[B]EUR/USD Awaits Breakout[/B]
The pair has been stuck in a range through early trading, but the EUR is showing early signs of weakness.
A drop below the lows of 1.4100 would confirm a swing down and would target 1.4020 and beyond this 1.3980.
A move above 1.4180 would be needed to show signs of resuming strength. A break of this level would indicated a move to test the highs at 1.4250.
[B]USD/JPY Flag Pattern[/B]
The pair has been moving sideways after a strong run yesterday. This has formed a flag pattern which indicates a continuation of the rise. Yet a breakout can be traded in both directions.
A break above 96.60 would provide early signals of continuation in yesterdays rise. Confirmation would come from a break above 96.80 with profit targets at 97.00 and resistance is expected at 97.20.
A push below 96.20-96.10 points to at least a partial retracement of yesterdays surge. The initial target is 95.70 with 95.40 expected to hold beyond that.
[B]
Analysis by: Forexpros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
EUR/USD Continues to March
A pair has just pulled off the highs in the early Tokyo session, but the trend is still up and the bias is still up.
Some support should be found at 1.4250 as well as 1.4200 where a short term trend line currently rests.
A late December 08 peak is in range at 1.4360. This level is likely to be tested today if the pair does not continue to fall off yesterdays highs. A further profit target on the upside is 1.4410 and 1.4450.
USD/JPY Swings Continue
The see-saw action continues as market continues in its choppy range. A solid break of that daily range is not expected today.
A break below 95.35 would target 95.00 and beyond 94.60.
A push above 95.90 would target 96.20. A move above 96.20 would likely be stalled at 96.60 and beyond that 97.00.
Analysis by: Forexpros - Written by Cory Mitchell
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD[/B]
With news out of the US and the EURO zone today a larger than average range is expected (150 + pips).
1.4100 has become a major short term support zone. A drop below this would signify a deeper correction. A breach of the level would signify a move to 1.4050 and beyond 1.4000 and 1.3950.
A small resistance has formed during early trading at 1.4190. A sustained move above this would target 1.4270 and beyond 1.4320 and 1.4350.
[B]USD/JPY[/B]
With the price swings narrowing over the past two days a short-term breakout could occur. A move above 96.30, confirmed by a break of 96.40, would signal profit targets of 97.00 and 97.50.
A break below 95.70-95.60 would target 94.90 and beyond 94.50.
News out of the US today at 12:30 GMT.
[B]
Analysis by Forexpros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD Testing Support[/B]
The pair pulled up from the 1.3800 support level, but has fallen back towards it in early trading today.
A break below this level would mean another slide downwards of 100+ pips with an initial target at 1.3670-1.3650 and beyond that the 1.3600 area.
A move above 1.3940 would target 1.4040 and 1.4090. There is also resistance at 1.4000.
[B]USD/JPY[/B]
On the hourly chart the pair broke below a support level which had held rates above 98.20 since late trading June 5. That level was broken in early trading today.
While this may be a false breakout, targets on the downside are 97.55 and 97.00.
A move back into the range of 98.20-98.90 would signify a retest of short term resistance at 98.50 and the highs of the range at 98.90-99.00.
[B]Analysis by: ForexPros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD Range Break Pending[/B]
The pair is nestled in a congestion area of old support and resistance levels. The range is currently 1.4050-1.4100. Based on average daily movements we can expect at least 90-100+ pips of movement outside of this this range.
Initial target for a downside break is 1.4000, beyond 1.3960 and 1.3920.
A push past 1.4100 would put the initial target at 1.4150 and beyond 1.4200 and 1.4225.
[B]USD/JPY[/B]
The pair has rebounded in early trading after a fall yesterday. The 97.10 - 97.00 is the closest support area. A break of that level would likely pull the rate into the 96.50 area and beyond that 96.20.
The pair is currently pushing higher, and a break above 97.60 would target 97.80 and beyond 98.10 and 98.30 - 98.40.
[B]Analysis by: ForexPros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD[/B]
The EUR rose in early trading and is currently testing the 1.4050 resistance level, which is a former support level.
A push through 1.4050 would indicate a test of 1.4100 and beyond that 1.4140. Beyond that, 1.4175 should hold through the session.
A pullback below 1.4000 would likely hit some support at 1.3960 and if it continues to fall could see further resistance at 1.3925. Little stands in the way of further declines until the 1.3850 level.
News out of the US at 1230 GMT could mean a larger than average daily range today.
