EUR/USD moved to the upside only to form a doji candlestick on the 4-hour filter chart. Consolidation continues but the bearish trend will likely continue. I think next target is around 1.07.
price fail to correct and consolidated under 1.1000. the bearish trend is still Valid
EUR/USD today moving horizontal path throughout the day, I expected to continue the downward path for this week to 1.0700 area with and then to 1.0500, while the 1.1120 levels remain strong levels of resistance.
Great week for all
Yesterday the EURUSD initially rallied but found enough selling pressure at 1.0906 to turn around and close near the open of the day. If we were at a bottom this could be a signal that the price was ready to reverse by the inverted hammer pattern but this is not the case and a break below Monday’s low would signal a continuation of the bearish trend.
The EUR/USD sank below 1.0800 for the first time in almost 12 years today, this pair seems have very little room to correct higher, bears target at 1.0072, which is very close to the parity.
This is the 35th week since the last time EUR/USD made a new four week high back in June. That puts this downward move among the most significant ever for the pair. A 1999 downward move went 31 weeks without a new 4 week high. The 2008 financial crisis downward move took just 20 weeks and struck a new 4 week high mid-move. Peak to trough, that move was just over 3700 pips. This current move just struck 3270 pips from the June 2013 peak. If it gets to parity without striking a four week high, it will be more significant than the 2008 financial crisis move in both duration and depth. Stay short homies.
-Adrian
ABSOLUTELY!
I made two cycle-based analyses over a video and then a (published) article for a EUR/GBP bounce
from a projected 0.77 level, and… we are now around 0.71… I was wrong by six hundred pips!
Thank God I never gambled my money on my own theories!!
EUR / USD moved slightly upwards and returned to play in the resistance of 1.0915.
The trend remains downward confirmed by the technical oscillators.
The RSI, entered the oversold zone and fell and the MACD is below its zero line and signal.
The EUR / USD is showing minimum and maximum lower and below both moving averages 50 and 200 days.
EUR/USD continued sinking today. Next target is likely 1.06, but I am not seeing any obvious strong levels of support on the way to parity. I think it’s just a matter of time before the pair reaches 1.0000.
Do you mean 1.0715?
The EUR/USD today completed the downtrend as expected yesterday, where it opened a 1.0835 and rose two points in the first trading period and then resumed his way down to 1.0693, so the next target will be 1.0000 .
bearish trend continue today and soon 1.0000
You are right, eur/usd keep making fresh low today, so far I can’t see the end of the bearish movement.
I agree, further losses now look very possible.
The EURUSD just keeps dropping and it may not stop until it reaches parity, so far it stays below the 1.0700 level, targeting the 1.0600.
Intetesting how you lot are the only ones think parity. I note that the big banks sell side research suggest that the low for the year has been reached and the pair will now range between abou 1.05 and 1.15. There’s even a couple of banks that fell the price will creep up past 1.25 by years end. Finally I also suggest you might like to check out jack the pipper latest blog. Time will tell but time has also demonstrated the we speculators are always on the wrong side
Come on guys, don’t call bottoms now.
-Adrian
Now thats the type of bottom I like to call.
As normal this thread contains a whole heap of nothing. Yesterday’s news read tomorrow. Apart from yourself and pipmehappy there’s not an original thought out there. Just unsubstantiated unqualified views of a herd mentality.
Now parity could very well be on its way. But the markets are notorious for overshooting the mark. QE began this week and good NFP last friday has sent the price even further south. But the markets began factoring in QE weeks ago and we are the only ones suprised by the NFP data. So just as likely as the price will continue south it could just as easy turn north back above 1.10 and then we would really have something to think about. My research shows that a majority off sovereign bonds are held by foreign investers. And you can bet your last dollar that investment is hedged. So a lower euro will do those guys no favors. It might have only taken 9 months for the price to drop 3000+ pips, it could very well take longer for the next 1000.
[QUOTE=“bobbillbrowne;687812”]Now thats the type of bottom I like to call. As normal this thread contains a whole heap of nothing. Yesterday’s news read tomorrow. Apart from yourself and pipmehappy there’s not an original thought out there. Just unsubstantiated unqualified views of a herd mentality. Now parity could very well be on its way. But the markets are notorious for overshooting the mark. QE began this week and good NFP last friday has sent the price even further south. But the markets began factoring in QE weeks ago and we are the only ones suprised by the NFP data. So just as likely as the price will continue south it could just as easy turn north back above 1.10 and then we would really have something to think about. My research shows that a majority off sovereign bonds are held by foreign investers. And you can bet your last dollar that investment is hedged. So a lower euro will do those guys no favors. It might have only taken 9 months for the price to drop 3000+ pips, it could very well take longer for the next 1000.[/QUOTE]
Thanks bobbillbrowne, saw a huge resistance to South., I’m going North today
Good stuff bro, hope that’s based on your trading plan not my commentary. My bias is still very much bearish but someone out there is buying up big on euro. If it’s not institutes hedging investments or the ECB then someone will be looking to sell for a profit. Or I could be completely wrong!!! lol. It’s also ok to be wrong.