Tag Archives: EUR

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…

EURUSD Is Giving Mixed Signals

Ville Vainio

EURUSD pushed higher Thursday and this puts my wave count to jeopardy. This is still valid count and the upwards move is in 3 waves. If the upwards price action persists, there is likely another count more suitable here. The recent low allows the triangle scenario which I have talked about before. If EURUSD continues higher I am going to adopt the triangle count below. more…

EURUSD To Make New Lows To 1.0695?

Ville Vainio

EURUSD was on a down note with the Greek vote last week adding some volatility to this pair. In my opinion, no matter what, Greece is staying on the Euro zone. I am expecting this pair to decline further before turning bullish for the next corrective wave up. If this is going to be a triangle forming here, the decline should be subdued. If this is following my preferred wave count, This can go much lower. We will find out soon enough which view is correct. more…

EURUSD: all bears need now is a ‘lower low’

Fawad Razaqzada

The EURUSD has been trending lower in recent weeks and the selling pressure has accelerated over the past few days as the investor focus has returned to the interest rate differential between the US and Eurozone economies. Whereas the Fed has signalled that it is ready to hike rates later this year, the ECB has only recently started QE and there were no suggestions from President Mario Draghi today that the bank is ready to trim or end the €60 billion a month stimulus programme early. In fact, Draghi said the ECB has temporarily increased emergency funding to Greek banks by €900m. Thus, the ultra-accommodative monetary policy is here to stay for now and this should in theory put downward pressure on European bond yields, which in turn could depress the euro even further. more…

Oxi!

Ville Vainio

Greeks voted no! without realising the implications of this result. There was not a big reaction on the currency market at the start of trading but the worst is probably still ahead. Market gapped about 100 pips in EUR/USD so nothing major was the result of Greece referendum. My preferred wave count sees this gap low as minuette wave 2. I am looking for bullish upwards move next for this pair and overall strength on Euro. Next upside target is 1.1118 and key levels after that are 1.117 and 1.124 respectively. If this start to decline more, 1.0954 (today’s low) is invalidation level for this wave count. more…