AceTraderForex April 2: Dailly Technical Outlook on Major –EUR/USD

DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 05 Dec 2014 00:14GMT

Trend Daily Chart
1.2364

Daily Indicators
Bullish convergences

21 HR EMA
Down

55 HR EMA
1.2364

Trend Hourly Chart
58

Hourly Indicators
Rising

13 HR RSI
Sideways

14 HR DMI
+ve

Daily Analysis
Choppy consoldiation iwth a neutral bias

Resistance
1.2532 - Last Wed’s high
1.2507 - Mon’s high
1.2457 - Y’day’s high

Support
1.2340 - Hourly chart
1.2280 - Y’day fresh 27-month low
1.2242 - 2012 Aug 10 low

. EUR/USD - 1.23845… Euro rallied sharply against the usd on Thur as ECB refrained fm adding stimulus measures. Although price briefly fell to a fresh 27-month low at 1.2280 at the start of ECB’s press conference, euro jumped to 1.2414 n then rose to 1.2457 on short-covering b4 retreating to 1.2360.

. Looking at the hourly n daily charts, y’day’s rally fm a fresh 27-month trough to as high as 1.2457 in choppy NY session suggests MT downtrend fm May’s 2-1/2 year peak at 1.3995 has formed a temporary low there n despite subsequent retreat, as long as 1.2325 (Thur’s European morning high, now sup) holds, consolidation with upside bias remains, a daily close abv 1.2457 wud add credence to this view, then euro bring another leg of correction twd 1.2525/32(50% r of 1.2771-1.2280 n Nov 26 high respectively), however, as hourly technical indicators’ readings wud be in o/bot territory on such move, a strg retreat is likely to take place next week.

. Today, in view of abv analysis, we’re trading euro on both sides of the market initially as choppy sideways move is expected ahead of the key monthly U.S. jobs data. Only below 1.2280 wud risk one more fall to 1.2245/55.

DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 11 Dec 2014 00:10GMT

Trend Daily Chart
Down

Daily Indicators
Bullish convergences

21 HR EMA
1.2425

55 HR EMA
1.2388

Trend Hourly Chart
Near term up

Hourly Indicators
O/bot

13 HR RSI
83

14 HR DMI
+ve

Daily Analysis
Choppy consolidation with upside bias

Resistance
1.2602 - Nov 19
1.2532 - Nov 26
1.2507 - Last Mon’s high

Support
1.2425 - Intra-day low (Aust.)
1.2361 - Y’day’s low
1.2344 - Mon’s NY high, now sup

. EUR/USD - 1.2487… Euro strengthened versus the usd on Wed as renewed intra-day weakness in dlr/yen triggered another round of broad-based selling in the greenback. The single currency rebounded fm Asian low at 1.2361 to 1.2397 ahead of European open n rallied to 1.2448 in NY, then 1.2489 at Asian open Thu.

. Looking at the hourly n daily charts, as mentioned previously, euro’s bound fm Mon’s fresh 2014 trough at 1.2247 to 1.2448 Tue confirms MT downtrend fm May’s 2-1/2 year peak at 1.3995 has formed a temporary low there n several days of choppy trading abv this sup with upside bias wud be seen n intra-day break of 1.2448/57 (y’day’s high n last Thur’s high) adds credence to this view , further gain to 1.2507, then 1.2532 (Dec 1 high n Nov 26 high respectively), wud follow. However, as hourly technical indicators’ readings are in o/bot territory on such move, reckon price shud falter well below res at 1.2602 (Nov high) n may bring strg retreat later this month.

. Today, we have just taken profit at 1.2470 fm y’day’s long position n may buy again on pullback as 1.2425 (intra-day low in Aust.) may hold n only below 1.2395/99 (prev. res area, now sup) signals temp. top is made, 1.2361/65.

DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 22 Dec 2014 23:49GMT

Trend Daily Chart
Sideways

Daily Indicators
Bullish convergences

21 HR EMA
1.2242

55 HR EMA
1.2286

Trend Hourly Chart
Down

Hourly Indicators
Bullish convergences

13 HR RSI
45

14 HR DMI
-ve

Daily Analysis
Consolidation b4 MT decline resumes

Resistance
1.2347 - 50% r of 1.2474-1.2220
1.2302 - Last Fri’s high
1.2272 - Y’day’s high

Support
1.2216 - 61.8% proj. of 1.2474-1.2277 fm 1.2358
1.2174 - 61.8% proj. of 1.2888-1.2247 fm 1.2570
1.2146 - 61.8% proj. of 1.3700-1.2500 fm 1.2888

. EUR/USD - 1.2223… Euro gained a respite on Mon after failure to breach last Fri’s fresh 27-mth trough at 1.2220. Price ratcheted higher fm NZ’s low at 1.2220 in Asia n then climbed to 1.2272 in European morning. Later, euro briefly fell to 1.2250 in NY morning n fell to a session low at 1.2217 near NY close.

