EUR/USD Technical Analysis from a Newbie (need to be confirmed)

EUR/USD went down yesterday after the ECB has presented a QE stronger and lasting than expected.
The short and long-term trend is downward and the momentum shows it clearly.
The RSI in oversold, touched the 30 line resistance and moved downwards, the daily MACD continued to fall into negative territory.
R3 - 1.19036
R2 - 1.17762
R1 - 1.15705
Daily Std. Pivot - 1.14431
S1 - 1.12374
S2 - 1.11100
S3 - 1.09043

It’s amazing what is happening to the Euro and let’s see if there will be another fall when the price opens on Monday.

Let hope so. :cool:

The EURUSD is very close to touching the 1.1100 level and it could go lower than that if the fundamentals dont support the Euro.

EUR/USD touched 1.1100 and bounced back to 1.1180 quickly. Will it touch 1.1100 level again today?

“Euro-Shrugs-Off-Widely-Expected-Greek-Election-Outcome” by Ilya Spivak of DailyFX

EURUSD initially fell during the course of the session on Friday, breaking below the 1.11 handle. However, we ended up finding enough buyers down there to turn things back up but still closing well in the red. A retracement could offer us a selling opportunity at higher levels such as the 1.1460 level.

The EUR/USD chart opened with a small gap after the elections in Greece on Sunday which the pair quickly recovered and it appears to be consolidating again. I think the bearish trend isn’t over yet and next target is likely 1.1000.

I agree the correction on the 4 hour chart doesn’t have a strong volatility

I think that the pair will break throw the 1.10 soon and heading to 1.08 too.

I think that the euro will fall at the start of tomorrows london session. It hit the 1,1290 rĂ©sistance level and it looks to me like it’s holding.

After known the victory of the anti-austerity Greek party, Syriza, the EURUSD has been with the support zone of 1.1122 (S1), determined by the minimum of September 17, 2003.
The short-term trend remains downward.
However, knowing that the fall from Thursday was too great, and that the European indices have been very positive is important to anticipate a corrective upward movement before the EUR go his way.
R3 - 1.15189
R2 - 1.14069
R1 - 1.13206
Daily Std. Pivot - 1.12086
S1 - 1.11223
S2 - 1.09240
S3 - 1.09240

We can see some kind of corrective bounce in the euro, but I think the bounce would not alter eur long term bearish trend.

You are right, yesterday’s correction movement suggesting bears taking a break, the euro could still drop to below 1.100 soon enough.

Good range for today on the EURUSD, from the 1.1100 to the 1.1300 level. Lets see if the price goes back down and tries to break below the 1.1100 level. Again.

EURUSD rose during the course of yesterday after initially gapping lower. This shows that the market already price in the Greek elections and that the pair more than likely is going to retest the 1.1460 level that was a previous support that now turned into resistance.

It looks like the retracement on the EUR/USD might last a little longer after all. I too think it will likely retest the 1.1460 level. That said, there’s no indication that the bearish trend is over, so retracement or not, the pair will likely continue dropping.

I’m ready for a short as soon as the bulls are done playing optimistic :stuck_out_tongue:

Most probably the correction will continue until the Fed meeting this week.

Yes, all eyes on the FED tomorrow.