EUR/USD Technical analysis

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Permalink Reply by Anne on December 3, 2008 at 2:01pm

EUR/USD intraday: continuation of the rebound.
Pivot: 1.265
Our preference: Long positions above 1.265 with targets @ 1.276 & 1.2805 in extension.
Alternative scenario: Below 1.265 look for further downside with 1.2565 & 1.2515 as targets.
Comments: The pair has broken above an intraday bearish channel upper boundary.

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Permalink Reply by princess Todd on December 8, 2008 at 9:57am

Thanks for the update my friend....

But this pair was on Friday Euro/Dollar attempted to decrease, reaching bottom at 1.2640, but further bearish scenario was rejected and the currency pair sharply rose to the top 1.2739, and closed at 1.2713. The longer the couple remains under 1.2850, the longer the descending scenario will be maintained. On the four hour chart we can see that the Euro is trading around the line of resistance of the decreasing trend and the CCI indicator is in the oversold zone pointing downwards, suggesting potential downwards pressure. First support is 1.2655. Break down of that level could lead to further bearish momentum.

Technical resistance levels: 1.2850 1.2985 1.3070
Technical support levels: 1.2655 1.2550 1.2460

Trading range: 1.2775 - 1.2840

Trend: Upward

Buy at 1.2787 SL 1.2757 TP 1.2827

Watch for other currencies pairs: http://www.finexo.com/marketReview

Regards

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Permalink Reply by Anne on March 27, 2009 at 3:17pm

upside stops in-range likely cleared in size above the 1.3620 area yesterday but offers cap ahead of larger stops said to be over the weekly highs. If the rate can close above 1.3650/60 area more upside is likely.

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Permalink Reply by princess Todd on April 9, 2009 at 12:06pm

The US Dollar rose sharply on Monday as investor sentiment towards an economic recovery turned negative. As stock markets fell, investors took their money and fled back to the safe-haven, greenback. Things turned around quickly on hopes of an economic recovery after billionaire investor George Soros was quoted as saying that the "banking system as a whole is basically insolvent" which echoed the feelings of many analysts who question the use of government funds to sustain dying companies. Mr. Soros also said that the US economy in particular was in for a "long lasting slowdown" and was pessimistic over the potential for a turnaround this year and perhaps not even next.

Read more at: http://www.finexo.com/marketReview

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Permalink Reply by Anne on May 5, 2009 at 3:23pm

From the high of 1.3438 it is expected to slide today to 1.3223 during European session and then rise again during US session to 1.34 area.Wide range swings are to prevail till mid week.Quick drops below low 1.3331 are buy opportunities to book profit during quick rise.

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Permalink Reply by princess Todd on May 11, 2009 at 1:51pm

The Euro rallied on Friday one day after European Central Bank chairman Jen-Claude Trichet announced a credit purchase plan to help boost lending in the Eurozone. The plan would give banks security through the purchase of bonds covered by a pool of assets held by the banks. This would free-up money for lending that the banks were holding onto in order to cover those assets in case they went sour. The plan was met with optimism that the ECB was not spending money unwisely and blindly dumping cash into local projects that were meant to “stimulate”. Instead, the plan seems geared specifically towards banks and places the onus of lending to local businesses on the shoulders of those banks – while bank reserves will be covered or protected by the ECB.

At the close of daily fx markets, the Euro was up 1.83% to the US Dollar to 1.3633.

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Permalink Reply by princess Todd on June 2, 2009 at 2:45pm

The European Union unveiled a plan to shore up their financial markets in the wake of the credit and financial crisis that has plagued the Eurozone and the world. The plan will tighten the control that the EU had on the markets and is intended to prevent the scenario in which governments will be forced to “bailout” banks that have been caught up in bad investments. The Euro gained on Friday as a result of this and also benefitted from the flight from the Dollar as well.

At the close on Friday in the daily FX market, the Euro was up 1.54% to the Dollar to 1.4158 after hitting a 6 month high of 1.4168 about an hour before the close.

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Permalink Reply by Robt Perkins on June 2, 2009 at 5:28pm

There are bigger plans involved in the banking system. To see who is in power, read this:
http://www.marketoracle.co.uk/Article10903.html
Things haven't changed much in 300 years! But hopefully we can trade our primary currencies a bit longer before Mr. Geithner and his real bosses whittle them down to three, then just one currency! This is a rough week for chart readers, but it is a lesson, if in nothing more than patience! I look for 5 up and 3 down-all charting is really ElliotWave, no matter how you slice it.

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Permalink Reply by princess Todd on June 13, 2009 at 10:20am

Here is my forex broker review of EUR/USD: The surge in the EUR/USD over the last couple of days turned around from the 0.618 Fibonacci retracement from the 1.4338 top to the 1.3805 low coming in around 1.4135. That level and the 0.764 Fibonacci at 1.4212 are the final levels barring the way to the top. To the downside, we have yet to close below the 21-day moving average (blue line) and the big structural levels are the "neckline" like area around 1.3800 and then the very important support/old resistance at 1.3723.

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