The outlook for EUR / USD pair on a Tuesday:
On Tuesday, the economic calendar is empty, which should allow the demand side to catch your breath. In this case, the demand should lead to the elimination of part of the recent declines. The purpose of the demand should be resistance at 1,1243-47 (peaks in the first half of September and the 23.6% fibo recent decline...
The most important event of last week was the Fed's two-day meeting at which it was kept interest rates unchanged. It just was not a surprise but I strongly dovish statement could surprise. Members of the Fed seeing the turmoil surrounding the Chinese economy remained very cautious and almost unanimously spoke in favor of keeping the current interest rate....
FX:EURUSD
1st - Major AB=CD basic pattern:
Target: the Monthly and Weekly Support (MN1/W1);
2nd - Bullish Cypher Advanced Pattern: (Point C forged)
Target: Eventually the Resistance D1 (or close) When Completed*
3th - Bullish Gartley Advanced Pattern:
Target: Above Resistance D1 for an eventua double top or the Resistance MN1;
4th - None of this options, sell...
Last week, the euro strengthened against the dollar by 1.62%. In the first part of the week the currency pair moved sideways, which was caused by the absence of significant macroeconomic data. On Thursday and Friday we met weaker readings from the US, which supported the euro. The demand has led to pierce key resistance and has driven the course to the level of...
Tuesday's session was marked by the continued trend of building side, which of course was the result of non-essential macroeconomic data. On Tuesday Although we know better data on German trade balance and GDP for the euro zone, but the readings did not translate into greater volatility in the EUR / USD pair. The demand has led in the morning to break the 1.1179...
In the first part of the week, we have seen increases, which were caused by good readings from Germany and the euro zone. The strong support for the euro was also weak readings from the US. The EUR / USD made a high of 1.1333. Then, the common currency began to lose in anticipation of Thursday's Mario Draghigo conference after the ECB meeting. As expected, the ECB...
Key:
Green: Monthly Tend Lines. Thick Lines Outer Trend, Thin Inner Trend. (set on monthly resolution)
Purple and green lines are possible outcomes. (120 resolution)
Blue lines are points of possible trend changes.
Currently seeking the buy and sell signal as price action approaches the blue line which to me states a good entry point into a short/long...
The first part of the week was marked correction of recent declines that took place last week. On Tuesday, there was a failed attack on the resistance level of 1.1368. Demand reached only to the level of 1.1333 and then the supply has led to declines. The weakness in demand we have seen also during Wednesday's session, when the EUR / USD retreated despite weaker...
