Currency Technical Report

Euro rose yesterday towards 1.4530-40, forming new highs for this year. These levels were slightly higher from our targets, regarding the triangle formation scenario. Technically, euro has tested the ranges of the triangle formation as you can see in the daily chart, but the upper part of the short… Read more….

Currency Technical Report

Euro closed negative yesterday as resistance at 1,4000 could not be breached. These levels are likely to be reached again as the days starts with a rise, while next important resistance emerges at 1,4030-50, where the trend line is found in the daily chart. A break of these levels will… Read more….

Currency Technical Report

Euro rose yesterday reaching the higher resistance level we had set on our yesterday’s analysis (1,3940-60) and then declined again towards 1,3800. Even though the trend remains bearish, the price didn’t move below 1,3800 in order to confirm the tops formation. This means that all scenarios are open… Read more….

Currency Technical Report

The week starts negative for euro, and support at 1,3900 is being breached at the time of the writing. We do not have much to add to our previous analysis. Our higher targets according to our basic scenario (1,4340) for the midterm were achieved and the reversal candle formation in… Read more….

Currency Technical Report

Comment: Euro rose yesterday reaching previous tops at 1,4130-50, but the day closed below them. The trend remains bullish as long as support at 1,3800-30 is confirmed..Today begins negative for euro and first support at 1,4050-60 (hourly chart) should be tested. A possible break would lead to 1,3940-50 area, where… Read more….

Currency Technical Report

Resistance levels that we had indicated in our yesterday’s analysis were confirmed along with our basic targets at 1,4000 – 1,3930. The upward reaction from 1,3920-30 lows, has already reached 1,4050-60 area, where 61.8% of yesterday’s decline is completed. We would be more comfortable regarding our downward scenario, if the… Read more….

Currency Technical Report

Our targets were achieved and the expected reaction from 1,1810-30 area, seems to be corrective. Previous lows at 1,3800-10 are likely to be reached again, while a downward break and daily close below 1,3800 would have the area of 1,3730-40, 1,3570-80 and 1,3430-60 as next target. To the upside, first… Read more….

Currency Technical Report

Classic reversal candle above the important technical resistance and the divergence in the oscillators, are usually a good start for a downward move and would fit perfectly our sideways formation scenario. However, the trend reversal will be confirmed after a break of important support levels and the formation of new… Read more….

Currency Technical Report

According to the basic scenario that we have developed in the last months, the area of 1,4350-00 was a possible target (the higher) in terms of the wider sideways formation since the decline last Fall. Euro has reached these levels and oscillators in all charts are in an overbought area,… Read more….

Currency Technical Report

The reach of 1,4000-50 could not lead to a sharp decline and the move was limited to our first targets at 1,3800-30. The rise above 1,4050 area on Friday has now turned our focus to our next targets at 1,4250-80 and 1,4350-0, which is the upper range regarding the triangle… Read more….

Currency Technical Report

Good news from the US economy (rise in consumer confidence) were negative for the dollar. Euro’s decline was limited at 1,3860, slightly above our first targets at 1,3820-40, and then the rise was resumed sharply led by the rise in stock markets after the announcement. Euro could not breach the… Read more….

Currency Technical Report

Today starts negative for euro after yesterday’s bank holiday and first important support levels at 1.3950-70 are breached. There is not much to add to our previous analysis regarding the rise resumption, as we have already presented our longer term scenario. A possible reversal candle formation in the daily chart… Read more….

Currency Technical Report

Euro moved above 1,4050 in the end of last week. Our targets at 1,3900-40 were breached and Friday’s highs reached the ranges we had set regarding our downward scenario. A move to new tops will have the area of 1,4150-00 as next target, where both waves from February lows will… Read more….

Currency Technical Report

Euro is forming new tops, testing our targets at 1,3940. The upward channel that sets the uptrend from April lows (daily and 4 hour chart) allows a rise resumption towards 1,3980-00, levels where bears are likely to gain momentum. A reversal candle formation at these levels will give the confirmation…. Read more….

Daily Technical Strategist

USDJPY: Although the pair traded lower Tuesday, its looks to build on its corrective recovery triggered at the 94.55 level on Monday. With USDJPY now holding above the 95.62 level, its April 28’09 low, further upside is expected towards the 99.73 level, its May 07’09 high and then the 101.43… Read more….

Currency Technical Report

Negative news from US are good for the dollar. Yesterday’s rise was limited at the second resistance level, we had set, at 1,3660-70. The retracement from these levels is still in tight ranges. Intraday support is found at 1,3580 and 1,3530-40, which is the most important. A move below the… Read more….

Daily Technical Strategist

Our call for short term uptrend continuation continues to play as out as EUR closed higher Tuesday and was seen heading higher in early morning trading today. This price development now leaves the 1.3720/38 level, Mar 04’09/May 13’09 highs being targeted with a loss of there activating its short term… Read more….

Currency Majors Technical Perspective

EUR/USD Current price: 1.3511 Risk swings are dominating the pair that quickly regained the upside. Now fighting the 200 EMA in the hourly, indicators lost steam at the time yet a new candle opening above the mentioned EMA now at 1.3507, will open doors for further upside in the pair. 20 SMA far under actual [...]

Daily Technical Strategist

Although its first week of weakness registered the past week following its rise off the 1.2886 level remains suggestive of further declines, EUR still retains its short term uptrend activated off the 1.2456 level, its Mar 04’09 high. With that said a follow through lower could be seen targeting the… Read more….

Currency Majors Technical Analysis

American Session EUR/USD – Euro Dollar 1,3518. EUR USD broke 1,3540 support. The volatility rises. Bollinger bands are deviated. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a support above 1,3515 (3 pips). If the support breaks then [...]

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