[B]USD/JPY[/B]
The pair is currently trading in a support (and old resistance) area. A slight pull up off the 97.70 is expected, but declines below this level would likely find support at 97.50. A further fall would target 97.20 and 97.00 should hold through the session.
A push above 98 would target 98.30 and beyond, 98.50. Further extension should find resistance at 98.70 and 99.00 should hold through the session.
A surprise in the news out of the US at 1230 GMT could push prices beyond the normal daily range.
[B]Analysis by: ForexPros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD Bigger Correction?[/B]
The pair failed to hold above the 1.4150 last week and is now heading towards the lower extent of the range. Support should be found at 1.3940, 1.3900 and beyond that 1.3800. A move beyond 1.3800 would point to a more complete correction.
With the daily average range hovering in the 200 pip range a move far beyond this level is not highly likely today.
On the bullish side an indicator pattern has occurred which indicates a short term low may be in place. The pattern indicates a test of the highs in the 1.4150 area. A move far beyond this is unlikely today. Interim resistance is likely to be found at 1.4000, 1.4055, 1.4080 and 1.4120.
[B]USD/JPY Multiple Patterns[/B]
On the longer term charts there are several technical factors coming into play. The next few days could be pivotal in the longer term direction of the pair.
Support today should be found by 98.05 and 97.80 in early trading. Beyond that 97.55.
Currently the pair is is pushing higher after an early fall. Watch for a test of the highs at 98.55, the 98.70 and 99.00.
[B]Analysis by: ForexPros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD Breaks Support[/B]
The pair broke below the 1.3800 level. A sustained break of this level points to a further decline in the rate as indicated by the topping pattern. So far the pair has managed to stay above the 1.3750 level which is a rising trend line support area.
A move below 1.3740 indicates an initial move to 1.3680. Beyond this support is likely at 1.3640 and the 1.3600 area.
A pullup could occur, finding resistance by 1.3850, 1.3885-1.3890 and beyond that 1.3915.
The bias has shifted to short-term bearish for the pair, but a daily close below 1.3750 would provide more confirmation of this.
[B]USD/JPY Pair Breaks Multiple Support Levels[/B]
Through trading yesterday and early today the pair plunged through multiple support levels. The pair currently sits in an old resistance (now support) area.
A drop below the lows at 96.50 points to continued deterioration. First target is 96.25 followed by 96.00 and 95.60.
Upside resistance is at 97.00, 97.20-97.30 and 97.60.
[B]
Analysis by: ForexPros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B][B]EUR/USD Pulls Off Lows[/B][/B]
The pair pull off the early lows set yesterday. The 1.3750 level held on the downside but the 1.3935 area also held on the upside.
The break down earlier in the week has yet to be confirmed. The levels mentioned above are now pivotal.
Support is at 1.3800 and 1.3750 and beyond that 1.3700.
Resistance is expected at 1.3925, 1.3960, 1.4000, 1.4030.
[B][B]USD/JPY Breakout Confirmed[/B][/B]
Yesterday the pair rallied to retest the old support levels. These levels, now resistance levels, held off USD buyers and the rate fell to new short-term lows. This confirms the break downwards and put the bias down once again.
Rallies can still occur with resistance at 97.00 and 97.30. A move higher than this today is unexpected unless news out of the US at 1230 GMT comes in with a big surprise.
Mild support is at 96.40 and 96.20. 96.00 and 95.60 offer more solid support.
[B][B]Analysis by: ForexPros - Written by Cory Mitchell[/B][/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD[/B]
The last three days have seen the EUR march higher. This has created a short term uptrend. Support is at 1.3910, with trend line support at 1.3860, and beyond that 1.3820, 1.3800.
The pair did manage to push above 1.3950 briefly but has now fallen back below. A move above is bullish and a further move higher would be confirmed if 1.3980 is surpassed. The profit target for that move is 1.4060-1.4080. Beyond that 1.4120 should hold through today’s session.
[B]
USD/JPY [/B]
The pair continues to fall with 95.50 so far holding.
A quick move below 95.50 could occur moving to the 95.30 area. Beyond this there is no real support till 94.50. 95.00 is a profit target based on current moves so that is also a level to watch.
A push above 96.00, if it holds would target 96.50. A move higher is not expected with the current selling pressure but 96.80 provides reistance beyond.
[B]Analysis by ForexPros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD Continues to Range [/B]
The pair is trading within a 120 pip range between 1.4000 and 1.3800 over the last couple trading days. This range has held in early trading.
