EURUSD has ended the week with a bit of momentum and it seems that it might again continue to do this in this week, but has to wait for its further course of action.
H1: EURUSD started to range between 1.136 and 1.12335. Then it broke out downwards and now it is building a triangle. Tops and bottoms are increasing so I see bigger chance of a rising.
Rise: If the pair breaks out from the triangle, initial target price is the H1 level of 1.136 then the height of the triangle. Of course technical levels may stop this increase.
Short: If EURUSD turns down from the resistance level of the triangle, initial take profit is the support of the triangle then the height of the triangle. In this case technical levels may stop the fall too.
[B]Forex News from New Forex: Technical analysis of the currency pair EUR/USD[/B]
Currently the pair is closer to the resistance level at 1.1296 than the support level at 1.1151 which perform the high and the low of June 12th. If the market manages to breach the current level of resistance, long positions will aim for 1.1388 and 1.1469. On the flip side, if the price drops below the support level, short positions will aim for 1.1052 and 1.1013.
H1: Uncertainty continued on EURUSD. It broke out upwards yesterday but it failed. It bounced down from the daily level of 1.132 with strong bearish dynamics and it returned to the triangle. There is a triangle on H4 too which resistance is the white line. At the moment EURUSD moves under these levels.
Rise: If the pair breaks out from the newly drawn triangle, initial target price is the D1 level of 1.146 then the height of the triangle. Of course technical levels may stop this increase.
Short: If EURUSD turns down and it breaks the support of the triangle, target price is the height of the triangle. In this case technical levels may stop the fall too.
H1: EURUSD broke the resistance of the H1 triangle with a large-bodied, bullish candle and then it moved above the resistance of H4 triangle. Local tops and bottoms are increasing so the main trend is bullish.
Rise: Initial target price is the D1 level of 1.146 then the height of the triangle. Of course technical levels may stop this increase.
Fall: Fall may occur if EURUSD turns down and it returns under the resistance of the triangle. In this case target price is the support of the triangle.
[B]Forex News from New Forex: Technical analysis of EUR/USD[/B]
After yesterday’s meeting of the Fed the US dollar has considerably lost ground versus the major world currencies. Now the former level of strong resistance at 1.1270 performs as the first support and the nearest level of resistance is at 1.1425. The market sentiment is closer to bullish with signs of being overbought. If 1.1386 is breached, the market might go to 1.1470 and further to 1.1530 and 1.1580. If 1.1245 is breached, short positions might move to 1.1220, 1.1190 and 1.1151.
H1: EURUSD started to move with powerful bullish candle dynamics yesterday morning but after a few hours – when it came close the D1 top of 15/05/2015 (1.14465) – bulls could not continue pushing it upwards and it fell down till the level where it opened yesterday. This level overlaps the 38.2 retrace of 1.12058-1.14362 rise (17/06/2015 low and 18/06/2015 high).
Rise: As local tops and bottoms are increasing, the main trend is bullish. EURUSD may test back the resistance of the triangle then it may turn upwards. Initial target price is the daily level of 1.146.
Fall: EURUSD could fall till the resistance of the triangle – as I mentioned above. Next take profit levels are the H1 zone of 1.12335 and the D1 zone of 1.113.
H1: EURUSD continued falling and it broke the white support with a bearish candle and it reached the 61.8% retrace of 1.12058-1.14362 rise (17/06/2015 low and 18/06/2015 high). Many bearish candlesticks with shadows have formed so EURUSD bounced up from this level.
Long: Take profit levels are the 161.8% and the 200% retraces of 1.14185 (18/06/2015 top) and 1.12995 (19/06/2015 bottom) fall if EURUSD breaks the last small top.
Fall: If bears can take control and they can push down the pair, take profit levels are the H1 zone of 1.12335 and the D1 zone of 1.113.
[B]Forex News from New Forex: Technical analysis of EUR/USD[/B]
Before the opening of the European trading session trades demonstrate a successful overcoming of the first level of resistance at 1.1377 and test the second one at 1.1405. However, a possibility of a pullback to support at 1.1267 still exists. The trend is slightly bullish. Long positions aim for 1.1434 today, in case of a pullback short positions aim for 1.1211.
H1: Swing highs and swing lows started to decrease today because EURUSD closed under the bottom of 19/06/2015 (1.12995). At the moment the powerful fall was stopped by the yellow, slant line which former was the resistance of the triangle.
Rise: Target price is any of the correction levels of 1.14102-1.12554 fall (22/06/2015 high and 23/06/2015 low) if EURUSD bounce up from this level.
Fall: The pair is on the way toward 161.8% and 200% retraces of 1.12995-1.14024 rise. If it breaks 200%, next take profit level is the daily zone of 1.113.
