Eurusd is in consolidation between support @1.08 and resistance @1.114.
This week we recommend opening buy order @1.08 only on the way up.
Under 1.075 we could see a continue bearish movement to 1.065.
Remember all direction need confirmation before opening
We have exited our longs and are now short.
We are seeing a head and shoulders top already in, or a double top coming (one more stop run is possible!)
Looking to target just below: 1.1400
Enjoy!
PAIR CURRENCY: EURUSD DIRECTION: UPTREND EURUSD is predicted to go up in the next few days. All indicators are suggesting it, and the 1day candles show a strong uptrend.
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EUR/USD climbs to 1.1940 and ready to move forwards
Even though the Euro climbed more sharply than expected amid the news that Angela Merkel agreed to form large coalition with the Social Democrats, the movement remained in line with general expectations. As long as the pair stays within the medium-term ascending channel that is backed up by the rising 55-, 100-...
EUR/USD falls as Merkel fails to form coalition
As the currency pair did not have any fundamental background that could justify a rapid move, it finished the week near the 55-hour SMA. However, in early hours of the new trading session it broke though combined support set up by the 38.2% Fibonacci retracement level and the weekly PP and approached the bottom...
EUR/USD starts new week near 1.1660
Despite a positive perception of ideas expressed by the US President Donald Trump at the ASEAN summit the Dollar is continuing to lose value against the Euro in a one-week long ascending channel. Although the pattern is supported by the rising 55-, 100- and 200-hour SMAs, the upcoming rebound from the 23.6% Fibonacci...
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In line with expectations, the currency exchange rate continued to move in southern direction under pressure from the 55-hour SMA. A short dip below the weekly S1 located at the 1.1573 level as well as the subsequent recovery signified two confirmation points, thus confirming existence of a fully-fledged junior...
EUR/USD falls to 1.16 amid surprising US data
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Due to anticipation of the ECB meeting as well as referendum on extension of autonomy in Lombardy and Veneto regions the common European currency slipped against the Dollar to the 1.7520 mark. As the northern side is protected by a combination of the 100-hour SMA and the weekly PP plus the 55- and 200-hour SMAs, the...
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In result of a decrease of the American unemployment rate, traders tried to push the pair through the bottom trend-line of a large falling wedge pattern. However, it made a rebound and in the early Monday morning left the formation in the northern direction.
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Although initially markets were positively anticipating the upcoming Draghi speech at Trinity College, but the subsequent reaction led to quite rapid recovery of the Dollar on Friday.
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As it was expected, a pressure from a combination of the 55-, 100- and 200-hour SMAs neutralized any further attempts of the currency pair to slip to the bottom. The exchange rate even managed to from a junior ascending channel and bypass the weekly PP at 1.1918, fluctuating within it.
Today will be...
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