Hi, sorry I didn’t answer you earlier, I have to say both of their answers are better than what I would say, but the concept is the same. I expect there would be no big surprise of this pair move down until the next ECP on June.
The pair has obviously flirted with the 1.37(xx) level and broken it before returning above it - only just…
Three hundred pips in a few days means that there certainly is a sell-off for the Euro… What we do not know is whether
it is all coming from ECB ‘QE’ speculation, or from technical levels (the 1.4000 level being too strong to break, historically),
or from some capital repatriation from periphery bonds (Italian and Spanish)… It could be a combination of these factors,
in which case there is a strong possibility that this is enough spark to light the fuel of de-leveraging of EUR/USD longs on
massive scale…all the way down to below 1.30(xx)…
Cheers.
Be careful because this recent price rejection on the 200 day moving average can push EURUSD back to 1.38.
Indeed, honeill… Also, the long-term trendline support is around 1.3700, and it has held in the last 24-48 hours…
EUR/USD is currently meandering around this price zone without any direction or drive, practically flat-lining…
A quiet trading day for other pairs too, it seems, in the absence of big news…
Thanks for the advice.
Hey there.
A small update on Eur/Usd.
Please see key notes on the picture:
As I mentioned on the picture:
- Impulse down is still developing (not finished yet). Its Wave Level reaches D1 already. Wave Level can easily grow even higher. Will be growing until particular conditions happen (AO d1 or FZR h1 up - please see picture).
Bad data as I was expecting today, USD is loosing ground again and the EURO going up back to 1.39:35:
I don’t know if EURUSD will have the strength to bounce from 1.37 level?
I don’t think this pair has the strength today, and tomorrow is Friday, so I’m not sure for tomorrow either.
Next stop for the EURUSD is the 1.36 where my target is set.
If it does hit 1.36 which I’m quite sure is doable, I will be soooo excited :59::59::59:
Today eur/usd trades at 3 month low having reached 1.3616 before bouncing bit, hourly chart shows the price still below the bearish 20 sma .
Today EURUSD is having a breath (Memorial Day) before the next fall!!
It looks that ECB placed a big order @1.364 during Draghi’s speech from today.
I am not sure if traders can break below that level.
Can it be true ?
I don’t think it has enough volume to catch up due to today is holiday in both London and New York.
Well EURUSD has lot of resistance (10 and 200 day MA) along the way up to the 1.3700 level.
First target hit 1.3600 next is 1.3525 i hope before 5th of June!!! Let’s see.
Yes, finally eurusd is moving down below 1.36 level after 3 days consolidation, 1.35 level is likely to be the next target.
Now I’m worried EURUSD above 1.36 hopefully :51: for a short period of time!
Let’s all hope that.:51: