I think the time of the euro has come. have a great weekend everyone
This will be a warning.
The EURUSD may try to correct some more to the upside, but it is still very weak.
EURUSD pair initially fell during the course of the session on Friday, enough support at 1.24 to turn things back up and gain sufficient momentum to break and close above the 1.25 level. This is a very bullish looking candle and as a result the pair should continue to go higher for the short-term. Ultimately though there is plenty of resistance to the up side and it’s likely that this pair in the mid-term will resume is downward trend.
Well how dumb do I feel for going short at 1.25686 early on today. Don’t you lot recognize profit taking on a Friday. Oh well, Price is bouncing at 1.2503 now so might be time to bank some pips. 60 pips to start the week makes Bob happy.
This thread now bores me. Yesterdays news tomorrow. One last gift my chart for the week. Green buy zones red sell
EUR / USD recovered the line of 1.24303 (S1).
Today in Asian morning, rose above the resistance (turned into support)
However, the increase was stopped at the resistance barrier 1.25784 (R1).
The RSI moved above its line 50 and is pointing up, while the MACD crossed above zero both lines and signal.
There is a positive divergence between both the momentum and the daily price action, which reveals the slowdown of momentum “bearish”.
R3 - 1.27265
R2 - 1.26361
R1 - 1.25784
Daily Std. Pivot - 1.24880
S1 - 1.24303
S2 - 1.23399
S3 - 1.22822
bewayopa | Trading Ideas
Although EUR/USD climbled to 1.2575 the hammer candlestick formed in the 4 hour filter chart was a clear indication that the move to the upside was only temporary. The downward trend continues and is likely headed for target 1.2330 for the moment.
This is a great trade for today, thank you.
Honestly I started to doubt that the EUR/USD is moving on any technical or fundamental analysis this days more than in a spontaneous way.
I guess you are right, I thought we had bounce today, but no, the bounce was not sustainable at all. Price breaches below 1.2450, downward movement continues.
Yeah, I agree with you guys , thank you.
The EURUSD tried to rally to the upside, but fell rather hard and closed well below the 1.25 level near the low of the day. The resistance at 1.2577 is holding and as a result sellers step into this pair every time it rallies.
The market is eventually going down to the 1.2050 region, therefore the rallies are simple selling opportunities as the US dollar should continue to be one of the safest currency around the world in the moment.
Another sell opportunity maybe.
Even though the EURUSD is still in a longer term downtrend, it is currently trying to correct to the upside. lets see how much ground can it cover.
Yes, let’s see a breach of 1.2500 will lead us to 1.2540 or even higher.
It looks like the EUR/USD consolidation continues and it might be too early for any long-term prognosis before that ends.
The dollar traded low against the EUR.
Euro began showing strength before the release of the German ZEW survey for November and had an additional stimulus after the release of the numbers.
The big surprise was the rise in the expectations index of -3.6 to +11.5.
Here may result in an upward continuation of the EUR / USD corrective phase.
R3 - 1.26676
R2 - 1.26224
R1 - 1.25350
Daily Std. Pivot - 1.24898
S1 - 1.24024
S2 - 1.23572
S3 - 1.22698
bewayopa | Trading Ideas
Good analysis, thanks.