Forex Analysis
Michael Becker
27 Apr 2015, 19:18 UTC+00
After such a long bearish rally (which started off 1.1300), bullish rejection was expressed at 1.0570 (monthly demand level). Last week, EUR/USD bears failed to defend their recent SUPPLY zone at 1.0750-1.0800. Instead, an ascending bottom was established near the same price levels. The nearest bullish target should be located at 1.0980 - 1.0995 (the upper limit of the current wedge-pattern) where a low-risk SELL entry can be offered.
Arief Makmur
27 Apr 2015, 06:43 UTC+00
When the European market opens, some economic data on German Import Prices m/m are due for release.The US will publish data on the Flash Services PMI. So, EUR/USD will move low to medium volatility during this day amid the reports.
Michael Becker
24 Apr 2015, 17:12 UTC+00
By the end of the last week, a bullish pullback towards 1.0750-1.0770 (neckline of the double-top pattern) took place. This week, EUR/USD bears failed to defend their recent supply zone between 1.0750-1.0800. Thus, invalidating the previously mentioned reversal pattern. The nearest bullish target should be located at 1.0950 - 1.0980 where the depicted reversal pattern was previously initiated.
Arief Makmur
24 Apr 2015, 07:12 UTC+00
When the European market opens, some economic data on the Belgian NBB Business Climate, Eurogroup Meetings, and German Ifo Business Climate are due for release.The US will publish economic data about the Durable Goods Orders m/m and Core Durable Goods Orders m/m. So amid the reports, EUR/USD will move low to medium volatility during this day.
Joseph Wind
24 Apr 2015, 04:33 UTC+00
We recommend intraday selling below 1.0790 with targets at 1.0750. Real selling will be driven below 1.0740.
Michael Becker
23 Apr 2015, 16:45 UTC+00
Daily persistence below the level of 1.0750 (neck-line) enhances the reversal pattern extending the projection target for the EUR/USD pair towards the level of 1.0330. By the end of the last week, a bullish pullback towards 1.0750-1.0770 (neckline of the double-top pattern) took place. Hence, a valid sell position can be offered at this price zone, as long as the EUR/USD pair keeps trading below the level of 1.0800 (our Stop/Loss).
Mourad El Keddani
23 Apr 2015, 14:29 UTC+00
The first key level of EUR/USD pair will set at the level of 1.0603 and the second key level will set at the 1.0725 level on April 23, 2015. Also, it should be noticed that the levels are coinciding with the support one and the the weekly pivot point respectively. Equally important, the price of EUR/USD pair has still been moving between the levels of 1.0687 and 1.0827. Additionally, it should be noted that the range will be about 140 pips from today until tomorrow. Furthermore, the trend has been very clear indicating upward direction since last week. As it is known, sellers are asking for a high price. Accordingly, we expect that the trend is going to call for bullish market from the levels of 1.0687/1.0700 in H4 chart.
Joseph Wind
23 Apr 2015, 08:36 UTC+00
The real panic will be triggered below 1.0660 with an immediate target at 1.0625 and 1.0600, 1.0585, and 1.0570 later.
Arief Makmur
23 Apr 2015, 06:25 UTC+00
When the European market opens, some
Michael Becker
22 Apr 2015, 19:59 UTC+00
Full projection targets of the Flag pattern were successfully reached at 1.0800 and 1.0500. After such a long bearish rally (which started off 1.1300) bullish rejection was expressed at 1.0570 (monthly demand level). Shortly after, the EUR/USD pair failed to keep pushing above the depicted uptrend line. Hence, a double-top reversal pattern was executed around 1.1030.
Joseph Wind
22 Apr 2015, 08:18 UTC+00
The hourly resistance is seen at 1.0756 and 1.0780. The intraday resistance is seen at 1.0770 20Dsma.
Arief Makmur
22 Apr 2015, 06:14 UTC+00
When the European market opens, some economic data on Consumer Confidence and Italian Retail Sales m/m. The US will release economic data on Crude Oil Inventories, Existing Home Sales, and HPI m/m. So, EUR/USD will move low to medium volatility during this day.
Michael Becker
21 Apr 2015, 16:23 UTC+00
After such a long bearish rally (which started off 1.1300), bullish rejection was expressed at 1.0570 (monthly demand level). Shortly after, the EUR/USD pair failed to keep pushing above the depicted uptrend line. Hence, a double-top reversal pattern was executed around 1.1030. Daily persistence below the level of 1.0750 (neck-line) confirmed the reversal pattern, thus extending the projection target for the EUR/USD pair towards the level of 1.0330.
Joseph Wind
21 Apr 2015, 06:43 UTC+00
The intraday strategy is likely to favor bears with sl 1.0770 and targets at 1.0700, 1.0680 1.0650, and 1.0625.
Arief Makmur
21 Apr 2015, 06:30 UTC+00
When the European market opens, economic data on ZEW Economic Sentiment and German ZEW Economic Sentiment are due for release. But the US market is not expected to release any data. So, amid the reports, EUR/USD will move low to medium volatility during this day.
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