FX_IDC:EURUSD   Euro / U.S. Dollar
3488 17 87
It doesn't make much sense to analyze the monthly context, it still lacks a week at the closing candle, but we wanted you to notice the "corrective structure" in play: If you look at the impulsive leg "BC" (yellow-green), formed between 2013 and 2014, we can see that the ABC corrective structure (blue), has developed a bearish impulsive swing till 1.0425. In the second half of the year we can expect an additional ABC corrective swing with potential target around 1.18/1.22. Most likely the FED will raise interest rates in 2016 and this could support a continuation of a technical rebound on eurusd             . Friday, the pair has reached the key support at 1.09, if it will maintain this area, we can expect a rebound, instead we will see a re-test of the lows.

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What's your view on the longer term trend channel if you consider IDC data since ERM? I see bullish divergence on Month chart and bottoming € in the overall bullish channel. This is a time frame that is bigger than my life experience, so I'm not comfortable putting my money on it, especially when nearly everyone is bearish on EU. I think it's possible that we'll see below parity exchange rates, but I think it's not probable that the long term trend is broken. IMHO 1,70 doesn't seem so utopian in a few years, especially when considering the fact that bullish moves on EU were very fast with strong trend compared to choppier bear moves of the pair. That's why I chose Heikin Ashi candles, to show this.
Maybe Brexit will play it's role... We'll see. Just wondering what your opinion on this time frame is.
I think we'll see a sharp move to 1.178 by mid Aug, then the log awaited drive to parity and below.
+1 Reply
...same idea!!!! :) but we need some confirm.... :)
FXKOPPA SignalSwiss
I think 11230 break is bullish sign
+1 Reply
https://gyazo.com/0f1ca7e79f2b9b2fbdd39a0fea22aa8a ,
,618 fibo level after brexit , I beleive 11230 is fair price if it break for bull
+1 Reply
this is better view
should it close above 1.114 ? rgds
Hi....whats the close level that one should watchout for ? rgds
+1 Reply
Hi! ...wait our next updates/analysis....
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