H1: As local tops and bottoms were decreasing and the candle dynamics were bearish yesterday EURUSD continued falling. It reached the take profit levels of the 261.8% and 300% of 1.10304-1.10819 (28/07/2015 bottom and 29/07/2015 top) rise.
Rise: EURUSD bounced up with doji with long lower shadows before it would have reached the H4 zone of 1.088. It started to correct. I expect the cross till the correction levels of 1.10838-1.08933 (29/07/2015 high and 30/07/2015 low) fall.
Fall: If EURUSD bounce down from here I expect falling till the H4 zone of 1.088 then till the daily level of 1.083.
H1: EURUSD broke the 61.8 retrace of 10838-1.08933 (29/07/2015 high and 30/07/2015 low) fall with a large-bodied, bullish candlestick. Next hour it closed over the bearish main trend line but it did not last long. EURUSD retreated below the bearish trend line by an engulfing candlestick.
Rise: As EURUSD broke the top of 29/07/2015 and as candle dynamics turned bullish rising may continue next week. Take profit levels are the 161.8% and 200% retraces of 1.10954-1.09651 fall.
Fall: As EURUSD broke the 61.8 retrace of 1.08933-1.11138 (30/07/2015 low and 31/07/2015 high) with a significant candlestick falling may continue next week. Initial target price is the last bottom at 1.09132. If the cross breaks this bottom, next take profit levels are the H4 zone of 1.088 and the D1 zone of 1.083.
[B]Forex News from New Forex: Technical analysis of EUR/USD[/B]
After an intense rise and fall on Friday today the currency pair is traded steadily within the support at 1.0940 and resistance at 1.1055. In a 4-hour timeframe it is seen that the market has a slight bullish tone, however, a general trend is clearly descending as the market drew a falling star on Friday which obviously implies a continuation of a bearish trend. Thus, it is preferable to enter the market with a strong resistance at 1.1112 aiming for 1.0893 and after its breach further to 1.0808.
H1: As EURUSD broke the 61.8 retrace of 1.08933-1.11138 (30/07/2015 low and 31/07/2015 high) with a significant candlestick on the Friday’s trading session. Falling continued yesterday although, the cross moved in a narrow range.
Rise: If small tops and bottoms start to increase EURUSD may turn upward. Initial target price is the top of 31/07/2015. In the longer term take profit levels are the 161.8% and 200% retraces of 1.10954-1.09323 fall.
Fall: As the main trend is bearish on H4 and the cross could not break the top of 27/07/2015 I see the chance of a further fall. Take profit levels are the 161.8% and 200% retraces of 1.09132-1.10954 rise (30/07/2015 low and 31/07/2015 high).
H1: As the main trend is bearish on H4 and D1 and as the cross could not break the top of 27/07/2015 on Friday EURUSD turned down from the weekly level of 1.097 yesterday. It reached the H4 zone of 1.088 at the end of the trading session. Today it rests under this level.
Rise: I do not think of bullish entries in the longer term. If small tops and bottoms start to increase EURUSD may turn upward. Initial target price is the top of 04/08/2015. In the longer term take profit levels are the 161.8% and 200% retraces of 1.10954-1.09323 fall.
Fall: As swing high and lows are decreasing I see the chance of a further fall. Take profit levels are the 161.8% and 200% retraces of 1.09132-1.10954 rise (30/07/2015 low and 31/07/2015 high).
H1: EURUSD has been ranging on the H4 zone of 1.088. It tried to reach the 138.2% retrace of 1.09132-1.10954 rise (30/07/2015 low and 31/07/2015 high) several times but it failed. Many lower shadows have formed.
Rise: As EURUSD could not break 138.2% retrace I expect rising in the shorter term. Take profit levels are the correction zones of 1.11138-1.0848 fall (31/07/2015 hight and 05/08/2015 low).
Fall: If bears can push down the price I watch for falling till the 161.8% and 200% retraces of 1.09132-1.10954 rise (30/07/2015 low and 31/07/2015 high).
H1: EURUSD has ranged between the H4 zone of 1.088 and the 38.2% retrace of 1.11138-1.0848 fall (31/07/2015 high and 05/07/2015 low). Candle dynamics keep changing. First it was bearish, then it became bullish, at the moment the market is flat.
Rise: As EURUSD could not break the H4 zone of 1.088 I expect rising in the shorter term. Take profit levels are the correction zones of 1.11138-1.0848 fall (31/07/2015 hight and 05/08/2015 low).
Fall: If EURUSD turns down I expect falling till the 161.8% and 200% retraces of 1.08581-1.093 rise (05/08/2015 low and 06/08/2015 high).
H1: EURUSD broke out downwards first but it bounced up from the H4 level of 1.088 and it continued correction. It reached the 50% retrace of 1.11138-1.0848 fall (31/07/2015 high and 05/07/2015 low).
Rise: As EURUSD bounced up from the H4 zone of 1.088 I expect rising in the shorter term. Take profit level is the 61.8% of 1.11138-1.0848 fall (31/07/2015 hight and 05/08/2015 low) which overlaps the bearish trend line. If it breaks with a marubozu target price is the daily zone of 1.113.
Fall: If EURUSD turns down I expect falling till the 161.8% and 200% retraces of 1.08581-1.09707 rise (05/08/2015 low and 07/08/2015 high).
H1: EURUSD broke the 61.8% retrace of 1.11138-1.0848 fall (31/07/2015 high and 05/08/2015 low) and the bearish trend line too. The H4 zone of 1.1033 stopped this rise and the cross bounced down by a large-bodied marubozu and it retraced under the main trend line.
Rise: If the weekly level of 1.097 will be strong enough and it can hold the price EURUSD may turn upward. Initial target price is the H4 zone of 1.1033. Next take profit level is the daily zone of 1.113.
Fall: As swing highs and swing lows are decreasing the main trend is bearish. I see a bigger chance of falling. Take profit levels are the 161.8% and 200% retraces of 1.08581-1.10307 rise (05/08/2015 low and 11/08/2015 high).
H1: EURUSD reached the target zone of 1.1033 with a large-bodied marubozu. Then it continued rising but it bounced down halfway between the H4 zone of 1.1033 and the daily level of 1.113.
Rise: As candle dynamics are bullish EURUSD may continue rising. Initial target price is the daily zone of 1.113 and 1.122.
Fall: The main trend is bearish on upper time frames so EURUSD has the chance to turn down. Target price is the weekly level of 1.097 and the H4 level of 1.088.
