The dollar rallied over the past few days while the US 10 year was pushing 4.8 which placed the gap between the two at just over .5%. With the 10 year note coming off now and the spread closer to .4%, it supports the idea that the eur/usd should be headed higher from here.
With that said, if the technical analysis is right, the pair could very well push up to 1.36 before the end of the week
Any thoughts?
With a long US holiday weekend coming it would seem aggressive to see the pair up to 3600 in the next two days. A quick 618 retracement of last night’s move and penetrating the current downtend channel at 3565 makes 3600 seem to be a tall order for the next two days…
But with some key economic in both EUR and US anything is possible.
Could be 3400 just as easily. Stay tuned tonight
David
As long as 3500 holds a resistance, I’m bearish on this pair. It’s hovering around its 50 EMA, we’ll see if this support can hold.
There is hidden bullish divergence present with price making a lower low while the oscillator has formed a higher low.
If I had to choose sides in the medium-term, I’d go with the bulls.
Currently is seems the 47/50 level is acting as fairly strong support.
An undervalued pair with a bullish potential by next week. Atleast the fundamentals are pointing towards that direction.
Technicals are also pointing towards a bullish move in the short week ahead
If price trades to 1.3462 then the technical analyst are looking for a new test of the .3680 level. Intraday bullish divergence with oscillators on the hourly favors a turn higher as well.
With the return of liquidity tonight with the EURO session, there is a major bullish trend on the EUR/USD.
With the heavy economic calendar coming up for the U.S. this week, does the 5th elliot wave pointing towards the EUR testing the .3680 level again indicate a bullish trade if the pair breaks the 3500 resistance level? Or does the upcoming fundamental factors (US news) put that trade on hold for awhile?
Thanks
Difficult question you ask Native, calls for me to look into the crystal ball. Problem is I smashed it on the floor when I realised that the only thing I could see through it was an upside down image of the lovely potrait on the wall (I like the potrait the way I hanged it).
To be honest the pair is looking quite bullish, I don’t know of the wave counting but if it points towards that direction then this boat is getting filled up quite quick.
hi all, currently i am indeed long over a three month period (i spreadbet). just wanted your advice/opinions if i may. with interest rates possibly rising across the pond, do you think it is far more sensible to be short here (and hence, i had better just cut my losses)? i realize that many posts above are bullish but that was several days ago, so i am just updating this thread (and as we all know, positions can turnaround overnight in forex trading). thanks for your help folk 
same here, i have been long on this pair for a week now, i am -175 pips at the moment, i was afraid because it looked like a very bullish trend and all the forecasts predit ther pair to go to 1.38 this month.
However, with the new updates i do not know if it makes sense to hold to this position or just cut my loses.
…so that makes two people who don’t know what they’re doing:( :eek: the impending USA rate rise would definitely throw a spanner in the works…