EUR/USD Mid-Day Outlook

With 1.4261 minor support intact, intraday bias in EUR/USD remains on the upside for 61.8% retracement of 1.4938 to 1.3969 at 1.4568. As discussed before, the corrective pull back from 1.4938 should have completed at 1.3969 already. Break of 1.4568 will target a retest on 1.4938 high next. On the

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: EUR/USD – Buy at 1.4310

As the single currency has maintained a firm undertone in part due to dollar’s broad-based weakness after the release of soft U.S. ADP job data, suggesting recent upmove is still in progress and may extend gain to 1.4454 (50% Fibonacci retracement of 1.4940 to 1.3968), however, weakening of near term

Source: ActionForexall Rss Feed

EURUSD 1.37 or 1.45?

Week starts off in a sour mood, but momentum is lacking as markets remained poised on a fulcrum. The key EU finance minister summit kicks off today and concludes tomorrow what will it mean for EURUSD?

The risk trade is making a feeble start for the week, as commodities are

Source: ActionForexall Rss Feed

EUR/USD Has a Resistance Cluster at 1.42

The EUR/USD slid last Friday after an AB=CD correction. The market starts this week finding support at 1.4060, then resistance at 1.4150. However, if another corrective rally swings from 1.4090, an AB=CD projection targets 1.42.

Source: ActionForexall Rss Feed

Trade Idea Wrap-up: EUR/USD – Stand aside

As the single currency has retreated after failing to penetrate the Ichimoku cloud top, suggesting the recovery from this week’s low at 1.4254 has possibly ended at 1.4423 earlier today and test of yesterday’s low at 1.4270 is likely but break there is needed to confirm the decline from 1.4940

Source: ActionForexall Rss Feed

EUR/USD Maintains Bearish Momentum in the US Session

The short-term momentum in the EUR/USD remains bearish, as the RSI reading in the 1H chart stayed below 60, and is now pushing back below 30.

Also, the rally from 1.4260 to 1.4420 was in a 3-wave sequence, possibly completing a corrective structure.

If the market can clear 1.4250, we are likely

Source: ActionForexall Rss Feed

EURUSD – Bearish Below 1.4377

Against a background of bearish EURUSD signals for sentiment for this week, the market traded to the most negative levels for 3 weeks. The lows were not maintained, however, and the net movement was virtually unchanged. While this price action highlights a degree of investor uncertainty, selling pressure has been

EUR/USD Daily Outlook

Further decline is still mildly in favor in EUR/USD with 1.4440 minor resistance intact and current fall from 1.4938 could extend to 1.4157 cluster support (38.2% retracement of 1.2873 to 1.4938 at 1.4149). But downside should be contained there and bring rise resumption. Above 1.4440 minor resistance will flip bias

EUR/USD Drops to Support Confluence

Price action on EUR/USD (a daily chart of which is shown) as of Friday (5/06/2011) after the Non-Farm Payrolls report has descended to hover around a confluence of support that includes the key 1.4500 support level and an uptrend support line that extends back to the early January low. Therefore,

EURUSD: Eyes Channel Support

As our expected corrective weakness was triggered and sent the pair lower on Thursday, further downside risk is now building up towards its channel support at 1.4420.We look for that level to provide a strong support and turn the pair higher in the direction of its long term uptrend. Further

Trade Idea Wrap-up: EUR/USD – Sell at 1.4680

Despite intra-day brief fall to 1.4457, as the single currency has rebounded on short-covering, suggesting consolidation above this level would take place and retracement to the Kijun-Sen (now at 1.4571) is likely, above would bring correction to 1.4626 (38.2% Fibonacci retracement of 1.4900 to 1.4457) but renewed selling interest should

EUR/USD Mid-Day Outlook

EUR/USD's sharp break of 1.4754 support indicates that a short term top is formed at 1.4938 after hitting upper channel resistance, on bearish divergence condition in 4 hours MACD and RSI. Intraday bias is flipped back to the downside for 1.4492 support and possibly further lower channel support (now at

Trade Idea Wrap-up: EUR/USD – Sell at 1.4720

As intra-day selloff has gathered momentum after breaking support at 1.4755 (now turned into resistance), adding credence to our view that top has been formed at 1.4940 yesterday and bearishness remains for retracement of recent upmove to 1.4545/50 (50% Fibonacci retracement of 1.4156 to 1.4940), below would extend weakness towards

EUR/USD: Trading the U.S. Non-Farm Payrolls Report

U.S. non-farm payrolls are projected to increase another 185K in April following the 216K expansion during the previous month, and the ongoing recovery in the labor market could generate a bullish reaction in the greenback as the prospects for future growth improves.

EUR/USD Mid-Day Outlook

EUR/USD continues to stay in tight range below 1.4880 and intraday bias remains neutral. More consolidations could be seen with risk of deeper retreat. But downside is expected to be contained by 1.4492 support and bring another rise. Above 1.4880 will target 161.8% projection of 1.2873 to 1.386 from 1.3427

Trade Idea Wrap-up: EUR/USD – Look to buy again lower

The single currency found renewed buying interest earlier today just above the Ichimoku cloud bottom at 1.4762 and has resumed recent upmove in line with our expectation (our long position entered at 1.4785 met target at 1.4885 with 100 points profit), further gain towards 1.4955/60 (50% projection of 1.4494 to

EUR/USD Weekly Outlook

EUR/USD jumped to as high as 1.4880 last week before making temporary top there and retreats mildly. Initial bias is neutral this week and some consolidations might be seen first. But retreat is expected to be contained by 1.4492 support and bring another rise. Above 1.4880 will target 161.8% projection

Growth Of Bearish Potential As A Factor For EUR/USD Correction

The assumed retracement to the key resistance levels has been confirmed with conditions for realization of the planned short positions. OsMA trend indicator, having marked a drop of parties’ activity, doesn’t contradict with preservation of earlier opened short positions targeting 0,8690/0,8700, 0,8660/70 and/or further breakout variant up to 0,8620/30, 0,8580/90.

EUR/USD Daily Outlook

With 1.4711 minor support intact, intraday bias in EUR/USD remains on the upside and further rally is expected to 61.8% projection of 1.2873 to 1.386 from 1.3427 at 1.5024, which is close to 1.5 psychological level. On the downside, below 1.4711 minor support will turn bias neutral again and bring

Growth Of Bearish Potential As A Factor For EUR/USD Correction

The assumed retracement to the key resistance levels has been confirmed with conditions for realization of the planned short positions. OsMA trend indicator, having marked a drop of parties’ activity, doesn’t contradict with preservation of earlier opened short positions targeting 0,8690/0,8700, 0,8660/70 and/or further breakout variant up to 0,8620/30, 0,8580/90.