 1.3477 to retrace decline from December’s 2-year peak at 1.3894 remains in progress and further gain to 1.3685/88, then 1.3716 would be seen, however, near term loss of momentum would keep price well below resistance at 1.3740 and yield retreat later.
On the downside, only below 1.3576 would indicate a temporary top has been made and bring stronger correction towards 1.3552.
[B]DAILY MARKET OUTLOOK EUR/USD - 1.3632[/B]
Update Time: [B]12 Feb 2014[/B] [I]00:53 GMT[/I]
Despite yesterday’s initial resumption of recent upmove from 1.3477 to 1.3683, subsequent retreat to 1.3630 in New York afternoon and then lower to 1.3627 in Asia today suggests a temporary top has possibly been made there and a correction to 1.3605/09 is likely to be seen, however, as broad outlook remains consolidated, reckon support at 1.3576 would hold and bring another rebound later today.
On the upside, only above 1.3683 would revive bullishness for further gain to 1.3716/20 but daily res at 1.3740 should limit upside.
[B]DAILY MARKET OUTLOOK EUR/USD - 1.3701[/B]
Update Time: [B]18 Feb 2014[/B] [I]00:54 GMT[/I]
The single currency’s sideways trading after yesterday’s resumption of rise from February’s 2-month low at 1.3477 to 1.3724 suggests consolidation with upside bias would be seen and above aforesaid resistance would extend gain towards daily objective at 1.3740, however, near term loss of momentum would prevent strong rise above there and yield retreat later this week.
On the downside, only a daily close below support at 1.3657 would indicate a temporary top has been made and risk retracement towards 1.3637.
[B]DAILY MARKET OUTLOOK EUR/USD - 1.3739[/B]
Update Time:[B] 24 Feb 2014[/B] [I]00:33 GMT[/I]
Despite Friday’s brief but sharp rebound to 1.3758, subsequent retreat to 1.3720 suggests initial consolidation would be seen and marginal weakness from here cannot be ruled out, however, support at 1.3702 should contain downside and yield strong rebound later today. Above 1.3758 would retain bullishness for a re-test of last week’s high at 1.3773, break would extend gain towards 1.3819/20.
On the downside, only below 1.3685 would abort intra-day bullish view and risk stronger retracement of rise from February’s low at 1.3477 towards 1.3619.
[B]DAILY MARKET OUTLOOK EUR/USD - 1.3736[/B]
Update Time: [B]25 Feb 2014[/B] [I]01:22 GMT[/I]
Despite yesterday’s sharp retreat from 1.3772 to 1.3708 due to negative deposit rate comments from ECB’s Visco, subsequent recovery to 1.3748 in New York morning suggests consolidation with upside bias would be seen, however, above resistance at 1.3772/73 is needed to confirm erratic up move from February’s low at 1.3477 has resumed and extend gain towards 1.3800, then 1.3819.
On the downside, only a daily close below 1.3685 would abort intra-day bullishness and risk stronger retracement of aforesaid rise towards 1.3657.
DAILY TECHNICAL OUTLOOK ON EUR/USD
06 Mar 2014 00:19GMT
Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
1.3733
55 HR EMA
1.3738
Trend Hourly Chart
Sideways
Hourly Indicators
Neutral
13 HR RSI
45
14 HR DMI
-ve
Daily Analysis
Consolidation with downside bias
Resistance
1.3894 - Dec 27 2-year peak
1.3825 - Last Fri’s 2-month high
1.3782 - Tue’s high
Support
1.3707 - Y’day’s low
1.3694 - Last Fri’s low
1.3643 - Feb 27 low
. EUR/USD - 1.3731… Euro fluctuated inside a narrow range of 1.3707-
1.3749 on Wed. Price met renewed selling at 1.3745 in Europe n then weakened to
1.3707 but short-covering lifted price to 1.3749 in NY morning b4 retreating.
. Looking at the hourly charts n as mentioned in our previous update, the
selloff fm last Fri’s 2-month high at 1.3825 to as low as 1.3707 on Wed suggests
erratic upmove fm Feb’s low at 1.3477 has indeed formed a temporary top there n
as long as res at 1.3782 (Tue’s high) holds, ‘choppy’ consolidation with down-
side bias remains for a stronger retracement of aforesaid rise, below 1.3692/94
(being 38.2% r of 1.3477-1.3825 n last Fri’s low respectively) wud extend subse-
quent weakness to 1.3675, this is equality projection of 1.3825-1.3718 measured
fm 1.3782 n then twds last week’s low at 1.3643, however, anticipated low read-
ings on the hourly oscillators shud prevent steep fall below there n yield subse
sequent rebound.
. Today, we’re holding a short position for one more fall. Only a breach
of Tue’s high at 1.3782 wud signal pullback fm 1.3825 is possibly over n yield
gain twd 1.3825, break may extend twd Dec’s 2-year peak at 1.3894.
[B]DAILY MARKET OUTLOOK EUR/USD - 1.3887[/B]
Update Time: [B]10 Mar 2014[/B] [I]01:05 GMT[/I]
Although price has rebounded after sharp retreat from last Friday’s fresh 2-year peak at 1.3915 to 1.3853 and minor consolidation would be seen in Asia today, as aforesaid move signals a temporary top has been made there, outlook remains mildly bearish for a stronger retracement to 1.3795/00. However, sharp fall below there is unlikely to be seen and support at 1.3776 would hold and yield strong recovery later.
On the upside, only a daily close above 1.3915 would revive bullishness for further gain to 1.3939, then 1.3950/55 before prospect of a correction.
[B]DAILY MARKET OUTLOOK EUR/USD - 1.3671[/B]
Update Time: [B]11 Mar 2014[/B] [I]01:46 GMT[/I]
Despite yesterday’s sideways trading, as price has held above Friday’s New York low at 1.3853, suggesting consolidation with upside bias remains for medium-term uptrend from 2012 trough at 1.2042 to resume and yield re-test of last Friday’s fresh 2-year peak at 1.3915, break would retain bullishness for further gain to 1.3939. However, loss of momentum would prevent strong rise above there and yield a ‘much-needed’ correction later.
On the downside, only a daily close below 1.3825 (previous resistance, now support) would signal a temporary top has been made and risk retracement to 1.3776.
[B]DAILY MARKET OUTLOOK EUR/USD[/B] - 1.3860
Update Time: [B]12 Mar 2014[/B] [I]01:41 GMT[/I]
Despite euro’s retreat to 1.3834 yesterday, subsequent rebound to 1.3877 in New York afternoon suggests the correction from last Friday’s fresh 2-year high at 1.3915 has possibly ended there and consolidation with upside bias would be seen, however, above Monday’s high at 1.3897 is needed to confirm this view and yield resumption of medium-term uptrend for a re-test of said top.
On the downside, only a daily close below 1.3825 (previous resistance, now support) would indicate a temporary top has been made and bring retracement towards 1.3776.
[B]DAILY MARKET OUTLOOK EUR/USD[/B] - 1.3785
Update Time: [B]27 Mar 2014 [/B] [I]01:45 GMT[/I]
Euro’s retreat from 1.3828 to 1.3776 yesterday suggests further choppy trading inside recent established range of 1.3749-1.3877 would continue but as rally in Tuesday’s New York (from 1.3749 to 1.3845) indicates consolidation with mild upside bias remains, marginal gain above 1.3845/49 is still envisaged, however, only above 1.3877 would signals correction from March’s 2-1/4 year peak at 1.3967 has possibly ended and extend towards 1.3924.
On the downside, only below 1.3749 would turn outlook bearish for stronger retracement of mid-term uptrend to 1.3707 and then to 1.3660/70.
