It really looks like the price is drawing a Head and Shoulders. A break from the latest patter (Rising Wedge) would give this theory more power, while a weekly close above 42.00 would minimize the chances for it to be accomplished.
It looks like bears are still pushing the Euro lower. I would go short to 1.3540 if the price will drop under the current low.
Happy New Year to Everybody! I have missed the market for a while. It looks like EUR/USD is pretty steady between 1.3600 and 1.3800. The break below the trend line after the false breakout above 1.3800 could mean some selling pressure. I would keep an eye on a short term breakout above 1.3677/1.3700 which could trigger a rally to 1.3750 or 1.3800. On the other...
EUR/JPY has consolidated near the uptrend line pretty nicely. Using the current premises I believe that another bounce from 141.00 area would trigger a rally above 142.00 all the way to new highs. But I would not exclude a negative scenario. A drop under the 141.00 could mean that a bigger correction might start for the euro, with the first target at 140.00.
The price of EURUSD has drawn a symmetrical Triangle right under the resistance. I would be attentive at a false breakout under the lower line of the triangle, followed by a rally to 1.3820. A strong selling signal I would consider being a drop under 1.3700.
It would be very interesting to see the dollar strengthen again, after the trend line retesting.
EUR/JPY has a pretty bearish setup at this point. On the daily chart it can be observed a Rising Wedge accompanied by some negative signals on the 56 days RSI. A daily close under the lower line would confirm the pattern. The target for a fall would be around 125.00. It is important to consider also the possibility of a rally in case the price will be rejected...
I would see a recovery of the Euro all the way to 1.3600/50 and after that a drop under the current low.
The latest USDA reports and estimates are showing some interesting values. Everybody is expecting a very good Corn production. Last year they were expecting a very bad one, but from then the price lost more than 50%. So I will not be surprised to see a lower production than estimated right now. From the technical point of view, the price got to a key level...
1.3800...seems to be in a very important Fibonacci Cluster, but not only. There are also some rejection line there. Break or fall? I would love a corrective move. What do you think?
Flase Breakout above 1.3800? Possible, a corrective move out of the Rising Wedge could bring some profits for the bears.
The H&S has been redrawn a little bit. Now we have 2 bearish Patterns. If 50$ will fall, I maintain our targets, if the upper line of the triangle will be broken then I'm thinking of a rally to 55$ per share.
I would be tempted to say that from here the up trend might continue. A Hammer was formed on High Volume right at a pretty interesting level. As long as there will not be a daily close under 45.00 we can expect a rally above 52$.
The dollar started to gain...EURUSD fell under a good local support and the price target might be for the moment 1.3450.
The EUR/USD touched e new high for the current trend, but is this a good signal? We should wait to see if the breakout above the latest highs will be confirmed also by a close, or it will prove to be a false one. The 28 periods RSI shows a negative divergence and also an Head and Shoulders pattern. With the current price action I am tented to believe that the...
What a beautiful reversal pattern! The Head and Shoulders will be confirmed by a daily close under 50$ per share. First target is at 46 bucks and full pattern's target is at 43$/share.
The price of Gold has hit a pretty good resistance zone. Down Trend line, Ex Up Trend Line and 61.8 Fibonacci Retrace. The support sits around 1330 - 1340$ per ounce. A break above 1380 could target 1400$ per ounce.
EURUSD seems to be giving us other interesting signals. A Rising Wedge took form during this week. I am still bullish for this trend, awaiting for a retest on 1.3350. A drop under 1.33 will confirm the pattern and my targets would then be 1.3250 and 1.3200.