The EUR/USD formed a positive day reversal but only a daily closing above 1,3653 will confirm a s/t bottom supporting a higher retracement.
The indicators of the daily chart are however still below the line as well as those of the 4h one. Only the indicators of the hourly chart already returned above the line supporting the correction. An hourly closing above 1,3653 will even favour an extension of the move up suggesting a rally toward the 200 hours line at 1,3725. This possible move up is corrective and therefore a selling opportunity but in our view only close to the 200 hours line.
I wait for higher levels to sell
The EUR/USD confirmed a strong closing on Friday but only a daily closing above 1,3796 tonight will confirm a s/t bottom supporting higher levels. The weekly closing was also positive forming a positive week reversal.
The indicators of the weekly chart are still negative but those of the daily one turned already above the line. We need however more confirmations. Those of the s/t ones are also positive but they went overbought showing also potential negative reversals. The move up started also forming bearish divergences in the hourly chart suggesting a possible change of tone. Possible therefore an extension of the move up toward 1,3850 where we expect decent resistance. Before moving higher we favour however a retest of the 200 hours line at 1,3727.
I believe forex news - easy
The EUR/USD confirmed a correction but much deeper as we expected after the strong move up on Friday. It formed a negative day reversal reversing therefore the strong performance of last week and re-launching therefore the move down.
Only a break below 1,3480 will however confirm lower levels!!
The indicators of the daily chart are again turning below the line and also those of the s/t ones are negative this morning supporting lower levels. We expect some support at 1,3550 before 1,3480 while on the upside only an hourly closing above 1,3645 will postpone the decline favouring another test on the upside with the 200 hours line at 1,3714 the possible attraction!!
I stay on the sideline waiting for a trading opportunity.
Well, I added to longs at 1.3490 but I would advise not following my trades…
The EUR/USD confirmed yesterday further consolidation interior the positive outside day reversal. We have therefore 1,3545 – 1,3245 still the levels to follow in the coming hours/ session. Only a daily closing above 1,3545 will support further strength suggesting a return for the EUR DOLL toward the 1,37 area.
The indicators of the daily chart are still below the line for now and probably only a daily closing above 1,3545 will turn them up. Those of the s/t ones are mixed this morning supporting some consolidation. The move up failed yet to produce divergences suggesting the move as an overshooting.
An hourly closing below 1,3418 will postpone further strength suggesting a retest of the 200 hours line at 1,3381 if not even a little lower!! Only a move below 1,3285 will resume the decline suggesting a s/t target at 1,2993!!
I remain on the sideline while following the outside day!!
The EUR/USD formed on Friday a negative outside day reversal after a 1,3545 overshooting; we have now 1,3560 – 1,3350 the levels to follow in the coming hours. A daily closing below 1,3350 will be very negative suggesting a possible drop toward October’s low at 1,3146!!
The EUR/USD confirmed yesterday further consolidation interior the negative outside day with 1,3560 – 1,3350 still the levels to follow in the coming hours.
The EUR/USD is confirming further consolidation interior the negative outside day with 1,3560 – 1,3350 still the levels to follow in the coming hours. Only a daily closing above 1,3560 will postpone further weakness favouring an extension of the correction suggesting a 1,37 overshooting. A break below 1,3330 will instead support a retest of the low of October at 1,3146!!
The indicators of the daily chart are still negative but those of the s/t ones are above the line this morning supporting a possible move up. Only an hourly closing below the 200 hours line at 1,3999 will probably resume weakness!!
I wait for further confirmation but overall we still expect higher levels for the EUR/DOLL before lower ones.
The EUR/USD formed a negative outside day closing below the support of the previous one supporting further weakness. Possible a drop toward the 1,3212 level with even an extension toward the low of the year at 1,3146!! We have now 1,3470 – 1,3275 the levels to follow.
The indicators of the daily chart are well negative and also those of the s/t ones are below the line supporting further weakness. Bullish divergences in the hourly chart support again a negative tone.
Despite the bearish outlook we avoid having a short position below 1,33.
The EUR/USD confirmed on Friday further consolidation interior the negative outside day. The closing was however positive and above the opening. We suggest following still the levels 1,3470 – 1,3275 for a possible break out!
The indicators of the daily chart are well negative as well as those of the weekly one. Those of the s/t ones are instead mixed this morning supporting further consolidation. Only an hourly closing above 1,3435 will postpone the negative scenery supporting a higher retracement with the 200 4h line at 1,3570 the possible attraction.
We remain on the sideline waiting for stronger signals but the risk is still on the downsid
[B]EUR/USD[/B]: As long as 1.3199 (reaction high from 1.2945) holds, downtrend from 1.4940 may resume later this week and a daily breach of 1.3000 would re-test of 2011 low at 1.2860. But as daily indicators would display ‘bullish convergences’ on next decline, support at 1.2774 would contain weakness.
[B]GBP/USD[/B]: Rebound from 1.5408 suggests recent fall from 1.6167 has made a low there and consolidation with mild upside bias is seen for re-test of 1.5779. But daily close above there is needed to retain bullish prospect of further headway to 1.5877.
[B]USD/CH[/B]F: Sharp retreat from December’s near 10-month peak at 0.9549 to as low as 0.9245 last week confirms up move from August’s lifetime low at 0.7072 has finally formed a temporary top. But subsequent rebound to 0.9400 suggests sideways move is seen initially this week and as long as resistance at 0.9433 holds, downside bias remains.
[B]USD/JPY[/B]: Failure to penetrate daily resistance at 78.29 suggests US dollar remains in ‘consolidate’ mode. But as long as support area at 77.62/69 holds, upside bias remains and a daily close above resistance at 78.29 would extend gains toward 79.00/10.
[B]EUR/JPY[/B]: Yesterday’s narrow movement suggests further range trading is seen after early decline from last week’s high at 102.55 to 101.45. But as long as 102.35 holds, downside bias remains for another fall toward 101.45 later today. Only above 102.55 aborts bearishness prospects.
[B]GOLD[/B]: Spot gold marking losses in thin, choppy markets, now down $10.07 at $$1596.88 per ounce. The spot rate has traded between $1594.95 and $1611.25 this morning.
I would agree with most of the comments, the EURUSD is headed to parody. Short term it needs a bounce, but the downside is pretty clean after a short consolidation. I would watch the channel resistance. If it breaks above, then the consolidation will last much longer, but if it stays below, it should make a new push down.
