I agree with you victoriajensen, it does seem quiet today, as long as eur/usd is trading below 1.2450 bearish trends continue.
The euro move up looks like it could be another sell opportunity.
Bearish momentum drops, EURUSD moved in a tight range under 1.2500 yesterday, creating a sideways consolidation pattern. I still remain bearish on the Euro and bullish on the USD, though oversold conditions and a relatively light news week up until Friday could keep us from seeing another major move downward (and possibly even mild upward correction). A sustained break below 1.2400 is needed to increase bearish momentum once again.
It looks like range continues for EUR/USD. The market seems to be exceedingly calm today. I took a look at the economic callendar and it appears that it will stay that way at least until Friday.
Price seems to rebound every time it touches 1.2500 I think itâs a good entry point for a sell position.
EUR / USD fell yesterday after touching the moving average of 50 periods.
The RSI found resistance near its line of 50 and is pointing down, with the MACD already in negative zone.
R3 - 1.25615
R2 - 1.25294
R1 - 1.24828
Daily Std. Pivot - 1.24507
S1 - 1.24041
S2 - 1.23720
S3 - 1.23254
bewayopa | Trading Ideas
Nothing much changed from yesterday, it seems 1.25 level become strong resistance and so far it holds, we need to see breakout of 1.24 for further decline.
Just another ranging day, I guess.
EURUSD pair initially tried to rally during the course of yesterday session, but found enough resistance of the 1.25 level to turn things around and close near the low of the day creating an inside day. It appears that the pair is ready to continue moving lower ultimately reaching the 1.2050 level which is a âround-tripâ for the entire uptrend, although it will be rather choppy all the way down there.
It looks like the EUR/USD range will continue today as well.
Yes Victoria, I am totally agree with you on that point.
EUR / USD remains limited below its falling trend line and moving average of 50 periods.
Is formed a symmetrical triangle that reflects the indecision of investors although it is usually a continuation pattern.
Thus the outlook for the EUR / USD are descended.
The good fundamental for the dollar are also matched by good technical staff.
The US currency recently achieved a major technical result.
Last week, the DXY index broke above the falling trend line 30 years the maximum March 1985. Technical analysts are awaiting the close above this trend line this week, somewhere above 87.0.
If so, you may mark the beginning of an upward long-term trend in US currency.
R3 - 1.25619
R2 - 1.25296
R1 - 1.24832
Daily Std. Pivot - 1.24509
S1 - 1.24045
S2 - 1.23722
S3 - 1.23258
price is forming a triangle on the 4 hour chart we might see another break on the price
With Eurozone inflation release relatively overlooked by markets, focus for the Eurozone instead turned towards the ECB professional forecaster survey. In terms of their outlook, they slashed their GDP and inflation forecasts for 2014, 2015 and 2016, with fixed income and equity markets responding in a manner that suggested this furthers the call for additional stimulus measures.
However, thereafter the pair traded in a relatively range bound manner with little else on offer to dictate the pairs price action. Looking ahead, all eyes will be on tomorrowâs slew of GDP releases from the Eurozone, with growth from France, Germany and the Eurozone expected to pick up from the previous quarter.
We have some good news today with the German and french growth it will not be long until the market will get effected by those data.
The EUR/USD consolidation has continued for over a week now and it doesnât look like it will end today, so we may have to wait at least until Monday before we see any major change. That said, I think that it will likely continue descending once the consolidation ends and will reach at least 1.2200, perhaps even 1.2000.
I agree, there is no sign of correction yet, overall trend is still bearish.
Will we see 1.24 today? Bearish trend continue indeed.
EUR / USD remains limited below the moving average of 50 periods and within a symmetrical triangle formation.
There were some attempts to break the trendline short term, but none found much support.
Typically, triangles are symmetrical considered as a continuation pattern.
R3 - 1.2745
R2 - 1.2620
R1 - 1.2535
Daily Pivot - 1.2446
S1 - 1.2360
S2 - 1.2300
S3 - 1.2250
bewayopa | Trading Ideas
EUR/USD did break the Symmetrical Triangle in 4H chart and above the the moving average of 50 periods.
Will this the sign of reversal?
If this is a correction what will be the highest value EUR/USD reaches before it starts bearish movement again? :33: