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Eurusdweekly

EURUSD approaching profit target, remain bullishBuy above 1.0600. Stop loss at 1.0562. Take profit at 1.0704. Reason for the trading strategy (technically): Price has started to bounce really nicely and is approaching our profit target. We remain bullish above 1.0600 support (Fibonacci retracement, horizontal swing low support, ascending support) for a further push up to 1.0704 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance). Stochastic (55,5,3) still has good upside potential for its corresponding rise. To read about the daily technical analysis strategies in more detail, you can check them out here : www.theforexarmy.com
Long
by theforexarmy
EURUSD Daily H&SThe EURUSD Head and Shoulders has been on Forex trend topics for long days. And the pattern is now formed and it's very clear and well designed. We just have to understand that the fact that the pattern could break higher the next few days doesn't mean that the EUR will have an easy life above 1.09 resistance zone, there is a lot of resistances up there. Actually the 1.09 is a major resistance zone and price could even go down again, so we have to be careful with the false break possibility. The market is chopped inside 1.05/1.15 areas since 2015 February, it's more than 2 years of consolidation (look at Weekly chart). Therefore, I'll be watching closely this nice H&S the next days, but even if we really break up I can see that we are having a difficult task to go until the top of weekly consolidation (1.1500 big number), a lot of volatility should be expected and that probably will stop out a lot of traders.
by doctrader
EURUSD turn bearish with break of our long term supportSell below 1.0711. Stop loss at 1.0758. Take profit at 1.0623. Reason for the trading strategy (technically): With the break of our long term ascending support-turned-resistance line, we turn bearish below 1.0711 resistance (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a drop to at least 1.0623 (Fibonacci retracement, recent swing low support). Stochastic (55,5,3) has made a bearish exit signalling a further drop is expected.
Short
by theforexarmy
Analysis and Forecast EUR / USD - Weekly overview (14.12-18.12)Ahead of us the most important week of the year due to a Fed that at the next meeting (15-16 December), has decided to commence a series of increases in interest rates and present to forecast further rises in 2016. Investors in particular will await a press conference, Janet Yellen, which will take place 30 minutes after the Fed meeting. At the moment, the chances of an interest rate hike in the US amounts to 79.4%, while the market expects another two hikes in 2016. Calendar for next week is as extremely interesting. In the first part of the week the markets attention will be paid to the reading of core inflation in the US. With Germany will flow information concerning the ZEW economic mood. In the middle of the week we will know the whole pack PMI for the euro zone. From the United States will flow data on building permits and PMI reading for the industry. In the second part of the week we will know the Ifo business sentiment index and the industrial index by the Fed in Philadelphia. The next and final reading associated with the pair EUR / USD will be reading the PMI for services in the US. The outlook for EUR / USD: Last week there was the establishment of a double peak at 1,1030-41, which from a technical point of view should support the supply side. In the first part of the week (the Fed), the eurodollar rate should head south toward support at 1.0930 and 1.09. If you happen to break the 1.09 level of supply will head towards support levels at levels 1,0795-1,0810. On Wednesday, investors will focus on the communication of the Fed meeting, which does not necessarily imply the fast pace of monetary policy tightening in 2016, which could disappoint markets. The Fed certainly will take into account external stimuli and the possible consequences, which may suggest that further rate hikes will be flat and elongated over time. Therefore, we may be witnessing strong growth. in the direction of the last maxima at 1,1030-41. Further demand could lead to wywindowania course around the resistance level of 1.1140 (peak of 23 October).
by RobertPapon