1.3880 is initial support. A move below 1.3860 would confirm that break. The overal target for that move is 1.3760, with intermin support at 1.3820 and 1.3800. If prices move beyond 1.3760, there is support at 1.3740.
Resistance is likely in the 1.3740-1.3760 area. A move beyond indicates a test of the range highs near 1.4000. A break out today will encounter resistance by 1.4040 or 1.4080.
[B]USD/JPY Approaches Break Point[/B]
The pair continues to fall in early trading, heading towards the 95.60 support level. A break of that level could trigger futher selling.
A move below 95.60 will likely encounter support at 95.30. A move beyond could occur, but is unlikely as a further fall would exceed the pairs daily average range. Little support exists beyond this point though.
Upside reistance is at 96.30 and would test 96.50 if exceeded.
A continued move above will hit reistance at the 96.85 area and 97.00.
[B]Analysis by ForexPros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD Choppy Trading[/B]
Support is established at 1.3830 and is also present at 1.3820 through 1.3800. This likely means the sideways swings will continue. Although minor trends within the broader range can still occur.
A break below 1.3800 will likely test the recent lows in 1.3750 area.
Minor resistance is at 1.3880 but prices will need to push above 1.3900 to indicate stregnth. 1.3930 will provide moderate resistance with significant resistance at 1.3990-1.4000.
[B]USD/JPY Starts Its Move[/B]
After holding in a tight range late Friday and Monday, the pair has now broken several significant short term support levels.
Short term target for the move is 94.00, although a move to that level is very unlikely today.
A move to 94.50, which is the next support level, is more likely and should stall further declines today.
Upside resistance is now 95.50-95.60 as well as 95.80 which is the former support level for the range the pair just broke out of. 96.00 provides resistance, as well as 96.20-96.30 beyond that.
[B]Analysis by ForexPros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD - After the Surge[/B]
Yesterday saw a very strong move by the EURO, moving almost double its average (12) daily range. It also broke multiple short term resistance levels.
With more news out of the US today, it could be another volatile day.
A push above 1.4100 gives an initial target of 1.4140 followed by 1.4175 and 1.4250.
Support is at 1.4060, with a break giving a profit target of 1.4020 followed by 1.3985. There is little support after this till 1.3900, but the 1.3940 area is also significant.
[B]USD/JPY Rise and Fall[/B]
The pair currently looks to be heading to the recent swing highs at 95.90 but then is likely to fall in later trading as the pair continues its swing down on the longer time frames.
Resistance is at 95.90 with a push beyond likely to test the 96.15 area. Further resistance is at 96.50 but lies outside of the probable range of today’s movements.
Support is currently at 95.25, 95.00 and 94.85 and 94.50.
[B]Analysis by ForexPros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD Bounces[/B]
The pair fell over 200 pips yesterday but ultimately was stopped by the 1.3900 area and has since bounced higher. This keeps the bias upwards for today, but more news out of the US could make for a volatile day.
Upside resistance is at 1.3980, 1.4000-1.4010, 1.4050. Beyond that 1.4080 is likely to hold. 1.4140 is the resistance level beyond.
Minor support is present at 1.3940. 1.3900-13890 is a significant area for multiple reasons. There is little resistance until 1.3825 if a legitimate break occurs. 1.3800 and 1.3750 are both support levels beyond.
[B]USD/JPY Pullback[/B]
After breaking lower over the last couple days the pair has pulled back and is heading for the 96.30 resistance level. A push above that level would indicate a test of resistance in the 96.50-96.60 area and if that fails to hold, 97.20 beyond.
Support is at 95.60 and 95.00.
More news out of the US today is likely to make for a wide ranging day.
[B]Analysis by ForexPros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD Fails[/B]
The EUR failed to push above the former swing high at 1.4140 and has retreated in early trading this week. If support at 1.3980 is broken it places the short term bias downwards with a target of 1.3900 and beyond that 1.3840.
Resistance is currently 1.4040-1.4060. The targets beyond this level are 1.4100, 1.4140 and 1.4175.
[B]USD/JPY Push Higher[/B]
The pair failed to take out lows at 94.88 (June 23) and is now pushing higher. This places the bias upwards.
So far resistance has held at 95.60. A push above is likely to target 96.00 and then 96.20.
A retreat below 95.30 indicates a target of 95 and beyond that 94.60 (support also at 94.85-90 area). Such a move would places the bias downward once again.
