Forex Analysis
Michael Becker
26 Mar 2015, 17:14 UTC+00
Full projection targets for the Flag pattern were successfully reached around 1.0800 and 1.0500. As anticipated, after such a long bearish rally (which started off 1.1300), bullish rejection existed around 1.0570 (monthly demond level). Since then, the EUR/USD pair has been moving towards 1.1140. Daily persistence above the price zone of 1.0850-1.0860 (recent demand zone) enhances a probability of a quick corrective movement towards 1.1100 where a long-term sell position can be offered.
Mourad El Keddani
26 Mar 2015, 17:12 UTC+00
Resistance of the EUR/USD pair was broken and it turned to support at the level of 1.0880 this week. The pair has already formed new strong support at the level of 1.0880. Moreover, after the pair has closed above this level today, it is signing the bullish market from 1.0880. Additionaly, the RSI has still called for uptrend at the level mentioned before. Consequently, the price of the EUR/USD pair indicates a bullish opportunity at the level of 1.0880 with the first target at 1.1041 in order to form a double top, and continues towards 1.1080 to test weekly resistance 1.
Joseph Wind
26 Mar 2015, 08:19 UTC+00
Bulls must try to close above 1.1045. Bears must try to close below 1.0768.
Arief Makmur
26 Mar 2015, 07:26 UTC+00
When the European market opens, economic data on Private Loans y/y, M3 Money Supply y/y, and GfK German Consumer Climate are expected to be released.The US will publish economic data about Natural Gas Storage, the flash services PMI, and the number of unemployment claims. So, EUR/USD will move low to medium volatility during this day amid the reports.
Michael Becker
25 Mar 2015, 19:34 UTC+00
Full projection targets for the Flag pattern were successfully reached around 1.0800 and 1.0500. As anticipated, after such a long bearish rally (which started off 1.1300), bullish rejection existed around 1.0570 (MONTHLY DEMAND level). DAILY persistence above the price zone 1.0850-1.0860 (recent DEMAND zone) indicates a quick corrective movement towards 1.1100 where a long-term SELL position will probably be offered.
Joseph Wind
25 Mar 2015, 08:11 UTC+00
Bulls must try to close above 1.1045. Bears must try to close below 1.0768.
Arief Makmur
25 Mar 2015, 07:35 UTC+00
When the European market opens, some economic data on German Ifo Business Climate are due for release. The US is expected to publish economic data about Crude Oil Inventories, Durable Goods Orders m/m, and Core Durable Goods Orders m/m/. Amid the reports, EUR/USD will move low to medium volatility during this day.
Michael Becker
24 Mar 2015, 20:32 UTC+00
Full projection targets for the Flag pattern were successfully reached around 1.0800 and 1.0500. As anticipated, after such a long bearish rally (which started off 1.1300), bullish rejection was expected to exist around 1.0570 (monthly demand level). DAILY persistence above the price zone 1.0850-1.0860 (recent DEMAND zone) indicates a quick corrective movement towards 1.1100 where a long-term sell position should be anticipated.
Mourad El Keddani
24 Mar 2015, 16:17 UTC+00
The price of the EUR/USD pair has been still moving between the ratio of 61.8% Fibonacci retracement levels (at the level of 1.0826) and 100% Fibonacci retracement (at the 1.1041 level). In particular, EUR/USD will be able to form a double top at the level of 1.1041. Consequently, it will be good to sell below the price of 1.1041 with the first target of 1.0900 to test a minor support on March 24, 2015. Additionally, if the trend can break the minor support at the price of 1.0900, it might resume to 1.0780 in order to test the weekly pivot point.
Joseph Wind
24 Mar 2015, 07:39 UTC+00
If the euro data turns out above expectations, we recommend buying above 1.0980 with targets at 1.1040 and 1.1090.
Arief Makmur
24 Mar 2015, 06:30 UTC+00
When the European market opens, economic data on the Belgian NBB Business Climate, Flash Services PMI, Flash Manufacturing PMI, German Flash Services PMI, German Flash Manufacturing PMI, French Flash Services PMI, and French Flash Manufacturing PMI is due for release. The US is expected to release data about Crude Oil Inventories, New Home Sales, Flash Manufacturing PMI, HPI m/m, Core CPI m/m, and CPI m/m. Amid the reports, the EUR/USD pair is likely to move low to medium volatility during this day.
Michael Becker
23 Mar 2015, 18:38 UTC+00
Obvious bearish breakdown of the weekly demand level at 1.1100 enhanced the bearish side of the market exposing lower targets initially around 1.0800. Full projection targets for the Flag pattern were successfully reached around 1.0800 and 1.0500. As anticipated, after such a long bearish rally (which started off 1.1300), sure signs of bullish rejection was anticipated around 1.0570 (monthly demand level). Note that daily persistence above the price zone of 1.0630-1.0660 (achieved yesterday) indicates a quick corrective movement towards 1.1100 where a long-term sell position can be offered.
Joseph Wind
23 Mar 2015, 07:59 UTC+00
Support is found at 1.0700 and resistance is set at 1.0920. We recommend fresh buying only above 1.0920 with targets at 1.1000 and 1.1035.
Arief Makmur
23 Mar 2015, 07:17 UTC+00
When the European market opens, the major economic news to be released is the Consumer Confidence Index. The US will publish the economic data too such as the Existing Home Sales.
Arief Makmur
20 Mar 2015, 07:57 UTC+00
When the European market opens, economic data on the EU Economic Summit, Current Account, German PPI m/m are due for release. The US will not release any economic data today. So amid the reports, EUR/USD will move in low volatility during this day.
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