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Analysis and forecasts for EUR / USD 05/27/16Movement of growth that occurred in the last two days we can qualify as a correction of the recent declines. Currency pair found support at 1.1129 while strong resistance level remains 1,1213-16. (For the record, let me add that these are minimums of 23 and 25 April. In addition, this level coincides with the 38.2% fibo increases from 0.8231 to 1.6038 level, which at the moment is quite a barrier to demand). This does not mean, however, that demand will not try to move out attack towards resistance 1.1216, which break open the way towards 1.1240 level. However, keeping in mind the data from the US, I do not think that either the party wanted to take the initiative before the hour 14:30. Due to the above signal for the supply or demand, should be read GDP. Summing up for a better reading supply will direct Eurodollar towards recent lows 1.1144 and 1.1129. In contrast, worse reading may be a pretext to develop a stronger correction towards 1.1280. In the longer term, after completion of the correction, I expect further declines towards the recent lows.
by RobertPapon
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Analysis and forecasts for EUR / USD 24/05/16The technical situation on the main currency pair has not changed. The preferred option remains further declines towards lower price levels. Until then we may be witnessing the development of movement correction toward resistance 1,1256-82. Support for this view may be better readings from Germany. It should however be noted that after adjustment, the supply should push-dollar towards the minimum in the last level 1,1179-87. Accordingly, the level of around 1.1280 seem to be an ideal place to open short position. Taking into account the possible interest rate hike in June, we can also assume that further declines will take place without the mentioned correction. This in turn means that the breaking of the last low of 1.1179 will open the way towards support at 1.1144 and 1,1058-80. Strong support in this case are robust readings from the US economy.
by RobertPapon
Analysis and Forecast EUR / USD - Weekly review (23.05-27.05)Currency pair after the recent declines and reaching the level of 1.1179 is currently in revision. Demand side should lead to increases in the vicinity of 1,1256-82 (the upper limit of the downward channel, and a minimum of 13 May, which coincides with the 23.6 fibo of 1.1617 drops to the level of 1.1179). For overcoming w / w resistance demand may even reach the vicinity of 1.1345. After the implementation of the motion correction expect declines towards the 1.1216 level and 1.1179. Breaking the support levels open the way towards much lower price levels. The next levels are 1.1144 props and 1,1058-80. At the moment, expectations of a possible rate hike in June will support the US currency. Therefore, the adjustment may be local in nature or can be witnessed further declines without the said correction. A variant of the base seems to be a further weakening of the euro against the dollar. The threat for the said variant will be worse readings from the US, which negate the increase in June.
by RobertPapon
Analysis and forecast of EUR / USDThe technical situation currently favors further declines. Currency pair ended the week around 1.1313 (76.4% fib increases of 1,1216-1,1617), and considering the recent declines, it is possible to undo the correction 1,1336-59 area. After completing local correction, the supply side should push the exchange rate discussed currency pair towards 1.1240 and 1.1216. It is also possible variant of further declines without any correction. In this case, the start of the week we will start further declines towards 1.1216.
Short
by RobertPapon