[B]Analysis by ForexPros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD Tests Resistance[/B]
The pair is currently pushing higher to test the 1.4140 level. This is a significant level and could give us early indications of where we are going over the longer time frames.
If the resistance level at 1.4140 is broken the next resistance is a former spike high at 1.4175. If the break is real, a target for the breakout is 1.4250. There is also some resistance expected at 1.4200-1.4210.
Failure at the 1.4140 level will find minor support at 1.4100, 1.4060, 1.4000 and strong support at 1.3980.
[B]USD/JPY in Range[/B]
After the push higher yesterday the pair is very much back in a trading range.
Early action today has been contained between 96.30 and 95.80. A break above 96.30 is likely to move to the 96.60 resistance level and beyond that 96.90.
A break below 95.80 is likely to find support at 95.60, 95.30 and 95.10-95.00.
[B]Analysis by ForexPros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD for July 1[/B]
The pair is currently in a 55 pip range. A sustained break above 1.4055 would indicate a target of 1.4110 and beyond that 1.4150.
A break below 1.4000 would find initial support at 1.3980 and if that is exceeded will likely head for 1.3945. 1.3900 is the support level beyond.
There is a upward sloping trend line over the last couple weeks which will also provide support around 1.3950.
[B]USD/JPY Still Has Steam?[/B]
After a strong run up yesterday it appears the market may try to test further resistance above 97.00. Although, this is likely fail as there is a strong resistance band between 97.20 and 97.45.
Therefore, while there is a bit room on the upside currently the bias is downwards if it gets up into those areas. If it stays in that area it would be a bullish sign but movement beyond 97.45 is unlikely today based on current averages.
On the downside support is at 96.50, 96.20 and 95.80.
[B]Analysis by ForexPros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD Heading Higher?[/B]
Bias for today is higher, but a narrowing range after the steep decline near the end of last week could mean a break in either direction.
A push above 1.3990 would be the first indication of a rise, with 1.4020 acting as resistance but 1.4080 a reasonable target beyond. Resistance is also likely in the 1.4050 area.
A drop below 1.3950 would indicate some weakness and overall indicates a move to 1.3840, but there is strong support at certain levels so a move to that level is not highly likely.
Support levels are 1.3940-1.3930, 1.3900-1.3890 and 1.3880-1.3870
[B]USD/JPY Drop and Rise[/B]
The pair is falling in early trading this week, but is likely to encounter support by 95.30. If that fails, 95.00 is the support level beyond.
Once getting into this support area, a bounce is likely. A continued fall would be quite bearish.
Upside resistance from where the pair currently trades is 95.70, 95.90, 96.10 and 96.30.
[B]Analysis by ForexPros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD for July 7[/B]
Push above 1.3990 would be an early signal of bullishness. A move above 1.4000 would confirm. Resistance is at 1.4020, 1.4040 and 1.4100
A drop below 1.3940 indicates weakness and a test of the recent lows near 1.3880 would come into play. Support is also just above this at 1.3900.
[B]USD/JPY Bias Up[/B]
Strong finish yesterday put the pair in a bullish spot, yet it still has to climb above a resistance area around 95.40. If it can, resistance is beyond at 95.60, 95.80 and 96.10.
Failure to really push above 95.40 will likely encounter some minor support at 95.10, 94.90 and 94.70 as the pair pulls back. A drop below that level is unlikely but support beyond is 94.45.
[B]Analysis by ForexPros – Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
[B]EUR/USD Recent Lows Hold[/B]
The pair once again tested the support area in early trading today after choppy trading yesterday.
The lows have been tested and appear to have succeeded in holding, which means the bias is upwards for today.
The support range is between 1.3880-1.3870. A drop below will likely test 1.3830 and 1.3800. A break below 1.3800 will likely test mid-June lows at 1.3750.
Resistance is at 1.3950, 1.3980-1.3990, and yesterdays high at 1.4050.
[B]USD/JPY Heading Towards Support[/B]
In yesterdays post I wrote that the pair had to push above 95.40 resistance in order to set up for a bullish move. It did not, and that has resulted in over a 100 pip dive so far.
Major support is a little ways away still at 93.80, which was a late May low. Support beyond that is at 93.50 and is expected to hold through the session if the pair continues to fall.
A bounce is likely off these support levels.
Resistance currently is at 94.50, 94.70 and 95.00. A move beyond 95.40 is unexpected today but would be favorable for a rise over the next few days.
[B]Analysis by ForexPros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.