#EURUSD Short-term possible scenarios #forex

FX:EURUSD   Euro / U.S. Dollar
3383 19 42
EURUSD             is showing some signs of life again, after the major sell-off we have seen in the U.S. dollar on Wednesday, However, most of Wednesday's gains were erased yesterday, in a heavily volatile few sessions.

What I am watching , two possible scenarios:
  • I am expecting another test of 1.1036-1.1113 resistance area , I would look for long signals towards that resistance.
  • If we reach there, and I see a bearish candlestick i wouldn't hesitate to short again, for short term targets at 1.0800 and 1.0612.
  • A break above 1.1113 resistance will probably confirm a more prolonged upside correction, i would target on that case 1.1440-1.1532 area.

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Waiting for a short update. Please Mr. Loay give us an update as soon as its due.
Technician MuathAlBulbul
mmmm Mr Muath dont know what to tell you :)
-1 Reply
Technician MuathAlBulbul
I suggest that you have a look at the NZDUSD and AUDUSD seem more trade-able now
-1 Reply
MuathAlBulbul Technician
Haha, was my comment that stupid? It's almost at the downtrend line, so I figured a drop might be happening soon! Lol

Any ideas on AUDUSD and AUDNZD?
Technician MuathAlBulbul
Not at all. didnt meant that. NZDUSD is about to confirm a bullish breakout, while AUDUSD is testing the resistance
MuathAlBulbul Technician
Okay, just saw your AUDUSD chart! Waiting for your update. :)
Technician MuathAlBulbul
Cool Mr. Bulbul
After these ups and downs it looks as if it is consolidating between 1.05 and 1.10. I still believe there is much more bearish pressure than bullish. The convergence of trendline with the horizontal key resistance area creates a wall that should push the price down. I will change my mind only on a daily close above 1.1.
I don't trust RSI more than price action, but if RSI close above 60 it is a strong sign that something is changing in the EURUSD.
+1 Reply
Next week is gonna be awesome!
The answer is on the chart, during 3.02.2015-6.02.2015. Without a daily close above 1.8052, short is the only whay.
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