FX:EURUSD   Euro / U.S. Dollar
Following on from daily chart , looking ahead this week.
Major daily trendline runs right through the 1.23 handle, where bulls and bears are engaging in battle leading to a tightening consolidation on Thurs and Fri             last week. Not giving us many clues as to the direction this market is headed. Connecting the highs and lows from thursday offers a nice triangle formation, my bias is bullish while above the major daily trendline . If price breaks the top of the traiangle next resistance is Feb21 high and if price drives through this level than the next major resistance is Feb07 high, 1.40 handle and also a fib 50% retracement , through here and could be in for a run at the high from Feb16.
If this market breaks the bottom of the triangle and closes below daily treandline this would be bearish for price and could well retest Feb22 low, the next support being Feb09 lows. This market could also break through the top of the triangle and fail at Feb21 highs and drop lower, and all the other possibilities, however lots of key technical areas to watch this week moving forward.
Catalysts:
Not much in the way of US data releases this week, part from GDP on Wednesday and ISM on Thursday.
Lots of European data though beginning on Monday with ECB President Draghi speech 2:00PMGMT. This could be a good catalyst for price to breakout in either direction. Following that Eurozone business confidence and German inflation numbers on Teusday, France Inflation , German unemployment & Eurozone Inflation numbers Wednesday with the focus being on eurozone inflation (a big upside surprise would be very positive for eurusd             although unlikely), Eurozone unemployment on Thursday. Lots of FED & ECB speakers through out the week also, and any other new surprises that hit the wires and finally USD strength or weakness that could cause price to breakout.
Remember: Italian elections Sunday March 3rd (week today) any news related to polls and what not could have an impact

Related Ideas

EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out