. Looking at the daily chart, as previously mentioned, euro’s resumption of MT downtrend fm 2014 high at 1.3995 (May) to 1.2220 last Fri suggests initial downside bias remains for further weakness to 1.2146, this is 61.8% proj. of intermediate downtrend fm 1.3700 to 1.2500 measured fm 1.2888. Having said that, as daily technical indicators’ readings wud display prominent bullish convergences on such a move, reckon ‘psychological’ sup at 1.2000 wud remain intact this month n early Jan 2015 n risk has increased for a much-needed correction to take place later. On the upside, only a daily close abv 1.2386 (prev. hourly sup, now res) wud signal a low is in place, then risk a correction twd 1.2570.

. Today, as long as 1.2272 res holds, downside bias remains for MT down-trend to extend to 1.2200 n 1.2174 (61.8% proj. of 1.2888-1.2247 fm 1.2570) but loss of momentum wud limit fall to 1.2146.

[B]DAILY EUR/USD TECHNICAL OUTLOOK[/B]
Last Update At [B]31 Dec 2014[/B] [I]00:02GMT[/I]

[B]Trend Daily Chart[/B]
Down

[B]Daily Indicators[/B]
Bullish convergences

[B]21 HR EMA[/B]
1.2160

[B]55 HR EMA[/B]
1.2169

[B]Trend Hourly Chart [/B]
Sideways

[B]Hourly Indicators [/B]
Neutral

[B]13 HR RSI[/B]
49

[B]14 HR DMI[/B]
+ve

[B]Daily Analysis[/B]
Consolidation with upside bias

[B]Resistance [/B]
1.2254 - Last Thur’s high
1.2220 - Mon’s high
1.2187 - Y’day’s high

[B]Support[/B]
1.2123 - Y’day’s fresh 29-month low
1.2100 - 50% proj. of 1.2474-1.2165 fm 1.2254
1.2063 - 61.8% proj. of 1.2474-1.2165 fm 1.2254

. [B]EUR/USD[/B] - 1.2159… Although euro continued its recent losing streak on Tue n easily penetrated Mon’s 1.2142 low to a fresh 29-month trough of 1.2123 in Asia, intra-day sharp selloff in dlr/yen triggered a brief short covering rally to 1.2187 in Europe. Euro later moved narrowly in subdued NY session.

. Looking at the bigger picture, despite Tue’s resumption of MT downtrend fm 2014 high at 1.3995 (May) to 1.2123, as this low was accompanied by ‘bullish convergences’ in the hourly indicators, subsequent rebound suggests a temporary low has possibly been made a choppy consolidation with mild upside bias is envisaged. A minimum 38.2% r of the intermediate fall fm 1.2474 wud push price to 1.2257, however, reckon 1.2298 (50% r) wud cap present rise n yield another leg of decline next week. Therefore, while trading euro fm long side in anticipation of further gain to indicated targets is recommended, position player can sell on such rise for subsequent weakness to 1.2042 (2012 trough).

. Today, euro’s narrow 1.2151-1.2181 range in NY suggests sideways move wud continue in subdued Asian trading, we’re holding a long position in anticipation of a retrace. to 1.2240 n only below 1.2123 risks one more fall to 1.2100.

DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 07 Jan 2015 23:49GMT

Trend Daily Chart
Down

Daily Indicators
Falling

21 HR EMA
1.1847

55 HR EMA
1.1887

Trend Hourly Chart
Down

Hourly Indicators
Bullish convergences

13 HR RSI
43

14 HR DMI
-ve

Daily Analysis
Initial recovery b4 one more fall

Resistance
1.1969 - Tue’s high
1.1958 - Tue’s NY high
1.1896 - Y’day’s high

Support
1.1802 - Y’day’s fresh near 9-year low
1.1775 - 61.8% proj. of 1.2187-1.1861 fm 1.1976
1.1740 - 1.23 times extn of 1.1976-1.1850 fm 1.1896

. EUR/USD - 1.1835… Euro continued its recent losing streak on Wed after weak EU inflation data. Despite recovering fm Aust.'s 1.1850 low, renewed selling interest at 1.1896 capped intra-day gain in early Europe n euro later tanked to a 9-year trough of 1.1802 in NY morning b4 recovering after FOMC minutes.

. Looking at the bigger picture, euro’s early break of major sup at 1.1876 (this was the reaction low made in 2010 fm euro’s decline fm its record high of 1.6040 - post-Lehman top made in Jul 2008) confirms aforesaid LT downtrend fm 1.6040 to retrace the entire rise fm 0.8228 record low made in 2000 has resumed n price is en route twd 1.1212 in Q1, being the ‘dynamic’ 61.8% r of this move. On the upside, only abv 1.2123 (Dec 30 low, now res) wud signal a temporary low is made, then risk is seen for a correction twd 1.2254 (Dec 25 high on Reuters).

. Today, as y’day’s 1.1802 low was accompanied by ‘bullish convergences’ on the hourly indicators, reckon 1.1775 (61.8% projection of 1.2187-1.1861 fm 1.1976) wud contain downside n yield minor correction. Therefore, we are buying on marginal fall in anticipation of a subsequent rebound to 1.1880. Abv 1.1896 (y’day’s European high) signals temporary low is made n yield 1.1940/50.

DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 16 Jan 2015 00:03GMT

Trend Daily Chart
Down

Daily Indicators
Falling

21 HR EMA
1.1667

55 HR EMA
1.1724

Trend Hourly Chart
Down

Hourly Indicators
Rising fm o/s

13 HR RSI
39

14 HR DMI
-ve

Daily Analysis
Consolidation b4 one more fall

Resistance
1.1846 - Wed’s high
1.1774 - Hourly chart
1.1667 - Prev. hourly chart sup, now res

Support
1.1569 - Y’day’s fresh 11-year low
1.1534 - 1.618 times extn of 1.2887-1.2247 fm 1.2570
1.1500 - Psychological sup

. EUR/USD - 1.1636… Despite euro’s brief bounce to 1.1786 in Asia after intra-day retreat fm 1.1793 (AUS) to 1.1760, price nose-dived to a fresh 11-year low at 1.1574 in Europe due to free fall in eur/chf after SNB abandoned franc peg. Later, euro rebounded to 1.1774 but only to fall to 1.1569 in NY.

. Looking at the hourly n daily charts, y’day’s firm breach n close below Wed’s low at 1.1728 (now res) signals LT downtrend fm 1.6040 (2008 record high) to retrace the entire uptrend fm 0.8228 record low made in 2000 has once again resumed n downside bias remains for further weakness to 1.1534 n then 1.1500, being 1.618 times extension of intermediate fall of 1.2887-1.2247 measured fm 1.2570 n psychological lvl respectively, after consolidation. Looking ahead, price is en route twd 1.1212 in Q1, being the ‘dynamic’ 61.8% r of this move.

. Today, as price is currently trading below both 21-hr n 55-hr emas, suggesting selling euro on recovery for one more decline is recommended, however, as ‘bullish convergences’ wud display on hourly oscillators on next fall, reckon 1.1500 wud hold n yield minor correction early next week. Abv 1.1774 wud be 1st signal a temporary low is in place n risks retracement twd 1.1830/40.

DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 21 Jan 2015 23:56GMT

Trend Daily Chart
Down

Daily Indicators
Falling

21 HR EMA
1.1590

55 HR EMA
1.1588

Trend Hourly Chart
Sideways

Hourly Indicators
Rising

13 HR RSI
60

14 HR DMI
+ve

Daily Analysis
Choppy trading to continue

Resistance
1.1774 - Last Thur’s European high
1.1728 - Last Wed’s low
1.1680 - Y’day’s high

Support
1.1540 - Tue’s low
1.1489 - Minor hourly sup
1.1460 - Last Fri’s 11-year low

. EUR/USD - 1.1615… Euro swung wildly y’day ahead of Thur’s ECB meeting. Price ratcheted higher fm 1.1542 at Asian open n climbed to 1.1641 in NY morning b4 falling briefly to 1.1565 after the news of ECB’s bond purchase plan b4 rallying briefly again to 1.1680, however, renewed selling knocked price to 1.1562.

. Looking at the bigger picture, last week’s breach of key sup at 1.1640 (2005 low) signals LT downtrend fm 1.6040 (2008 record high) to retrace the entire uptrend fm 0.8228 record low made in 2000 wud extend weakness twd 1.1212 in Q1, being the ‘dynamic’ 61.8% r of this move. On the upside, only a daily close abv 1.1728 signals temporary low is made n risks stronger retracement twd 1.1871 but price shud falter below 1.1976 (Jan 5 high) n yield another decline.

