Technician
Short

EURUSD: ADIOS??

FX:EURUSD   Euro Fx/U.S. Dollar
5941 28 70

In my view, the chances that the EURUSD             has finally topped over the medium to long term are high. Lets assess whats going on,

-The weekly chart suggests multiple bearish breakout
- Bearish breakout and completion of a long term head and shoulders top pattern
- Bearish breakout and completion of a rising wedge bearish pattern
-Bearish breakout and stability below the a cluster of key long term moving averages.
- A new series of lower highs and lower lows established

Targets are illustrated on chart.. I am looking for an upside correction, i will be shorting near 1.3500, with a stop loss daily closing above 1.3700 and targets at 1.3300,1.3100 and 1.2750.
As usual, limiting your risk at any trade is compulsory, technical analysis increases your chances of success, but never works all the time.

Best of Luck , join me at https://twitter.com/thefxchannel
Also at my Facebook             page http://www.thefxchannel.com
My best regards,
Technician
I see three MA's concentric. How does it work?
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Every moving average has a source, the high,low, and close.
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thanks for sharing I really liked this analysis I will be following it
+1 Reply
do you have any idea about usdchf???
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Technician TOP binaryoption
The opposite :)
+2 Reply
As usual, a very interesting analysis, but the monthly chart makes me cautious.

After a very bearish June, we now seem to have a doji candle forming and this lack of downward momentum has me quietly sidelined at the moment.

From the current position I think we may get a bounce off the 50% fib up towards the 1.3600 area before any further move down.

I like your studies Technician, good luck.
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Thank you there, i also see a potential upside correction before resuming the downside. Good luck mate
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Kumowizard PRO Technician
Your chart is great! It is pretty obvious on daily time frame too. Retest to 1,3500 - 1,3520 is possible, but that defenately looks like a sell zone. EUR shows nice bearish reversals on other crosses too. EURNOK, EURSEK for example. EURGBP will likely remain bearish too in long term, despite the recent corrective move.
+1 Reply
butterliesel Technician
hello technician, what do you think about today? any idea? regarding yellen

thanks for your idea, cheers, heinz
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Technician TOP butterliesel
Hello, i think if yellen maintains her dovish tone the u.s. dollar may selloff. alternatively if her tone slightly changes to more hawkish that would confirm more dollar gains.
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Kumowizard PRO Technician
What you say is all true, however as I see most of people think Yellen is dovish. In fact She has been building communicating extremely well, I rather think She has been neutral so far. More FED policy makers are becoming hawkish recently, and even the biggest Doves are quiet now. It's a game theory: if both equity and bond mkt takes recent slightly hawkish FED news so well (both mkts are bullish still), then FED can hike rates sooner, as seems no one really cares and hike expectations are built into prices... at least for now.

As far as technicals look like, well yes USD is short term overbought, can swing a bit. But as your analyses perfectly shows, the big picture will remain bearish for EUR and bullish for USD. This mkt is a sell on spikes.
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Wow, that was quick, unfortunately we didn't have any upside correction yet.
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Perhaps the correction will come when the Swiss National Bank starts selling Francs or buys Euros (sneaky) if they hold their 2011 1.20 EUR/CHF red line doctrine.
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I would love to see the EURCHF go a bit more lower, I would load longs heavily
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tompower Technician
WishI had of followed you before, looks like I'm late to the party. I just hit play and see the result
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:) . Markets are always there buddy
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Itching for it too except for the too good to be true warning in the back of my head. September fireworks would be a surprise. October seems more likely for action. We will see soon enough.
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No mercy for euro bulls.
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That was much faster than I expected
+1 Reply
I closed position at 1.27900 how can I thank you thats great as usual
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Technician TOP manijeh.kazemi.33
Lol, you are taking every position i post here .. Thats interesting
+1 Reply
Technician TOP Technician
where did u place your sell?
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Iam convinced of your ability
+1 Reply
Technician TOP manijeh.kazemi.33
Thank You
+1 Reply
Technician TOP Technician
but dont forget that placing a stop loss is a must
+1 Reply
my sell at 1.30560
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What next? :)
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Your feedback and comments are really helpful; do also do analysis on Gulf Market especially Dubai; if so kindly need to analyze DFM; ARTC; Emaar.
Regards
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