Pashabxl
Long

EURUSD: Towards a final upside?

FX:EURUSD   Euro / U.S. Dollar
In my previous analysis I have underlined that EUR would go on the upside to catch 1.375 for the last time before FED's and ECB intervention on the market.
FED will increase at certain point its interest rate, whereas ECB will spread a lot of cheap money in the market. Therefore, above 1.38 doesn't look sustainable for the market. However, FED will release some money in the market for the last time before the and of the QE3 or tappering, whereas ECB has just lowered its interest rate but didn't yet put into force its ABS/LTRO.
But i didn't take into account the timing, ie summer time where people sell EUR buy USD and there isn't a lot of volatility in the market.
On the big picture, we have a clear falling wedge formation and if we do observe the RSI , there is a clear bullish divergence , i.e if confirmed, there should be a break on the upside until 1.365 or 1.372. This may be very much the last hit on the upside before EUR come bellow 1.33 on a medium term basis.....
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out