EURUSD trying to break key resistance around 1.3357, this level is monthly fibonacci pivot 1st Resistance and fibonacci retracement level 38.2%
If it failed to clear from this level to the upside it may fall to test 1st support at around 1.3132 (monthly pivot and Fib. key level 61.8% with bearish if if falls hard at 1.2482-1.2544 and 1.2148 last support
Aussie double topping inside main support - resistance levels (weekly and monthly pivot) and have breached the support.
I see selling pressure on this currencies and the buy on dip strategy looks very risky, the next idea for this pair is sell on rallies if there's a pull back below 0.9156 or a break out short entry below last support at 0.9055
Analysis is based...
After setting up a bull trap that makes technical traders think that any pull back may happen (at least 3 analyst in the webinar I watched saying pull back may happen) after the good bullish bar at the first day of the month Euro keep pushing lower and breaks two weekly supports.
targets and idea :
No signs of recovery yet but pull back may still happen with...
Two days rally on EURUSD meets first selling interest at around 1.3043 and manage to drag the pair down and closed below 1.3 big figure.
This pair may try to range next week on early monthly open inside 1.316-1.277 and inside 1.304-1.286 in the smaller scale with monthly trend still ranging on a weak downtrend.
Trade focus for this pair next week would be on...
EURUSD in mixed condition with ranging in long term, buying pressure in mid term and selling pressure in short term.
The plan for EURUSD for now is by this scenario :
Look for long entry inside 1.2880-1.2975 with target, again at 1.3120 and 1.3355
If weekly price closed below 1.2880 then we may see another selling pressure on weekly chart aiming for 1.2762 with...
After a trend change confirmation at 1.3355 this pair keeps the downside pressure and maintain its short term and mid term downtrend. Any upside move for this pair may need to test 1.316 and 1.3355 main resistance.
Bearish engulfing also seen on monthly chart, we may see downside pressure for some months ahead.
as for now we can see it's making a positive...
This pair is now in downtrend after a marubozu candle forms a bearish engulfing pattern in weekly chart and again a selling pressure last week.
There is a possibility for this pair to do a bullish pullback but most likely it may still below 1.37 with 1.3475-1.35 as resistance, while the down side target would be around 1.325-1.327, 1.315-1.316, and a possibility...
price still probing on the resistance from the regression channel I draw here and it's now at 127.2 Fib. extension level which may provide a test resistance and a possible pullback may happen if it failed to break.
a Classic bearish divergence appeared on MACD histogram. My idea on this is if MACD histogram makes a higher...
Tomorrow's close price will show the possible direction for this price. Like the previous regression channel shows, after the trend break, price will make a pullback before reversing to the opposite direction (usually known as first touch).
Upside : this pair will meet resistance around 1.347 (127.2 Fib. extension)
Downside : 1.3165 is the support from sept....
Last week this pair confirms the negative divergence as a possible reversal by clearly break the low channel and directly touch 1.3 figure support, if the pull back is strong enough this pair may reach 1.3125 resistance level with the downside target area around 1.288 major support - 1.29 (fib. key level) OR ranging again inside the descending channel if the view...
Only share the possibilities for tomorrow until New Year
Have a nice Holiday, Merry Christmas, Happy Hanukkah, Kwanzaa or any celebrations you have :)
so, looking for another opportunity or just enjoy the holiday ?
Last week this pair continues the rally to previous high 1.317 resistance back to positive area, this pair seems like trying to break the triple fib. level resistance and aim for 1.34, but a failure to break te resistance this pair may go back to November low. A clear break from the 1.265 low on weekly chart may bring this pair further down.
Trend line :
The break of the up trend line (thin) after the divergence is the sign that the trend is reversing and the main trend is now the downtrend. (the previous divergence analysis on this chart : )
At the end of the week this pair bounced right at major support 1.289 and i'm expecting a pull back to somewhere around 1.2985-1.3...
a possible target at 1.278 if the up trend line is clearly broken, and a further up if the price can clearly break the previous high with possible target at 1.317.
note : that target can only applied to divergences that leads to reversals as for the upper target we need to look for resistance levels
US Fiscal Cliff helps to push the Euro higher and make a new low on November 2012.
Currently this pair is back at the Mid term congestion zone where a ranging may happen again until break out of the support/resistance by trend line.
Possible range :
Possible trading range for next month is somewhere inside 1.280-1.3065.
Fibonacci Retracement :
This pair tried to gain momentum after bounced from 1.272 support line which is the technical target when the price failed to maintain it's strength at 0.382 fib. level on Oct. 5, making a new high-low and testing that level again twice on Oct. 25 and at the end of the month.
The fibonacci level is created using trend based fibonacci.
Last Friday the price...