Tag Archives: EUR

EUR/USD Regular Bullish Divergence In 4h Timeframe

Nenad Kerkez

The EUR/USD has reached W L4 support and we can see that the price has established a bullish divergence. If the 4h candle doesn’t close below the W L4 – 1.1834 we might see a bounce to the upside possibly targeting W H3-1.2022 and W H4 – 1.2085. However 1.2050-85 is the zone for short sellers. If the price rejects from the zone, targets should be 1.2022, 1.1964 and 1.1897 that would complete a W L3 retest. more…

EURUSD Still Trading Sideways

Daud Bhatti

Short-term EURUSD Elliott Wave view suggests that the pair remains in a sideways triangle range between 1.2554 and 1.2153 levels as mentioned in the previous post here. Until we break out of the range, we look for the sideways price action to continue. Triangle doesn’t have any particular trend, but it is generally a continuation pattern, thus the pair likely thrust higher to continue the previous bullish trend after the sideways action is over. If we take a look at the previous cycle from January 2017 low. The pair shows a higher high sequence thus the pair is favored to trade higher once triangle consolidation is complete. It’s important to note that the Triangle is labeled as A,B,C,D,E. more…

EUR/GBP Indecision Between Trend Line Diagonals

Nenad Kerkez

The EUR/GBP has been trapped within the narrow range of W L3 and W H3 Pivot. Slow price action indicates that we might expect a breakout when volatility gets higher. At this point, the price is stalling between the two trend line diagonals that also intersect essential pivot points. Break of W H3 – 0.8737 should target 0.8760 and possibly 0.8792. However a break of D L3 – 0.8710 should target 0.8680. The EUR/GBP ATR is low, so pay attention to breakouts and corresponding targets. more…

EURUSD Short Term Rally Opportunity

Peter Adamson

I was waiting for EURUSD to rally yesterday, and this morning I missed it! Silly me. But it is correcting now, so I think there may be a chance to get in.

Remember what Gann taught us about the safest point of entry: the first higher bottom. If you observe the hourly chart you will see that the trend has reversed to the upside. We now have a range from 1.1916 at 13:00 on 9 January to 1.2018 at 12:00 today. Notice the interval is very close to 24 hours. Naturally we will be looking for support at the fib levels between these two prices: more…

EUR/USD Buying The Dip Continues During Holidays

Nenad Kerkez

The EUR/USD has been bought on the dip that formed the right shoulder of the bullish SHS pattern also known as – Inverted Head and Shoulders. Holiday trading is always risky due to low liquidity, and lower liquidity might in turn, produce higher volatility. But at this point, the trading has been a bit quiet. The ATR for the last 14 days is only 62 pips, and the EUR/USD has made 29 by the time of writing this analysis. As long as the EUR/USD is kept above 1.1835 targets are 1.1890. 1.1905 and 1.1950. Have in mind the ATR projection high is 1.1917, so the pair needs to break above 1.1917 with a stronger momentum to reach the W H4 resistance. If it manages to touch and stay above 1.1906, 1.1950 could be achieved by the end of the week providing we don’t see any profit taking on long trades. more…

EURAUD Could See More Upside

Daud Bhatti

EURAUD Short Term Elliott Wave view suggests the decline to 1.5057 ended Intermediate wave (X). Up from there, the rally unfolded in 5 waves impulse Elliott Wave structure, suggesting that while pullbacks stay above 1.5057 low, pair could see more upside. Up from 1.5057, Minute wave ((i)) ended at 1.5234, Minute wave ((ii)) ended at 1.5075, Minute wave ((iii)) ended at 1.5606, Minute wave ((iv)) ended at 1.5481, and Minute wave ((v)) ended at 1.5657. more…

EUR/JPY Consolidation Breakout Possible

Nenad Kerkez

Different Forex crosses are breaking out of their consolidation phase, making breakouts off the important levels as we could see yesterday in the example of the GBP/NZD. Today we have a consolidation with a possible breakout on EUR/JPY. The POC zone 132.12-132.30 (D H3, EMA89, 38.2,are pivot) could reject the price towards 131.90. Break below 131.90 might target 131.75 and 131.30. The current ATR is 37 pips while the projected ATR is 86 pips so the price still has the room till next support levels.