EUR/USD Technical View

Euro lost some points in Monday’s trading session but has been recovering some of them early today, the pair is trading very close to where it closed last Friday just over the 1.3800 level. With the situation at hand we can’t but just reiterate what we said in our previous commentary that the upside momentum seems to have slowed down a bit, but this is to be expected after a strong rally. For the following days we expect a break above Friday’s high at 1.3845, if price does break the above mentioned resistance the next bullish target might be the 1.3900 round number and on a longer term the 1.4000. Conversely a failure of making new highs will keep price in a consolidation period with possible signs of increased downside pressure, with that in mind bellow 1.3800 closest support level we can spot is the 1.3750 round number which if breached will give us a sign that a bigger move south might happen; lower down we have a previous resistance area now turned into strong support at 1.3660/80, this is the main mid-term bearish target.

Resistance Levels

• 1.3830 – July 18th High
• 1.3750 – round number

Support Levels

• 1.3680 – April 27th High
• 1.3550 – June 5th High
• 1.3459 – May 10th/11th Low

• 1.3365 – December 3rd High

(more…)

EUR/USD Technical View

Euro managed to form a 6th consecutive green candle on the weekly charts, making a new high at 1.3845. The week started a bit undecided but the pair slowly kept making new highs, we saw an outside bar on Wednesday followed by an inside bar on Thursday only to break above them in Friday’s session. Overall the upside momentum seems to have slowed down a bit, but this is to be expected after a strong rally. For the following days we expect a break above Friday’s high at 1.3845, if price does break the above mentioned resistance the next bullish target might be the 1.3900 round number and on a longer term the 1.4000. Conversely a failure of making new highs will keep price in a consolidation period with possible signs of increased downside pressure, with that in mind bellow 1.3800 closest support level we can spot is the 1.3750 round number which if breached will give us a sign that a bigger move south might happen; lower down we have a previous resistance area now turned into strong support at 1.3660/80, this is the main mid-term bearish target.

Resistance Levels

• 1.3830 – July 18th High
• 1.3750 – round number

Support Levels

• 1.3680 – April 27th High
• 1.3550 – June 5th High
• 1.3459 – May 10th/11th Low
• 1.3365 – December 3rd High (more…)
  

EUR/USD Technical View

After the outside bar formed on Wednesday we had an inside bar yesterday and at the moment the price appears to break the low of this inside bar at 1.3788. We are in the very same situation as the day before so we maintain our view about future price development in respect to the support and resistance levels. Until we see a break above 1.3810/30 one can’t be sure about the trend continuation, if price does break the above mentioned resistance the next bullish target might be the 1.3900 round number and on a longer term the 1.4000. Conversely a failure of breaking new highs in the following days will start to put downside pressure on the pair as bears will open up new trades, with that in mind bellow 1.3800 closest support level we can spot is the 1.3750 round number which if breached will give us a sign that a bigger move south might happen; lower down we have a previous resistance area now turned into strong support at 1.3660/80, this is the main mid-term bearish target, and if the pair gets that low it will put up a fight, if Euro doesn’t find any decent support at 1.3660/80 it will more than likely sink towards the 1.3550/60 which is another significant support area.


Resistance Levels

• 1.3830 – July 18th High
• 1.3750 – round number

Support Levels

• 1.3680 – April 27th High
• 1.3550 – June 5th High
• 1.3459 – May 10th/11th Low
• 1.3365 – December 3rd High

(more…)

EUR/USD Technical View

Euro formed an outside bar yesterday, making a lower low at 1.3750 and a new high at 1.3830, overall the bulls had a little bit more strength as the close was slightly higher than the open. Although we made a new high the pair is still in a consolidation period and until we see a break above 1.3810/30 one can’t be sure about the trend continuation, if price does break the above mentioned resistance the next bullish target might be the 1.3900 round number and on a longer term the 1.4000. Conversely a failure of breaking new highs in the following days will start to put downside pressure on the pair as bears will open up new trades, with that in mind bellow 1.3800 closest support level we can spot is the 1.3750 round number which if breached will give us a sign that a bigger move south might happen; lower down we have a previous resistance area now turned into strong support at 1.3660/80, this is the main mid-term bearish target, and if the pair gets that low it will put up a fight, if Euro doesn’t find any decent support at 1.3660/80 it will more than likely sink towards the 1.3550/60 which is another significant support area.

Resistance Levels

* 1.3830 – July 18th High
* 1.3750 – round number

Support Levels

* 1.3680 – April 27th High
* 1.3550 – June 5th High
* 1.3459 – May 10th/11th Low
* 1.3365 – December 3rd High

(more…)

EUR/USD Technical View

The pair managed to get above 1.3800 early Today in the Asian session but has retraced andas we can see in the chart bellow is trading around 1.3780 area. We seem to have entered into a consolidation zone with the lower margin at 1.3750 and the high around 1.3800, in most cases the consolidation in a strong trend is a sign that the trend will continue, if that will be the case here, we have to break and stay above the 1.3800/30 resistance area otherwise bears might start reconsidering their situation and open up new short that will put downside pressure on the pair. As far as support goes we will have to reiterate out previous commentary that if price fails to breach above 1.3800 will force us to look for support levels, closest support level we can spot is the 1.3750 round number which if breached will give us a sign that a bigger move south might happen; lower down we have a previous resistance area now turned into strong support at 1.3660/80, this is the main mid-term bearish target, and if the pair gets that low it will put up a fight, if Euro doesn’t find any decent support at 1.3660/80 it will more than likely sink towards the 1.3550/60 which is another significant support area.