H1: EURUSD collected 161.8% and 200% retraces of 1.12995-1.14024 rise (19/06/2015 low and 22/06/2015 top). 200% was broken by a large-bodied candlestick so EURUSD continued falling till the next take profit level: 1.113.
Rise: I expect rising till the correction levels of 1.14102-1.11357 fall (22/06/2015 high and 23/06/2015 low). 38.2% retrace almost overlaps the H1 zone of 1.1233, the main trend line and the slant (yellow) resistance.
Fall: Falling may continue even without a correction. Initial target price is the next weekly zone of 1.097. If EURUSD start to correct, I would draw a new target Fibonacci Retracement.
I think we’re going to see continued selling,
That’s a massive bearish candle on the daily chart.
[B]Forex News from New Forex: Technical analysis of EUR/USD[/B]
After a serious rally with the dollar gaining ground against the single currency, trades have a slightly bearish sentiment today with the support at 1.1044 and resistance at 1.1258. The indicator of overbought/oversold is in the neutral zone. Trades to sell are more probable in case of a pullback from the resistance at 1.1258. Long positions seem riskier as trade indicators and oscillators point to the market decline.
[B]Forex News from New Forex: Technical analysis of EUR/USD[/B]
The negotiations of Greek and European authorities are not completed. Therefore this market is poorly predictable. In accordance with 25 daily Moving Average trend is bearish. The trend will stay bearish for a long time period. The index OB/OS is neutral. The price 1.1143 is a firm support level with resistance at 1.1214.However, the formation of the upward trend in the medium and short term is possibly . That is confirmed by the MACD indicator.
Forex News from New Forex: Technical analysis of EUR/USD
The currency pair has a downward trend, in the 4-hour timeframe a bearish sentiment is seen with the support at 1.1112 and resistance at 1.1192. Trend indicators and oscillators point to the further decline of the market with the possible strong support at 1.1049.
H1: A triangle has started to form on this time frame which can be found between the H1 level of 1.1233 and the W1 of 1.097. I wait for breaking out of this triangle. Both directions have the same chance of happening.
Rise: At the moment EURUSD is moving upwards. Initial target price is the resistance of the triangle. After breaking this I see a chance of reaching the height of the triangle.
Fall: EURUSD may turn down if it cannot break the daily zone of 1.113 and the resistance of the triangle. In this case initial target price is the support of the triangle. If the cross breaks the support with a large-bodied, bearish candle, next take profit level is the height of the triangle.
H1: EURUSD did not break out of the triangle which is between the H1 level of 1.1233 and the W1 of 1.097. I expect EURUSD leaving this triangle soon because this pattern is getting more and more narrow. Both directions have the same chance of happening.
Rise: At the moment EURUSD is moving upwards. Initial target price is the resistance of the triangle. After breaking this I see a chance of reaching the height of the triangle.
Fall: EURUSD may turn down from the daily zone of 1.113 and the resistance of the triangle. In this case initial target price is the support of the triangle. If the cross breaks the support with a large-bodied, bearish candle, next take profit level is the height of the triangle.
H1: EURUSD broke out of the triangle by a gap. In a few hours it tested back the former support of the triangle which functions now as a resistance. This level overlaps the 38.2% retrace of 1.12781-1.09677 fall (29/06/2015 high and 06/07/2015 low).
Rise: As candle dynamics are rather bullish, correction may continue today. Target price is the 50% and 61.8% retrace of 1.12781-1.09677 fall (29/06/2015 high and 06/07/2015 low).
Fall: If EURUSD continue falling, initial target price is the 161.8% retrace of 1.09788-1.10814 rise (06/07/2015 bottom and top), next take profit level is the 200% retrace. If it continues to correct, I draw a new target Fibonacchi Retracement.
H1: EURUSD reached the yesterday’s target price (161.8% retrace of 1.09788-1.10814 rise) then it bounced up and it corrected until the 61.8% retrace of 1.10957-1.09163 fall (06/07/2015 high and 07/07/2015 low). It could not break this level. Only a bullish candle with long upper shadow formed which indicates falling.
Rise: If EURUSD breaks the 61.8% retrace of 1.10957-1.09163 fall initial target price is 100% at 1.10957. Next take profit level is the H1 zone at 1.1233.
Fall: If the pair continues falling, take profit levels are 161.8% and 200% retraces of yesterday’s rise.
H1: EURUSD broke the 61.8% retrace of 1.10957-1.09163 fall and it reached the initial target price at 1.10957. Candle dynamics started to turn bearish so it may fall today a bit.
Rise: As small highs and lows are increasing and higher time frames indicate rising, EURUSD may reach the next take profit level at 1.1233.
Fall: If the pair turns down from this level, take profit levels are 161.8% and 200% retraces of 1.09283-1.10768 rise (07/07/2015 low and 08/07/2015 high.
