The year end we will see a lot of unexpected moves
There is a gap up.
This may mean the correction has more room to run.
EURUSD hiked higher during the course of Fridayās session, but struggled at the 1.25 handle again. The pair closed near the high of the day and its range is within the previous day range creating an inside day.
A daily close above the 50-day moving average can change the mid-term outlook from bearish to bullish. A head fake on the 50-day moving average can offer a great selling opportunity as the market then should drive down to the 1.2250 level.
Even though the EURUSD went up last week, this week could be a bearish correction.
EUR/USD formed a marubozu candlestick on the daily filter chart and, as expected, started descending again. That said, I am not so sure whether that new movement to the downside is part of the correction or the overall bearish trend and considering how sluggishly the market is moving at this time of the year it may not become clear until January.
EUR/USD moved high after finding support on the moving average of 50 periods and break above the falling trend line.
However, the movement stopped by the moving average of 200 periods.
The short-term signs indicate the possibility of a downward movement with the daily chart reveal maximum and minimum lower below the moving averages of 50 and 200 days.
R3 - 1.26001
R2 - 1.25425
R1 - 1.24988
Daily Std. Pivot - 1.24412
S1 - 1.23975
S2 - 1.23399
S3 - 1.22962
Great assessment for today, thank you.
well 1.2480 proved to be a strong resistance point price keep rebounding from there. In my opinion going short now will not be the best option. I will wait either breaking under yesterday candle or breaking the resistance line.
Good analysis, I agree. There are 2 scenarios, we just donāt have clear view of which one is going to be.
I agree, Iām staying on the sideline for now.
The past several days has seen EURUSD enter a sideways consolidation pattern between 1.25-1.24, perhaps before the all-important US CPI data out today, which is expected to heavily influence the Fedās interest rate timeline.
As a reminder, high inflation will lead to expectations of an early 2015 interest rate raise, while low or below expected inflation numbers will push back rate hike expectations. An interest rate hike is generally seen as a positive for the currency with the higher rate.
EUR/USD moved high after finding support near the 1.2406 line (S1). However, the movement has been overcome by the moving average of 200 times, which proved to be a good resistance to the recent price action.
Would expect a break above the moving average of 200 periods trigger more increases extensions.
On the daily chart, there are maximum and minimum lower, below the moving averages 50 and 200 days, and this keeps the downward trend overall.
The positive difference between the daily momentum studies and the price is still intact, indicating that the downward trend in long-term is losing momentum, allowing the EUR negotiate corrective way up.
R3 - 1.25350
R2 - 1.25067
R1 - 1.24708
Daily Std. Pivot - 1.24425
S1 - 1.24066
S2 - 1.23783
S3 - 1.23424
Despite the marubozu candlestick on the daily filter chart EUR/USD continued on its way up until it reached the strong resistance at 1.2570. In case it does break above that resistance level I think it will likely reach target 1.2700.
Today was a good day as soon as the price broke 1.2480. my position got target 50 pips in less than 30 minutes. now I will wait a break over 1.2575 which is a strong resistance or under 1.2420
Good resistance on the EURUSD around the 55 EMA, it still has to break that moving average if it wants to reach the 1.2600 level.
EURUSD rose during the course of yesterday session, but lost steam just above the 1.25 handle. A break below the yesterday low we should see sellers coming into the marker and could then head to the 1.2250. The yesterday close above 1.25 handle may trigger a short squeeze.
EUR/USD couldnāt break the resistance at 1.2570 and started descending again. That said, I think the movement to the downside is just part of the correction. I think the pair will break below the support at 1.2250 and continue the bearish trend in January.
again a break under yesterday candle was successful got 40 pips now I am waiting for a break under 1.2350 to decide to sell short what do you all think?
EUR / USD moved on a high with the preliminary PMI compound block within Euro to rise to 51.7 in December from 51.1 earlier, beating expectations of 51.1 market.
The EUR / USD had an additional boost after the second consecutive increase in the expectations index.
This may facilitate the continuation of an upward corrective phase.
R3 - 1.26616
R2 - 1.25885
R1 - 1.24659
Daily Std. Pivot - 1.23928
S1 - 1.22702
S2 - 1.21971
S3 - 1.20745