Resistance Levels

• 1.3810 – July 13th High
• 1.3750 – round number

Support Levels

• 1.3680 – April 27th High
• 1.3550 – June 5th High
• 1.3459 – May 10th/11th Low (more…)
  

EUR/USD Technical View

Yesterday we saw an undecided day on EurUsd, the daily candlestick is a doji, basically after a failed push at 1.3800 the pair closed the day where it opened, today on the other hand the pair started again to get close to 1.3800, and considering the general market sentiment this time it could be a successful attempt. The pair still needs to break above the 1.3800/10 resistance area in order that the long trend to resume, above that we will be trading at record highs without any real resistance levels ahead. Conversely a failure to breach above 1.3800 will force us to look for support levels, closest support level we can spot is the 1.3750 round number which if breached will give us a sign that a bigger move south might happen; lower down we have a previous resistance area now turned into strong support at 1.3660/80, this is the main mid-term bearish target, and if the pair gets that low it will put up a fight, if Euro doesn’t find any decent support at 1.3660/80 it will more than likely sink towards the 1.3550/60 which is another significant support area.

Resistance Levels

• 1.3810 – July 13th High
• 1.3750 – round number

Support Levels

• 1.3680 – April 27th High
• 1.3550 – June 5th High
• 1.3459 – May 10th/11th Low
• 1.3365 – December 3rd High

(more…)

EUR/USD Technical View

Last week we marked a 5th consecutive green week on the EurUsd, a straight move up in excess of 550 points. As far as the price action developed, we had a slow start on Monday followed by a very strong push north on Tuesday fueled both by technical and fundamental reasons, and the move continued for the rest of the week but with weaker momentum. The high of the week was established on Friday July 13th at 1.3810 but the pair didn’t have enough energy to close above 1.3800. Resistance wise, for a future move up, we have the above mentioned 1.3800/10 area once that gets broken we will be, again, trading at record highs. We do have to mention possible support levels as the pair might start to retrace after such a move, closest support level we can spot is the 1.3750 round number which if breached will give us a sign that a bigger move south might happen; lower down we have a previous resistance area now turned into strong support at 1.3660/80, this is the main mid-term bearish target, and if the pair gets that low it will put up a fight, if Euro doesn’t find any decent support at 1.3660/80 it will more than likely sink towards the 1.3550/60 which is another significant support area. Overall the bias is still bullish but there are signs in the market that the $ might be in for a reversal so we will have to analyze everything very carefully and act accordingly.

Resistance Levels

• 1.3810 – July 13th High
• 1.3750 – round number

Support Levels

• 1.3680 – April 27th High
• 1.3550 – June 5th High
• 1.3459 – May 10th/11th Low
• 1.3365 – December 3rd High

(more…)

EUR/USD Technical View

Euro made a new high yesterday at 1.3800, but it didn’t have enough strength to get over it so we are currently trading a few points bellow that. With such a clean move the situation is very clear and we can’t say that much about it, the uptrend is still going strong and the closest resistance is the 1.3800 round number, once the pair gets above it we will have to analyze price action to see if we have any signals of a slowdown. As far as support goes closest one is the 1.3660/80 area, followed lower down by the 1.3550/60, both support zones have already proven themselves as important ones price bouncing from them a few times in the last months. Personally i do like to look after symmetry pattern in price, so if we analyze euro from that perspective we can spot 3 waves of equal lengths formed from the start of the uptrend, from June 13th until now we can see 3 roughly 100 points waves that have formed the bulk of the up move; that is not meaning that the move is going to finish but we will certainly pay closer attention to price action at current levels.

Resistance Levels

• 1.3800 – round number
• 1.3782 – July 10 High

Support Levels

• 1.3680 – April 27th High
• 1.3550 – June 5th High
• 1.3459 – May 10th/11th Low
• 1.3365 – December 3rd High
• (more…)
  

EUR/USD Technical View


Euro slowed down a bit yesterday forming a doji candle on the daily charts but seems to have found new strengths this morning and is trading just above Tuesday’s high at 1.3782. The uptrend, as clearly seen on the chart bellow, is very much in place and by the way things look the pair is heading towards the 1.3800 round number which is the closest resistance level we can see. Until something happens to disrupt the long move one has to resist the temptation to open a short trade, but we will mention some support levels just in case. Closest we have the above mentioned 1.3660/80 area, followed lower down by the 1.3550/60, both support zones have already proven themselves as important ones price bouncing from them a few times in the last months.

Resistance Levels

• 1.3800 – round number
• 1.3782 – July 10 High

Support Levels

• 1.3680 – April 27th High
• 1.3550 – June 5th High
• 1.3459 – May 10th/11th Low
• 1.3365 – December 3rd High

(more…)

EUR/USD Technical View

Euro smashed any king of resistance that was in place in yesterday’s session and made a new high at 1.3782, the increased momentum was noticed on most USD pairs and the Euro didn’t stayed out. With an almost 200 points day, Tuesday’s move was the largest we have seen on this pair in a long time. Breaking above the 1.3660/80 resistance area, now turned into support, has given the pair enormous upside momentum, and this along side the general weakness witnessed in the US dollar have set the stage for the huge gain. As far as future resistance goes we have to mention yesterday’s high at 1.3782 as the level to break for a continuation, other than that there no other level to be aware of excepting round numbers. We will mention some support levels just in case the pair will start to retrace, closest we have the above mentioned 1.3660/80 area, followed lower down by the 1.3550/60, both support zones have already proven themselves as important ones price bouncing from them a few times in the last months.

Resistance Levels

* 1.3800 – round number
* 1.3782 – July 10 High

Support Levels

* 1.3680 – April 27th High
* 1.3550 – June 5th High
* 1.3459 – May 10th/11th Low
* 1.3365 – December 3rd High

(more…)