Razvan

EURUSD - Has a story to tell

FX:EURUSD   Euro / U.S. Dollar
3848 14 9
Do not underestimate the power of price patterns, support/resistance , and Fibonacci. What others may consider old and useless, a quick look over the EURUSD             price action would contradict them. From November to present time we can see that the wedges worked beautiful, before the end of 2012 the rectangle was the king, and afterwards the triangle took its place. The support and resistance zone worked fantastic and we can see that 1.2875, 1.3, 1.3150 and 1.34 are the stars of the show. This zones combined with 50% retrace (the big love of euro             dollar, from my point of view) but also the Fibo levels 61.8 and 38.2 worked together like a Swiss watch.
As a conclusion we might expect a consolidation between 1.34 and 1.3260. If the rise will continue over 1.34 than 1.3450 will be the next target. Good news from USA today (Building Permits, Unemployment claims and Philly Fed) might trigger some appetite for risk and sustain the euro             appreciation.
Dear Razvan, could you update this chart ?, I like to learn more , I adopted this method and It works like charm :-)
Reply
dedenfd dedenfd
Dear Razvan, this is my chart, I still have problem spotting the pattern..

http://primuspersada.com/images/melukis-suka2-2.png
Reply
another beautiful chart, never fail to maze me , thank you Razvan for your helpful chart
Reply
Razvan dedenfd
You are welcome. Thank you for your nice comment dedenfd. :)
Reply
Well, it has consolidate and now is heading for 1.3450, good fella this EURUSD - IFO over estimates 104.2, pushing it to the target
Reply
let's see, range or double top? what do you think, i believe that UoM Consumer index might tell us more today...
Reply
With lower gasoline prices. Consumer confidence will be positive. However, I expect gasoline to move much higher and very soon.
Reply
Razvan QuantitativeExhaustion
This will conduct to a divergence with the yesterday Manufacturing Index. Now a better index would help the dollar and we could see a double top formation (plausible), or we will have a risk appetite and the range will continue. The economic data that came today from EU was not that good.
Reply
Possible range.. I agree. Shorts are taking note of the similar patterns of the months leading to 2011 debt ceiling impasse and today's 2013 debt ceiling impasse. We may peak just days before the hard deadline date of the the Treasury debt ceiling solutions are exhausted
Reply
Spain's industrial orders -4% y/y, eurusd rejected from 1.3398, keeping it in the 1.3260 - 1.34 range
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
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