. Today, euro’s retreat after y’day’s brief rally to 1.1680 suggests correction fm said fresh 11-year low at 1.1640 has possibly ended there, break of 1.1540 (Tue’s low) wud add credence to this view n bring re-test of this sup. Looking ahead, price is en route to 1.1403, being equality projection of 1.3995-1.2500 measured fm 1.2888 later this month. On the upside, abv 1.1680 wud risk stronger gain to 1.1728, then 1.1763 (being 38.2% r of 1.2254 to 1.1460).

DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 28 Jan 2015 23:58GMT

Trend Daily Chart
Down

Daily Indicators
Falling

21 HR EMA
1.1222

55 HR EMA
1.1222

Trend Hourly Chart
Sideways

Hourly Indicators
Falling

13 HR RSI
39

14 HR DMI
-ve

Daily Analysis
Consolidation with downside bias

Resistance
1.1540 - Last Tue’s low, now res
1.1460 - Jan 16 low, now res
1.1423 - Wed’s high

Support
1.1295 - Mon’s high, now sup
1.1261 - Hourly chart
1.1224 - Tue’s low

. EUR/USD - 1.1283… Although euro rebounded fm 1.1331 to 1.1383 in Asia Wed due partly to cross-buying in euro, renewed selling interest capped intra-day gain n price fell to 1.1307 in NY morning. Later, euro ratcheted higher to to 1.1370 after unchanged Fed rate decision b4 tumbling to 1.1273 near NY close.

. Looking at the hourly n daily charts, although euro’s rally fm Mon’s fresh 11-year trough at 1.1098 to 1.1423 Wed signals the LT downtrend fm 1.6040 (2008 record high) has formed a temporary low there, y’day’s decline to 1.1273 signals 1st leg of correction has ended there n consolidation with near term downside bias remains for weakness to 1.1261, reckon the ‘dynamic’ 61.8% r of 1.1098-1.1423 wud contain weakness n bring rebound. Looking ahead, abv 1.1423 wud yield another leg of correction to 1.1460 (Jan 16 low) n then twd 1.1500 but as hourly oscillators wud display ‘bearish diverging signals’ on such a move, 1.1540 (38.2% r of 1.2254-1.1098) shud cap upside n yield strg retreat later.

. Today, in view of abv analysis, selling euro on recovery in anticipation of further weakness twd 1.1221/24 sup is favoured n one may even buy on such move later in the day. Abv 1.1327/33 signals low is possibly made, 1.1381/83.

DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 12 Feb 2015 00:16GMT

Trend Daily Chart
Down

Daily Indicators
Turning up

21 HR EMA
1.1312

55 HR EMA
1.1312

Trend Hourly Chart
Sideways

Hourly Indicators
Neutral

13 HR RSI
51

14 HR DMI
+ve

Daily Analysis
Choppy trading b4 one more fall

Resistance
1.1431 - Last Fri’s European morning low (now res)
1.1392 - Last Thur’s NY low (now res)
1.1360 - Mon’s high

Support
1.1270 - Mon’s low
1.1262 - Jan 29 low
1.1224 - Jan 27 low

. EUR/USD - 1.1321… Euro spent another lackluster day on Wed n gyrated inside Mon’s range n with a soft bias. Price retreated after a brief bounce to 1.1331 in Asia n later, euro edged lower in NY 1.1280 b4 jumping to 1.1353 in Australia but only to fall after ‘no deal’ was reached on Greece talk.

. On the bigger picture, euro’s early decline fm last Tue’s high of 1.1534 signals at least the 1st leg of correction fm Jan’s 11-year trough at 1.1098 has ended there n volatile consolidation with downside bias is in store. Price is expected to head to 1.1262/65, this is chart sup n ‘dynamic’ 61.8% r of 1.1098-1.1534 respectively n then twd 1.1221/24 sup after consolidation, however, only a daily close below 1.1202 (prev. res, now sup) wud suggest aforesaid correction has ended, euro wud be en route to re-test 1.1098, then ‘psychological’ 1.1000 later this week. On the upside, only abv 1.1499 wud prolong choppy trading abv 1.1098 n risk another rise twd 1.1534, break there wud risk stronger correction of the MT intermediate fall fm 1.2254-1.1098 twd 1.1676 (50% r).

. Today, we’re holding a short position for one more fall to 1.1245/55 n only firm rise abv 1.1355/60 res may risk stronger retrace. to 1.1390/00 later.

DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 11 Mar 2015 01:01GMT

Trend Daily Chart
Down

Daily Indicators
Bullish convergences

21 HR EMA
1.0733

55 HR EMA
1.0803

Trend Hourly Chart
Down

Hourly Indicators
Bullish convergences

13 HR RSI
36

14 HR DMI
-ve

Daily Analysis
Consolidation b4 one more fall

Resistance
1.0823 - Y’day’s low (now res)
1.0793 - Y’day’s NY res
1.0723 - Y’day’s European morning low (now res)

Support
1.0669 - Intra-day’s near 12-year trough (AUS)
1.0624 - 61.8% proj. of 1.2570-1.1098 fm 1.1534
1.0608 - 2.618 ext. of 1.1388-1.1155 fm 1.1218

. EUR/USD - 1.0698… The single currency remained under pressure in Asia on Tue n continue to ratchet lower in Asia n Europe. Price fell to 1.0723 at NY open on cross-selling in eur/gbp together with dlr’s broad-based strength, despite a brief bounce to 1.0793, euro fell to 1.0693, then 1.0669 in Australia.

. Let’s look at the bigger picture 1st, y’day’s resumption of LT downtrend fm 2008 record high at 1.6040 to a fresh near 12-year trough at 1.0669 suggests downside bias remains for marginal weakness twd 1.0624 after consolidation, this is 61.8% projection of intermediate fall fm 1.2570-1.1098 measured fm 1.1534. Having said that, as hourly indicators wud display prominent ‘bullish convergences’ on such decline, steep fall below there is unlikely to be seen n reckon 1.0590/00 shud hold n yield a much-needed correction later. On the upside, only abv 1.0823 (prev. sup, now res) wud indicate a temporary low has been made n risk stronger retracement twd 1.0863.

. Today, expect initial consolidation b4 prospect of one more fall, so selling on intra-day recovery is favoured n only a break of NY high at 1.0793
wud be 1st signal temporary low is made, risks retracement twd 1.0823.

WEEKLY EUR/USD TECHNICAL OUTLOOK
Last Update At 15 Mar 2015 23:25GMT

Trend Daily Chart
Down

Daily Indicators
Falling

21 HR EMA
1.0528

55 HR EMA
1.0578

Trend Hourly Chart
Down

Hourly Indicators
Bullish convergences

13 HR RSI
35

14 HR DMI
-ve

Daily Analysis
Resumption of downtrend

Resistance
1.0684 - Last Thur’s high
1.0635 - Last Fri’s high
1.0565 - Last Fri’s Asian low (now res)

Support
1.0457 - Intra-day fresh 12-year low (NZ)
1.0436 - 1.618 ext. of 1.1114-1.0823 fm 1.0907
1.0350 - 80.9% proj. of 1.0907-1.0494 fm 1.0684

. EUR/USD - 1.0491 … The single currency continued its recent losing streak after a brief recovery to 1.0907 last Mon, decline accelerated on market woes over Greek debt n upbeat U.S. data, price weakened to 1.0494 Thur n staged a ferocious rally to 1.0684 on short-covering but only to fall to 1.0462 Fri.

. Looking at the bigger picture, falling technical indicators on the daily chart suggest the euro’s LT downtrend fm 2008 record high at 1.6040 wud pressure price to next downside target at 1.0436 (this is 1.618 times extension of intermediate fall fm 1.1114-1.0823 measured fm 1.0907), then twd 1.0335 (being 2003 bottom in Jan). Having said that, as daily oscillators’ readings wud be in over-sold territory, reckon ‘psychological’ level at 1.0000 wud remain intact n risk has increased for a much-needed 4-5 cent major correction to take place later this month. Therefore, selling euro on corrective rebound is the way to go, profit shud be taken on decline. Only abv 1.0684 confirms a temp. low is made.

. Today, euro fell briefly below Fri’s 1.0462 low to a fresh 12-year trough of 1.0457 in NZ, however, price has rebounded on no follow-through selling, suggesting consolidation wud be seen b4 decline resumes later today.

DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 09 Jun 2015 23:59GMT

Trend Daily Chart
Sideways

Daily Indicators
Neutral

21 HR EMA
1.1272

55 HR EMA
1.1243

Trend Hourly Chart
Near term up

Hourly Indicators
Neutral

13 HR RSI
59

14 HR DMI
+ve

Daily Analysis
Consolidation with upside bias

Resistance
1.1467 - May’s high (15th)
1.1380 - Jun 4 high
1.1345 - Y’day’s high

Support
1.1214 - Y’day’s low
1.1180 - Last Fri’s low in Aust. (now sup)
1.1115 - Hourly chart

. EUR/USD - 1.1295… Trading euro on Tue was tricky as price swung wildly. Despite climbing to session high of 1.1345 near European open, broad-based selling in euro knocked price sharply lower to 1.1214, however, continued rise in German Bunds yields prompted a short-covering rebound to 1.1291 in NY afternoon.

. Looking at the daily picture, despite euro’s strg retreat fm last week’s high at 1.1380 to 1.1049 Fri, y’day’s gain to 1.1345 suggests said pullback has possibly ended n despite a brief but strg retreat to 1.1214, subsequent rebound suggests consoildation with upside bias remains n as long as y’day’s 1.1214 low holds, upside bias remains for another rise to 1.1345, abv wud encourage for a re-test 1.1380 res where a break there wud confirm correction fm May’s 3-month peak at 1.1467 has ended earlier at 1.0819 (May’s low), then further gain twd said key res at 1.1467 wud be seen later this month. On the downside, below 1.1214 wud risk weakness to 1.1178/80 where a break there wud suggest price wud continue to gyrate inside recent established broad range of 1.1467-1.0819.

. Today, intra-day firmness ahead of Asian open suggests upside bias remains for a re-test of 1.1345, then twd 1.1380, so buying on dips is favoured.

[B]Intra-day Market Moving News and Views
16 Jun 2015[/B] [I]07:39GMT[/I]

[B]EUR/USD[/B] - ..... Although euro moved sideways below Monday's high of 1.1295 in Asia and then briefly dipped to 1.1260 at European open after reports showed German inflation for May were in line with expectations.

Renewed cross-buying in the single currency quickly emerged there and lifted price above 1.1300 to a fresh session high of 1.1330 before retreating due to profit-taking.

Investors are now awaiting the release of German ZEW reports, and euro zone employment change at 09:00GMT.

DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 16 Jul 2015 00:17GMT

Trend Daily Chart
Sideways

Daily Indicators
Falling

21 HR EMA
1.0967

55 HR EMA
1.0998

Trend Hourly Chart
Down

Hourly Indicators
Bullish convergences

13 HR RSI
32

14 HR DMI
-ve

Daily Analysis
Resumption of recent decline

Resistance
1.1120 - 61.8% r of 1.1216-1.0966
1.1083 - Tue’s high
1.1034 - Y’day’s high

Support
1.0930 - Y’day’s low
1.0916 - Last Mon’s low
1.0819 - May’s low (May 27)

. EUR/USD - 1.0942… Despite staging a brief rebound fm 1.0987 to 1.1034 in European morning on Wed, euro ratcheted lower n then tumbled shortly after NY open on Fed Chair Yellen’s hawkish comments, price fell to 1.0930 b4 recovering.

. Looking at the daily chart, as euro has fallen this week after staging a strg rebound fm 1.0916 to 1.1216 this month, suggesting choppy trading below May’s 3-month peak at 1.1467 wud continue with downside bias. A daily close below 1.0916 wud dampen previous ‘triangle’ scenario n shift risk to the downside for weakness twd key sup at 1.0819 (reaction low fm 1.1467) where a break there wud confirm MT rise fm Apr’s 12-year bottom at 1.0521 has ended, then price wud be en route to next minor chart obj. at 1.0660 later this month/Aug. On the upside, if euro manages to hold abv 1.0916 sup (triangle c-leg trough) n then climbs back abv 1.1083, the abv triangle view wud be preserved n yield another rise twd 1.1216.

. Today, as euro has remained under pressure, below 1.0916 wud extend this week’s erratic fall to 1.0880/90 but ‘bullish convergences’ on hourly indicators shud keep price well abv May’s trough at 1.0819.

[B]DAILY EUR/USD TECHNICAL OUTLOOK[/B]
Last Update At [B]22 Jul 2015[/B] [I]00:42GMT[/I]

[B]Trend Daily Chart[/B]
Sideways

[B]Daily Indicators[/B]
Falling

[B]21 HR EMA [/B]
1.0907

[B]55 HR EMA[/B]
1.0882

[B]Trend Hourly Chart[/B]
Near term up

[B]Hourly Indicators[/B]
Easing fm o/bot

[B]13 HR RSI[/B]
69

[B]14 HR DMI[/B]
+ve

[B]Daily Analysis[/B]
Initial gain b4 retreat

[B]Resistance[/B]
1.1083 - Last Tue’s high
1.1036 - Last Wed’s high
1.0969 - Y’day’s high

[B]Support[/B]
1.0907 - Last Fri’s high (now sup)
1.0870 - Mon’s high (now sup)
1.0808 - Mon’s low

. [B]EUR/USD[/B] - 1.0948… Despite euro’s weakness to 1.0812 ahead of European open y’day following fall to a 12-week low of 1.0808 Mon, short- overing lifted price to 1.0879 in Europe, euro later rallied strongly to 1.0969 in NY session.

