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EURUSD Discussions

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EUR/USD WEEKLY as of Monday, 18 March, 2013

A Weekly white body has formed (because prices closed higher than they opened).

For the past 10 Weekly candlestick bars as of 15/03/2013, there are 4 white candles versus 5 black candles with a net of 1 black candles.

For the past 50 Weekly candlestick bars as of 15/03/2013, there are 24 white candles versus 25 black candles with a net of 1 black candles.

A Weekly engulfing bullish line has formed (where a white candle's real body completely contains the previous black candle's real body). The engulfing bullish pattern is bullish during a downtrend(which appears to be the case with Euro Dollar / US Dollar). It then signifies that the momentum may be shifting from the bears to the bulls.

If the engulfing bullish pattern occurs during an uptrend, it may be a last engulfing top which indicates a top. The test to see if this is the case is if the next candle closes below the top of the current (white) candle's real body.

Elliott Waves High Volatility has detected a possible point 4 of a WolfWave (21%) pattern for Euro Dollar / US Dollar. This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4.

The present wave patterns are:

fast amplitude (8%): bullish wave 1

moderate amplitude (13%): bullish wave 3

Elliott Waves High Volatility has detected a Gann Swing or Pullback that is usually a bearish pattern! It should be used with other indicators.

Euro Dollar / US Dollar is long term Bullish as the 144 days moving average of 1.33 is increasing. The Relative Strength Index is at 49.56 in the neutral territory. The Relative Momentum Index is at 53.16 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.00, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 4.04. This value is in the oversold territory.

eur-candle-w.thumb.png.e50faa9554f37f3ca088ecfc8935e4bc.png

eur-wave-w.thumb.png.20351267373f973a1c9e91953937ad38.png

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EUR/USD DAILY as of Sunday, 24 March, 2013

Elliott Waves High Volatility has detected a possible point 4 of a WolfWave (21%) pattern for Euro Dollar / US Dollar. This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4.

The present wave patterns are:

fast amplitude (8%): bullish wave 1

moderate amplitude (13%): bullish wave 3

Elliott Waves High Volatility has detected a Gann Swing or Pullback that is usually a bullish pattern! It should be used with other indicators.

Euro Dollar / US Dollar is long term Bearish as the 144 days moving average of 1.31 is decreasing. The Relative Strength Index is at 45.01 in the neutral territory. The Relative Momentum Index is at 23.12 in the oversold territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.02, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 61.35. This value is in the neutral territory.

eur-wave-d.thumb.png.fa6545297d216975e44048d4d1358837.png

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Hi Everyone,

Today we have for you two USD pairs. They seem a little of sync and after yesterday's reactions to Cyprus we are expecting mixed sentiments in the market today. Presenting to you Eur/Usd and Gbp/Usd today:

If you happen to take these trades let us know how they turn out.

Best

TradeCuts.

5aa711d14d49d_eurusd26thmar.jpg.6b82e16b707149f46e0e06e6faf9c04f.jpg

5aa711d153839_gbpusd26th.jpg.80d5edc74f40f0d71ac49eae2c01650a.jpg

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EUR/USD DAILY as of Tuesday, 26 March, 2013

Currently the RSI does not show any Failure Swings but Prices has set a new 14-period low while the RSI has not. This is a BULLISH DIVERGENCE.

A SAR Buy signal yesterday. If you are short, this might be a good place to exit.

The close is currently

BELOW its 200 daily moving average

BELOW its 50 daily moving average

BELOW its 20 daily moving average

The current market condition for Euro Dollar / US Dollar is Very Bearish

A Daily big black candle has formed. This is a bearish candle as prices closed significantly lower than they opened. If the candle appears when prices are "high," it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trend line, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.

For the past 10 Daily candlestick bars as of 25/03/2013, there are 5 white candles versus 5 black candles.

For the past 50 Daily candlestick bars as of 25/03/2013, there are 23 white candles versus 27 black candles with a net of 4 black candles.

A Daily engulfing bearish line has formed (where a black candle's real body completely contains the previous white candle's real body). The engulfing bearish pattern is bearish during an uptrend. It signifies that the momentum may be shifting from the bulls to the bears.

If the engulfing bearish pattern occurs during a downtrend (which appears to be the case with Euro Dollar / US Dollar), it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle's real body.

eur-candle-d.thumb.png.fcba8d1438bfb8d58b00ac15111daa2b.png

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The EUR/USD pair went nowhere during the session on Tuesday. The 1.2850 level is significant support level, and as a result we are not ready to start selling this market quite yet. It should be noted that while the markets had a nice “risk on” feeling to them in general, the Euro could not capitalize.

 

This is probably because there is now a new concern with Europe. The biggest problem with Europe right now is the fact that they are using the depositors to bail out the banks in Cyprus. With that being the case, we suddenly have to start asking questions of the peripheral countries and whether or not deposit will be protected there in cases of bank failures. There are certainly enough week banks in places like Spain, Portugal, Ireland, and Italy to make traders concerned about the European Union in general. If that’s the case, we may see money flowing into the United States from across the Atlantic Ocean.

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I see another accumulation going on now....My prediction is that by the end of tomorrow 1.2935 level will be traded ...:2c:

 

agree with your call ...however Euro will head a lot further North and South for the $ here on ....don't Ya think? :missy:

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It looks like the way is clear for eur/usd to 1.2775 as i mention in a previous post and as there is no clear solution to Cyprus crisis.

 

After EUR/USD hitted this week my target at 1.2775 i am expecting a rebound, i believe eur can climb to 1.2920 but at this moment I don't believe it can go higher, si i will sell euru above 1.2910.

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After EUR/USD hitted this week my target at 1.2775 i am expecting a rebound, i believe eur can climb to 1.2920 but at this moment I don't believe it can go higher, si i will sell euru above 1.2910.

 

As I already mentioned Euro will depreciate in a short run. I am expecting Euro to hit 1.2700 in the month of April.

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After hitting 1.2770 the euro managed to rebound and hitted 1.3030 which i believe it is a nice entrance point for short positions. I will put my sell order for Monday at 1.3008, no stop loss now, i will check how the trading day will go and then i will decide.

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USD lost its strength relative to other major currencies. Looking at current price action and current support and resistance we anticipate the trend to continue. Expecting Eur/Usd to go long Intraday, 9th April. Here's a look at the detailed technical outlook:

Best

TradeCuts

5aa711d73dfc3_eurusd9thap.jpg.f6db2d0910896f8b9f284d6b5dbe79b2.jpg

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I am expecting euro to hit 1.3120 against US dollar, at this point i will add to my short position opened at 1.3008, I beleive it is time for a little pullback in the euro.

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EU unemployment rate has risen to a record 12.1% due to the recession. Moreover, the Euro zone inflation has is now at 1.2% and this has put additional pressure on the ECB for a rate cut.

 

As for the US economy, the S&P/Case-Shiller Home Prices increased 9.3% in comparison to last year.

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The latest COT (Commitments of Traders) report CME (Chicago Mercantile Exchange) reveals that large specs had added to the net euro short position as of May 7th. This data showed a net short EUR FX position around -33,5k contracts as of Tuesday, in comparison to the previous week’s -30k position

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