The euro currency is trading just below the 1.1200 level against the US dollar, following a strong rebound from the 1.1160 level on Monday. Frustratingly, the trading action for the EURUSD pair is still centered around the triangle pattern on the four-hour time frame. Overall, bulls need to break above the 1.1225 level intraday to secure yet another technical test...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=117.75. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=118.55. TP4: R2=118.8. Set the stoploss of these orders at breakout of S2=117.5. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
Midterm forecast: While the price is above the support 1.1000, beginning of uptrend is expected. We make sure when the resistance at 1.1450 breaks. If the support at 1.1000 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI downtrend #1...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.1155. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.1195. TP4: R2=1.121. Set the stoploss of these orders at breakout of S2=1.114. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The euro continues to hold around the 1.1200 level against the US dollar as traders await a much-needed breakout in the US dollar index this week. The 1.1160 level is the key support level to watch and the gateway to further losses towards the 1.1135 level. Bulls also have an interesting set-up this week, with gains above the 1.1250 likely to prompt a key...
The euro is once again attempting to gain traction above the 1.1200 level against the US dollar, following another impressive recovery from the 1.1180 level. Buyers need to negate the double-top pattern formation to secure the next bullish rally towards the 1.1290 region. The EURUSD pair is also becoming increasingly sensitive to calls from US President Donald...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.116. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.122. TP4: R2=1.125. Set the stoploss of these orders at breakout of S2=1.1135. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The euro is appearing increasingly bullish against the US dollar in the short-term, with the pair becoming bought up sharply on any technical pullbacks. If EURUSD bulls can stabilize price above the bearish double-top pattern, the pair could launch an attack towards huge weekly resistance, at 1.1290. Only a sustained move below the 1.1187 level can dampen the...
Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (1.6688). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . EURAUD is in a range bound and the beginning of downtrend is expected. . The price is above the 21-Day WEMA which acts as a...
The euro currency is becoming increasingly bullish against the US dollar in the short-term, as the pair continues to hold price above key technical support. EURUSD dip-buying is now preference as bulls attempt to force price above the 1.1238 resistance barrier. Overall, the EURUSD pair is only technically bearish on an intraday basis while trading below the 1.1187...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.114. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.119. TP4: R2=1.1205. Set the stoploss of these orders at breakout of S2=1.113. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
The euro is trading around the 1.1130 level against the US dollar, after a fairly solid former weekly price close back above the 1.1100 support level. Traders may need more technical confirmation that a meaningful bottom is in place before turning fully short-term bullish on the EURUSD. Overall, EURUSD traders should be on guard for a bullish double-bottom pattern...
The euro has fallen below the 1.1100 level against the US dollar, marking a bearish monthly price close beneath the bottom of its yearly price range. The EURUSD pair could eventually target towards the 1.0900 level now the range is breached. Key downside target to watch in the interim for the EURUSD pair is located at the 1.1000 and 1.0980 support levels. The...
The euro remains technically weak against the US dollar, further placing the pair in a vulnerable position going into the FOMC interest rate decision later today. Bulls inability to break the 1.1160 resistance level is placing the emphasis back towards more EURUSD downside. Only a sustained move above the 1.1187 resistance level can put the pair on more certain...
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.6815). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . EUR/NZD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support....
The euro is continuing to move higher against the US dollar after sellers failed to move price below the key 1.1100 support level. EURUSD bulls need to move price above the 1.1187 level to encourage further buying towards the 1.1215 resistance level. Overall, bearish momentum will start to grow if bulls fail to overcome interim resistance around EURUSD pairs...
The euro has started the new trading week slightly firmer against the US dollar as bulls continue to defend the current yearly trading low. If bulls continue to defend the 1.1100 support level the EURUSD pair could eventually reverse back towards the 1.1215 area. A move under the 1.1100 level should see the EURUSD pair performing a bearish breakout towards the...
The euro is starting to probe the middle of its three-day trading range against the US dollar as financial markets remain unimpressed with the lack of action from the ECB on Thursday. The risk is now to the upside for the EURUSD pair, with a further short squeeze towards at least the 1.1210 level still possible. US GDP later today is likely to prompt the next...