Although EUR/USD was met with a pretty strong resistance around the 1.2460 level and formed an inverted hammer candlestick pattern under the resistance level, the pair is still testing the resistance. At this point, I think, it is uncertain whether the movement to the upside will continue or the pair will begin descending again.
EUR / USD continued high on Tuesday to hit resistance.
The 1.2250 is now a key reference area.
There is a positive divergence between both our short-term oscillators and the price-action.
On the daily chart, can be identified possible formation of candle āmorning starā, which favors the continuation of recovery.
The daily momentum indicates climb.
R3 - 1.26051
R2 - 1.25263
R1 - 1.24493
Daily Std. Pivot - 1.23705
S1 - 1.22935
S2 - 1.22147
S3 - 1.21377
Very useful analysis for today, thank you.
Itās about time for the price to have a rebound I can see on the 4 hour chart a potential double bottom.
Possible visit of the EURUSD to the 1.2500 level, which could act as resistance.
EURUSD continues to find buyers on low news volume, but so far have failed to break any significant resistance, the most significant of those, in the short-term, being 1.2450.
A sustained break there is needed to signal short-term bears are standing aside. Even without that break bulls have the upper hand in the short-term, and will continue to have it above 1.2390 support. Long-term trend remains bearish.
EUR/USD broke above the resistance at 1.2460 only to start descending again after forming another inverted hammer candlestick pattern on the 4 hour filter chart. At this point, however, I am not certain whether this new movement to the downside is part of the bearish trend or part of the correction.
There is not enough data to push the Euro either wayā¦ The end of the year is good for surprise moves but trend reversals are unlikely, as traders and institutions begin taking their positions off and going on holiday. I would not worry too much about the Euro reversing now, and even then I would wait until January for confirmationā¦
Just sayingā¦
EUR/USD continues to rise with the breaking of the downward trend line.
It confirmed the formation of the āmorning starā candle on the daily chart.
However, the increase stopped by the moving average of 200 periods.
The short-term momentum is positive and even the long-term decline is losing momentum.
R3 - 1.25612
R2 - 1.25043
R1 - 1.24755
Daily Std. Pivot - 1.24186
S1 - 1.23898
S2 - 1.23329
S3 - 1.23041
The EURUSD shows a clear bearish trend in the 4h chart today.
the monthly retail sales pushed the price to fall I donāt see major technical indicator that makes me open a position.
Iām expecting further development to see clear direction.
Despite breaking key resistance level, euro still showing sigh of weakness, failed to extend the rally and struggled to hold above 1.24 level. We need to see eur/usd rise above 1.2450 for the possibility of another attempt of 1.25 level.
If the fundamentals dont change, there is no reason for the EURUSD to change direction. The pair may go back to its long term downtrend.
EURUSD initially tried to rally to the 1.25 handle on yesterday session but found enough resistance to turn back down. The pair ended up rolling towards the 1.2350 level, an area of significant support. Once the pair gets below it, Bears will show their claws, and the price will head down to the 1.2250 level. A daily close above the 1.25 handle will shift the mid-term trend to bullish.
The pair rised up to 1.2476 through the day, Peaceful friday.
Indeed, EUR/USD moved to the upside again today and appears that the correction continues. The likely target is, I think, 1.2570.
for the third day now the price keeps going up and down from the same level. we have 2 identical candles on the daily frame.
EUR / USD had no strength to continue to rise to meet resistance near the moving average of 200 periods.
Began to to trade again below the falling trend line.
However, as the positive difference between the short-term oscillators and the price action is still active and the possibility of a higher minimum and another break above the trend line still exists.
R3 - 1.2606
R2 - 1.2546
R1 - 1.2505
Daily Std. Pivot - 1.2445
S1 - 1.2404
S2 - 1.2344
S3 - 1.2303
Between this weekās activities and current positions Iām leaning toward bullish positions for now, but that can change any moment.