EUR/USD Technical Analysis from a Newbie (need to be confirmed)

[honeill]

EURUSD had a dramatic week, falling once again and losing the 1.30 psychology level as the ECB surprised with strong measures. Will we see more falls or can a correction be expected now?

[csc2009]

Tense week is coming, all the eyes on all the eyes on results of Scottish vote. There have been almost £17 billion has been pulled out of the UK economy in the last month amid concern over the Scottish independence referendum. Let’s see what happen if the vote is yes.

[peeterwoolf]

There is no certainty of the outcome, anything can happen next week.

[honeill]

EURUSD rose during the course of last Friday session, but the 1.30 level has offered resistance yet again. However, on the weekly chart we have formed a hammer so if the pair can get above the 1.30 level this market will break out to the upside and head towards the 1.3250 level.

[victoriajensen]

For a moment there I was concerned that EUR/USD might start climbing, but then it formed that black marubozu candlestick on the daily filter chart, convincing me once more it will continue its descent to 1.2750 - 1.2700. That said, we might see some range first so I don’t think I will start selling again before I see a clear break below the support level at 1.2860.

[Abdul2012]

Great idea, and i will wait too. thanks.

[csc2009]

Light economic calendar today, resistance and support around the 1.2975 - 1.2860 regions, but I doubt we will have any breakout or breakdown opportunities today.

[bewayopa]

The dollar traded mixed against its major pairs G10 this monday morning, with no significant economic events. Appreciated against the EUR, NOK and CHF, in that order, and devalued as the GBP, CAD and NZD. The dollar was stable against the JPY, CHF and SEK.

[sherif_fares]

let’s see how the market will react tomorrow with the German data if it comes negative as usual

[peeterwoolf]

We had a bit of bounce yesterday, the German data might lead to breakouts or breakdowns, let’s see.

[_bob]

We had a bit of bounce yesterday, the German data might lead to breakouts or breakdowns, let’s see.

That’s lovely tech analysis. German data might lead to breakouts of breakdown. Must be nice sitting on the fence.

[arbitrager]

Shorted at 1.3428 on the 25th of July after it broke a new 100 day low and then some. Stop is now at 1.3158 (seven day high). It looks like the seven day high will likely drop to 1.2991 or so tomorrow, that is where my stop will go, I will take profits at the next break of a seven day high. I imagine there is much more room to go south, but I don’t trade my hunches just the price action.

My stop is now at 1.29855 to lock in 443 pips.

In the run up over the last year, the new highs were all less than 700 pips above the 200 day moving average with one exception in January where the price got to 900 pips above the moving average. Because we hit 757 pips below the 200 day moving average this last week we could see a decent bounce before heading lower. But as retail investors are net long, their stops could get us into some of that 800-900-pips-off-the-200-day-moving-average territory before the bounce.

If we get that bounce sooner rather than later, I will take profit with that stop and go back short on the next break of a three-day low.

[honeill]

EURUSD pair fell during most of yesterday session, but bounced from the 10 day moving average closing above it. Because of this, the market is going to try to test the 1.30 level, an area that is significantly resistant. A sustained break above the 1.30 significant level, will push the pair to the 1.32 region, and possibly as high as 1.3250 as there is a gap there. Ultimately, a break of the last week consolidation between 1.2979 and 1.2859 should be tomorrow (Wednesday).

[Abdul2012]

I think that the second scenario is the strongest for tomorrow.

[victoriajensen]

The EUR/USD consolidation continues and I am beginning to suspect we’ll have to wait for FED tomorrow before we see any further developments.

[bewayopa]

The dollar has traded today unchanged or higher compared to its G10 counterparts.
Rose against the SEK, NZD, AUD, GBP and NOK, in that order, whereas it remained unchanged against the USD, JPY, EUR and CAD.

[sherif_fares]

price bounced after the negative american data but it wasn’t enough for breaking the resistance point 1.3000, tomorrow’s Yellen is going to speak let’s see how the market will react

[csc2009]

A bit of bounce again today, but market still trading flat, I guess we are all waiting for the storm tomorrow.

[arbitrager]

My stop is now at 1.29855 to lock in 443 pips.

In the run up over the last year, the new highs were all less than 700 pips above the 200 day moving average with one exception in January where the price got to 900 pips above the moving average. Because we hit 757 pips below the 200 day moving average this last week we could see a decent bounce before heading lower. But as retail investors are net long, their stops could get us into some of that 800-900-pips-off-the-200-day-moving-average territory before the bounce.

If we get that bounce sooner rather than later, I will take profit with that stop and go back short on the next break of a three-day low.

Tuesday’s high of 1.29964 took out my stop and I booked my 443 pip profit. I will look to short again at any break below the current 1.29099 3-day low, but with only one unit. We could easily have a widening of volatility taking out both the 3-day low and the 3-day high all in the next 72 hours. We may get a nice bump higher and I would prefer to go short again after such a bounce.

[peeterwoolf]

Yes, we had bounce today, but I still think euro is weak and these are DeadCatBounce.