EUR/USD | Technical Analysis | 11 February 2011

EUR/USD | Technical Analysis | 11 February 2011

The exchange rate is on or just above the neckline of a large H&S pattern visible on the 4-hour chart. If it breaks there is a long term downside target of 1.3165 based on the pattern length. The line of support, including the monthly pivot at 1.3440 could provide a closer.

The previous trough low at 1.3507 is key, as if broken it will make the break of the neckline decisive and also reverse the rising sequence of peaks and troughs to a descending one, thus marking a change in trend. It is possible there will be considerable support at this level with a bounce possible to perhaps 1.3535 or even 1.3560 before the probable resumption of the downtrend.

by Joaquin Monfort, Analytical expert , Forex4You © 2011

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EUR/USD | Euro/Dollar | Technical Analysis | 3 february 2011

EUR/USD | Euro/Dollar | Technical Analysis | 3 february 2011

This pair has fallen back down to support from the major trendline from the June ‘10 lows, as anticipated. From here it could launch another rally with a target just short of the recent highs at 1.3850.

Alternatively there is a possibility of a break down – possibly even a collapse. If so then the next substantial support grouping at 1.3650 could be expected to at least stall any bear moves.

by Joaquin Monfort, Analytical expert , Forex4You © 2011

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EUR/USD | Technical Analysis | 26 January 2011

EUR/USD | Technical Analysis | 26 January 2011

After yesterday’s shallow pullback EUR/USD has made a recovery rally to new highs. It is possible that from here there may be a more significant correction. The rate air-kissed the underside of a major trend-line from the June lows at 1.3720 today and it could reverse direction from here and fall, perhaps to support at 1.3640 initially and then maybe lower to 1.3590.

The whole move up from the 18th Jan also looks like an ending diagonal which also adds bearish overtones. Ultimately, however, price is not falling yet and momentum is stuck in overbought territory, and so without a confirmation it is too early to go short and still quite possible the rate might pop up and touch the monthly pivot at 1.3800.

by Joaquin Monfort, Analytical expert , Forex4You © 2011

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EUR/USD | Technical Analysis | 25 January 2011

EUR/USD | Technical Analysis | 25 January 2011

This pair pulled back and continued rising yesterday as anticipated. It has now reached a substantial support and resistance level at around 1.3680 which is just short of the old major trend-line from the June lows which lies at 1.3720. It has begun correcting quite steeply from there and there is a rare and bearish Demark buy setup signalled today.

It is probable the correction has further to go and will reach the trend-line for the whole move up from January 10th at 1.3580, before perhaps reaching 1.3535 and then 1.3450. After that however the bullish trend should resume.

by Joaquin Monfort, Analytical expert , Forex4You © 2011

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EUR/USD | Technical Analysis | 21 January 2011

EUR/USD | Technical Analysis | 21 January 2011

Today’s rally on low volume, however, is a sign of lack of conviction and could presage a decline. But the latest wave up from yesterday’s 1.3400 lows is too complex to indentify and gives us no clues as to future action. Read more

EUR/USD Technical Analysis | 20 January 2011

EUR/USD Technical Analysis | 20 January 2011

The rally in the euro stalled yesterday and we have had a correction since which has brought the exchange rate back down to the low 1.34s. It could fall lower or rally back up to the highs, perhaps even to 1.3550. If it falls lower then my previous target of 1.3350 still stands. Read more

EUR/USD | Euro/Dollar | Wave Technical Analysis | 18 January 2011

EUR/USD | Euro/Dollar | Wave Technical Analysis | 18 January 2011

The EUR/USD has declined further, supposedly forming a corrective structure of the 4th wave of the whole uptrend section. At the same time the price decreased by 120 pips and tested the estimated correction level 38.2% Read more

EUR/USD Technical Analysis | 18 January 2011

EUR/USD Technical Analysis | 18 January 2011

Yesterday the euro-dollar pair pulled back in what was probably an Elliot wave 4 and then began rallying overnight, reaching higher in a wave 5 as anticipated.

t should reach the recent highs at 1.3450 and probably surpass them, with an eventual possible target of perhaps 1.3475, although initially I would expect it to match the highs. Read more

EUR/USD Weekly Technical Analysis Review | 17 January 2011

EUR/USD Weekly Technical Analysis Review | 17 January 2011

The EUR/USD is still in a Bearish situation, this is indicated by the Downtrend channell at the Weekly Timeframes. Event last week this pair closed above EMA 21, but the EMA Cross is in a Bearish mode too. However, the EUR/USD is supposed to test the 1.3320 level; if this pair can break and close below that level, this pair will find a new level at 1.3234 as the first target and 1.3161 as the second target. Read more