. Looking at the daily chart, although Mon’s brief breach of 1.0819 (May’s low) to 1.0808 signals correction fm Mar’s 12-year bottom at 1.0457 has ended at 1.1467 (May), Tue’s rally to 1.0969 suggests a temporary low has been made there n several days of choppy consolidation is in store with upside bias for gain to 1.1012, being 50% r of intermediate fall fm 1.1216-1.0808, however, as long as res at 1.1083 holds, euro’s erratic decline fm 1.1467 (May high) would head to next minor daily chart sup/obj. at 1.0785 later. Looking ahead, current falling daily technical indicators suggest price would be en route to 1.0660, then twd 1.0521 in Aug. On the upside, only a daily close abv 1.1083 wud confirm low has indeed been formed a low n bring stronger retracement twd 1.1216 res.

. Today, euro’s retreat fm 1.0969 suggests consolidation wud take place in Asia b4 prospect of further rise, reckon upside wud falter below res at 1.13036 n yield strg retreat later. So trading fm both sides of the market is favoured.

DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 06 Aug 2015 00:36GMT

Trend Daily Chart
Sideways

Daily Indicators
Turning up

21 HR EMA
1.0895

55 HR EMA
1.0911

Trend Hourly Chart
Sideways

Hourly Indicators
Rising

13 HR RSI
61

14 HR DMI
+ve

Daily Analysis
Choppy consolidation to continue

Resistance
1.1022 - Jul 28 low
1.0988 - Tue’s high
1.0938 - Y’day’s high

Support
1.0848 - Y’day’s low
1.0808 - Jul 20 low
1.0753 - 70.7% r of 1.0457-1.1467

. EUR/USD - 1.0912… Euro swung wildly on Wed. Despite extending Tue’s decline to 1.0848 in Asia, price staged a recovery in Europe n briefly jumped to 1.0938 on weak US ADP employment data b4 tanking to 1.0850 on upbeat serv. PMI.

. On the daily chart, despite euro’s marginal break of May’s 1.0819 bottom to 1.0808 in Jul, subsequent rally to 1.1129 last Mon signals the early erratic fall fm May’s 3-month top at 1.1467 has ended there n current ‘horizontal’ movement of the 13-day & 55-day emas suggests euro may continue to swing wildly in a directionless market until Fri’s key US jobs data. Having said that, this week’s decline n then weakness to 1.0848 y’day strongly suggests aforesaid correction fm 1.0808 is over n a a daily close below there would suggest MT rise fm Mar’s 12-year trough at 1.0457 has ended, then euro would be en route to 1.0753 (being 70.7% r of 1.0457-1.1467), then next minor daily sup at 1.0660 later this month. Only abv 1.1000 defers bearish scenario on euro n risks gain twd 1.1129.

. Today, as euro has ratcheted higher at Asian open after y’day’s rebound fm 1.0850 to 1.0911 in NY session, abv 1.0938 would risk stronger retrace. to 1.0950/60 but abv res area at 1.0988-96 needed to extend to 1.1022.

[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]07 Aug 2015[/B] [I]01:12 GMT[/I]

[B]EUR/USD - 1.0927[/B]
Despite euro’s retreat from 1.0944 to 1.0873 in Europe on Thursday, subsequent intra-day rebound after holding above Wednesday’s low at 1.0848 (Asia) suggests further choppy trading would continue ahead of the release of today’s key U.S. jobs report.
However, as early breach of last week’s bottom at 1.0894 indicates correction from July’s 12-week trough at 1.0808 has ended earlier at 1.1129, consolidation with downside bias remains but below 1.0808 needed to confirm MT decline from 1.1467 (May) has resumed and extend weakness to 1.0700 later in this month.

On the upside, only a move back above 1.0988/96 would shift risk to upside for stronger gain to 1.1060/70 but resistance area a 1.1114-29 should remain intact.

DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 26 Aug 2015 00:15GMT

Trend Daily Chart
Sideways

Daily Indicators
Rising

21 HR EMA
1.1504

55 HR EMA
1.1459

Trend Hourly Chart
Sideways

Hourly Indicators
Rising

13 HR RSI
58

14 HR DMI
+ve

Daily Analysis
Consolidation with upside bias

Resistance
1.1715 - Mon’s 7-month high
1.1622 - Hourly chart
1.1578 - Y’day’s Euroepan high

Support
1.1446 - Prev. hourly res (now sup)
1.1396 - Y’day’s low
1.1307 - Prev. hourly res (now sup)

. EUR/USD - 1.1537…Despite euro’s intra-day decline fm European 1.1578 high to 1.1396 in NY morning as rate cuts by PBOC led to initial rally in global stocks, price rebounded to 1.1537 after U.S. stocks swung fm gain to loss.

. Looking at the bigger picture 1st, euro’s rally abv key daily res 1.1467 (May high) to as high as 1.1715 on Mon confirms MT uptrend fm 2015 12-year bottom at 1.0457 (Mar) has finally resumed n price is en route to 1.1809 after consolidation, this is a ‘minimum’ 38.2% r of the intermediate LT downtrend fm 2014 peak at 1.3995, a daily close abv there would encourage for further headway twd ‘psychological’ target at 1.2000 next week, however, as daily indicators’ readings would be in o/bot territory on such a move, 1.2226 (50% r fm 1.3995) would cap upside. Only a daily close below 1.1420 (Mon’s European low) would signal temp. top has been made n risks retrace. twd 1.1261 (50% r of 1.0808-1.1715).

. Today, euro’s aforesaid strg bounce fm 1.1396 suggests correction fm 1.1715 has ended there, however, a daily close abv 1.1622 needed to bring retest of 1.1715 n then 1.1744 (50% proj. of 1.1018-1.1715 measured fm 1.1396), ‘bearish divergences’ on hourly indicators should cap price below 1.1800/10.

DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 28 Oct 2015 00:15GMT

Trend Daily Chart
Down

Daily Indicators
Fallng

21 HR EMA
1.1045

55 HR EMA
1.1061

Trend Hourly Chart
Sideways

Hourly Indicators
Neutral

13 HR RSI
41

14 HR DMI
-ve

Daily Analysis
One more fall b4 correction

Resistance
1.1140 - Last Fri’s high
1.1123 - 38.2% r of 1.1326-1.0997
1.1079 - Y’day’s high

Support
1.1004 - Mon’s NY low
1.0989 - Mon’s fresh 2-month low (Reuters)
1.0938 - 61.8% r of 1.0457-1.1715

. EUR/USD - 1.1031… Euro moved in erratic fashion in directionless Tue’s session ahead of Wed’s FOMC anouncement. Price climbed to 1.1072 in Europe b4 easing to 1.1036. Euro then rose to 1.1079 in NY but only to retreat to 1.1030.

. Looking at the daily picture, despite euro’s erratic rise fm Sep’s 1.1087 trough to 1.1495 in mid-Oct, last Fri’s firm breach of this key sup n daily close below there bodes ill for the single currency in the coming weeks as this move signals early fall fm Aug’s 7-month peak at 1.1715 has finally resumed. The next downside obj. are pointing at 1.0938, then 1.0808, being 61.8% r of medium-term rise fm 2015 12-year bottom at 1.0457 (Mar) to 1.1715 n Jul’s low respectively. Therefore selling euro on recovery is the way to go as 1.1200 is expected to hold yield subsequent fall to indicated targets n only abv 1.1306 (previous sup, now res) would abort current very bearish outlook on euro.

. Today, as long as said y’day’s 1.1079 high holds, one more fall to 1.0960/70 may be seen, however, as hourly technical indicators would display prominent ‘bullish convergences’ on such move, 1.0938 should hold n bring correction.
Abv 1.10789 would bring stronger retracement twd 1.1100/10 b4 another fall.

DAILY MARKET OUTLOOK
Update Time: 29 Oct 2015 02:00 GMT

EUR/USD - 1.0915
The single currency’s selloff last week on dovish comments from ECB President Mario Draghi to 1.0997 on Friday, then yesterday’s sharp fall to 1.0896 on a hawkish FOMC statement signals the erratic decline from August’s high at 1.1715 has once again resumed and consolidation with downside bias would be seen for further weakness towards 1.0847/50.
However, over sold condition would keep price above support at 1.0808/10 and yield a much-needed recovery later this week.

On the upside, only above 1.1025/30 would be the 1st signal that a temporary low has been made and yield stronger retracement towards 1.1080/90.