Category Archives: EUR/USD

EURUSD Rally Over?

Ville Vainio

Since the upwards correction has extended, i have made a small revision on my charts. The Fibonacci expansion tool on the chart shows that EURUSD has almost advanced to 161,8% Fibonacci expansion level at 1.136. This is a measurement of the relationship between corrective wave A and C (wave C would be 1.618 times waves A) This is important wave relationship in Elliott wave theory and gives good target for the correction to end. more…

EURUSD Is Bullish Above 1.1260

Nenad Kerkez

If you remember my past articles about EURUSD on 25.AUG I warned that 1.1255 is crucial for EURUSD upside. EURUSD dropped mainly because of Chinese equity markets, Shaghai index and EUROSTOXX50 futures especially at London open. Some hawkish comments about possible rate hike also gave boost to USDx which additionally lowered the pair. Yesterday we saw 2 rejections from 1.1260 each for 50+ pips and finally 1.1260 level was broken again. PMI rose to 53.3 from 51.8 and it better then preliminary estimate. more…

EURUSD Eyes New Lows

Ville Vainio

EURUSD has declined and closed below the critical level of 1.1213. This gives a stronger signal to the preferred wave count which proposes that the recent decline is the start of final larger wave down. The last wave of this massive decline should take EURUSD below the recent long term low of 1.046 and conclude the whole decline from 1.40 that started over a year ago. more…

EURUSD Corrective Wave Forming

Ville Vainio

EURUSD is forming a corrective minute wave (B). The last part of this large correction is half way done and should be 3 wave, A-B-C structure. The “thrust” measurement from the triangle is giving target of 1.1495 and Fibonacci expansion projection gives target about 1.1445 so those targets should give indication of the top for this minor wave Y. more…

EURUSD Challenging Resistance Above 1.1090

Janne Muta

EURUSD rallied to the 1.1090 resistance identified in my report yesterday. The pair reacted lower but then attracted buyers at an intraday support at 1.1012. This has led to a fifth consecutive up day with price once again trying to challenge the resistance area above 1.1090. EURUSD is trading inside the upper Bollinger Bands (1.5 and 2 stdv) and the Stochastics is getting overbought. Trend in 4h resolution has been strong and suggest that this will be another day without a significant correction in EURUSD but the upside is indeed getting limited as the resistance area is near. EURUSD is trading near levels that have been able to turn price lower before, therefore I expect that in today’s trading upside will be limited to 1.1090 – 1.1130 range. more…

EURUSD: Bullish Triangle About To Close

Ville Vainio

Up and down goes EURUSD and not giving a clear signal on the trend direction. Price action is looking corrective and EURUSD has not yet confirmed on the downside that the larger wave down has started. Friday’s NFP release sent EURUSD just over 100 pips down from the day’s high, which the market rapidly took back. The figures were slightly below expectations and in my opinion does not give much clarity on rate hike situation. more…

More Upside On EURUSD This Week

Ville Vainio

FOMC Thursday sent EURUSD lower. The statement did not say anything new and the rate hike nonsense is not any more clear than before. In my opinion there is going to be probably one rate hike but no more. EURUSD has declined since Wednesday and the decline is looking strong. If EURUSD goes below the recent low at 1.0808 my wave count needs a revision. I am going to keep this wave count which suggests a large triangle. more…

EURUSD Continues Bearish Move Towards Parity Level

Gregor Horvat

EURUSD recovered nicely since March, but we see price action choppy, overlapping and very slow compared to previous strong decline. That’s characteristics of a corrective price action, so we assume that this is just a pause within larger downtrend which may resume through August, as pattern can be near completion. Ideally pair will continue straight down into wave V targeting 1.0000 psychological level. more…