price is making small correction but I don’t think it will continue. even with last week’s hammer I have no faith in the euro
The EUR/USD is consolidating after the big drop last week. The question is how long will this consolidation last. Personally, I do think it’s high time for correction but at the moment there is no signal that correction is about to begin.
Also, the downtrend is so strong as you see, but no signs for the lowest bottom for the pair.
EURUSD rose on yesterday session but with a narrow range creating an inside day. The pair is trying to build up enough of a bullish momentum to head back to the 1.18 level. Be aware, this week is “do or die” for EURUSD due to the ECB monetary policy statement on Thursday and the Greek elections on Sunday.
EUR / USD recovered yesterday but touched the resistance and retreated a bit.
The short-term trend remains downward.
The daily oscillators indicate the speed of momentum “bearish” and open the way to future falls.
The 14-day RSI is oversold and pointing down.
The daily MACD is below the signal line and pointing down.
Shows minimum and maximum lower and below the two moving averages of 50 and 200 days.
R3 - 1.17355
R2 - 1.16871
R1 - 1.16466
Daily Std. Pivot - 1.15982
S1 - 1.15577
S2 - 1.15093
S3 - 1.14688
Very tight range, not even any reaction to ZEW data.
EUR/USD formed several dojis in the 4 hour filter chart under the resistance level at 1.1610 and slowly began dropping but it hasn’t broken below the support at 1.1540. Frankly, I don’t think we can expect big movements before ECB monetary policy statement on Thursday.
I agree Victoria I don’t think anything will happen much until thursday.
We’ve been talking long time about correction and i think we are too close to it.
No one wants to take risk before Thursday, I guess.
EURUSD fell during the course of yesterday session, but did not move very far from Mondays low at 1.1551. The pair is in a sideways action waiting for the “do or die” events the 1st one tomorrow with the ECB monetary policy and the other one on Sunday the Greek elections. So be aware of explosive volatility in the next few days.
‘‘do or die’’ seems to be accurate for the current situation.
Yeah, i agree with that, but we will see what tomorrow brings to us.
Another slow day for the EUR/USD pair. I am sure that after tomorrow’s ECB rate decision and Mario Draghi’s press-conference the market would be anything but slow. And then there’re the Greek elections on Sunday. This is like the calm before the storm.
EUR / USD was stable during yesterday closing slightly downwards.
The short-term bias remains negative, but given the positive divergence between the RSI and the price action, we can see some reactions.
On the daily chart, the price structure is with downward trend and forming minimum and maximum lower and below both moving averages 50 and 200 days.
R3 - 1.16691
R2 - 1.16416
R1 - 1.15948
Daily Std. Pivot - 1.15673
S1 - 1.15205
S2 - 1.14930
S3 - 1.14462
tomorrow is the big day I guess it’s normal for today the market to be dead
EURUSD tried to rally during yesterday session but found enough selling pressure on the 10-day moving at 1.1680 to turn things back down to the open price. The pair closed near the open of the day creating an inverted hammer pattern. Stochastic is showing a slight bullish momentum and volume is falling as investors wait for the ECB monetary policy statement.
Be prepared for the worst but hope for the best!
Good luck to whoever still in the market.
I take it we are experiencing one of the painful incertitudes hanging over planet eurozone. What is your strategy? I took the prescription to stand on the side and just observe the stampede showdown. Then will enter when the calm has set. No, I am lying, I put up two orders on 1.1750 and 1.1680. What is your plan?
So what do people think, EUR/USD heading up or down following the ECB MPS?