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Sergey Golubev
Moderator
52095
Sergey Golubev 2013.05.12 10:07 

EURUSD was inside Ichimoku cloud for whole last week with real ranging market condition under primary bearish: the price was below Sinkou Span B line but abobe Span A line which is indicating the bearish condition as the primary trend with secondary ranging one. 

The price broke 1.3009 support level on open bar, and Chinkou Span line came very close to historical price so those two factors are indicating about future p[ossible breakdown for EURUSD. Besides, USDCHF is already on breakout for D1 close bar and this pair is leading in most of the coses for EURUSD/USDCHF combination. In this case, it may be good to watch EURUSD price to break 1.3009 support and 1.2924 support together with Chinkou Span line crossing historical price on close bar for possible sell trade openning. Thus, ramging market condition will be continuing, or we will have real breakdown for EURUSD for the next week for example.

  • Recommendation for long: none
  • Recommendation to go short: watch the price crossing 1.3009 and 1.2924 together with Chinkou Span line crossing historical price -  for possible short
  • Trading Summary: possible short

UPCOMING EVENTS (high/medium impacted news events which may be affected on EURUSD price movement for the next week)

2013-05-13 13:00 GMT | [USD - Retail Sales]

2013-05-14 06:00 GMT | [EUR - German CPI] 

2013-05-14 09:00 GMT | [EUR - German ZEW Indicator of Economic Sentiment]  

2013-05-15 06:00 GMT | [EUR - German Gross Domestic Product]

2013-05-15 12:30 GMT | [USD - Producer Price Index]

2013-05-16 09:00 GMT | [EUR - CPI]

2013-05-16 12:30 GMT | [USD - CPI

2013-05-17 13:55 GMT | [USD - University of Michigan Consumer Confidence Index]

 

 

ResistanceSupport
1.30501.3009 
1.31571.2935
1.3194 1.2924 
1.3242 1.2916 

 

 

SUMMARY : Bearish

TREND : Ranging 

 

Intraday Chart 

  

Sergey Golubev
Moderator
52095
Sergey Golubev 2013.05.13 07:39  

Breakdown is started on open D1 bar : Chinkou Span line is started to cross the price on historical data. But market is still in ranging condition so I think - we need to wait for the next open D1 bar just to be sure about this breakdown (because we are trading and making technical analysis on close bar sorry).

 

MetaTrader Trading Platform Screenshots

EURUSD, D1, 2013.05.13

MetaQuotes Software Corp., MetaTrader 5, Demo

eurusd d1 breakdown started on opeb bar

EURUSD, D1, 2013.05.13, MetaQuotes Software Corp., MetaTrader 5, Demo

As to intraday (H4 timeframe) so it is bear market rally is started but on open bar too sorry ...

 

MetaTrader Trading Platform Screenshots

EURUSD, H4, 2013.05.13

MetaQuotes Software Corp., MetaTrader 5, Demo

eurusd h4 rally

EURUSD, H4, 2013.05.13, MetaQuotes Software Corp., MetaTrader 5, Demo


 


Sergey Golubev
Moderator
52095
Sergey Golubev 2013.05.14 10:13  

This is ranging market condition for this pair for D1 and H1 timeframe. The most interesting situation is for H1 (see image below) - if the price will cross this cress-cross trendlines (by yellow color) to above so uptrend will be continuing up to 1.3018 resistance line, if from above to below - it may be downtrend with support line as 1.2976

 

Скриншоты торговой платформы MetaTrader

EURUSD, H1, 2013.05.14

MetaQuotes Software Corp., MetaTrader 5, Demo

eurusd ranging h1

EURUSD, H1, 2013.05.14, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
52095
Sergey Golubev 2013.05.14 12:43  

This is breakdown for EURUSD H1 timeframe

Скриншоты торговой платформы MetaTrader

EURUSD, H1, 2013.05.14

MetaQuotes Software Corp., MetaTrader 5, Demo

breakdown for H1

EURUSD, H1, 2013.05.14, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
52095
Sergey Golubev 2013.05.14 14:53  

Just come back to our D1 timeframe - if the price will cross 1.2935 support level on close bar from above to below (and Chinkou Span will cross historical porice on close bar on the same time) - we will have good downtrend.

 

MetaTrader Trading Platform Screenshots

EURUSD, D1, 2013.05.14

MetaQuotes Software Corp., MetaTrader 5, Demo

eurusd d1 breakdown

EURUSD, D1, 2013.05.14, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
52095
Sergey Golubev 2013.05.15 13:14  

This is breakdown (as expected):

MetaTrader Trading Platform Screenshots

EURUSD, D1, 2013.05.15

MetaQuotes Software Corp., MetaTrader 5, Demo

eurusd d1 breakdown

EURUSD, D1, 2013.05.15, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
52095
Sergey Golubev 2013.05.15 14:31  

As to breakdown ... all developing patterns for started from M15 timeframe are showing uptrend for the near future ...

 

MetaTrader Trading Platform Screenshots

EURUSD, H4, 2013.05.15

MetaQuotes Software Corp., MetaTrader 5, Demo

eurusd patterns

EURUSD, H4, 2013.05.15, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
52095
Sergey Golubev 2013.05.15 14:31  

As to breakdown ... all developing patterns started from M15 timeframe are showing uptrend for the near future ...

 

MetaTrader Trading Platform Screenshots

EURUSD, H4, 2013.05.15

MetaQuotes Software Corp., MetaTrader 5, Demo

eurusd patterns

EURUSD, H4, 2013.05.15, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
52095
Sergey Golubev 2013.05.15 15:48  

And this is 3-drives for uptrend

 

MetaTrader Trading Platform Screenshots

EURUSD, H12, 2013.05.15

MetaQuotes Software Corp., MetaTrader 5, Demo

3-drives for uptrend

EURUSD, H12, 2013.05.15, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
52095
Sergey Golubev 2013.05.16 10:20  
newdigital:

EURUSD was inside Ichimoku cloud for whole last week with real ranging market condition under primary bearish: the price was below Sinkou Span B line but abobe Span A line which is indicating the bearish condition as the primary trend with secondary ranging one. 

The price broke 1.3009 support level on open bar, and Chinkou Span line came very close to historical price so those two factors are indicating about future p[ossible breakdown for EURUSD. Besides, USDCHF is already on breakout for D1 close bar and this pair is leading in most of the coses for EURUSD/USDCHF combination. In this case, it may be good to watch EURUSD price to break 1.3009 support and 1.2924 support together with Chinkou Span line crossing historical price on close bar for possible sell trade openning. Thus, ranging market condition will be continuing, or we will have real breakdown for EURUSD for the next week for example.

  • Recommendation for long: none
  • Recommendation to go short: watch the price crossing 1.3009 and 1.2924 together with Chinkou Span line crossing historical price -  for possible short
  • Trading Summary: possible short

UPCOMING EVENTS (high/medium impacted news events which may be affected on EURUSD price movement for the next week)

2013-05-13 13:00 GMT | [USD - Retail Sales]

2013-05-14 06:00 GMT | [EUR - German CPI] 

2013-05-14 09:00 GMT | [EUR - German ZEW Indicator of Economic Sentiment]  

2013-05-15 06:00 GMT | [EUR - German Gross Domestic Product]

2013-05-15 12:30 GMT | [USD - Producer Price Index]

2013-05-16 09:00 GMT | [EUR - CPI]

2013-05-16 12:30 GMT | [USD - CPI

2013-05-17 13:55 GMT | [USD - University of Michigan Consumer Confidence Index]

 

 

ResistanceSupport
1.30501.3009 
1.31571.2935
1.3194 1.2924 
1.3242 1.2916 

 

 

SUMMARY : Bearish

TREND : Ranging 

 

Intraday Chart 

  

 

It was short. Next support line to be crossed to below is 1.2843


 

MetaTrader Trading Platform Screenshots

EURUSD, D1, 2013.05.16

MetaQuotes Software Corp., MetaTrader 5, Demo

1.2843

EURUSD, D1, 2013.05.16, MetaQuotes Software Corp., MetaTrader 5, Demo


Sergey Golubev
Moderator
52095
Sergey Golubev 2013.05.16 10:25  

And if we were talking about patterns so this was short too (it is developed/formed pattern):

 

MetaTrader Trading Platform Screenshots

EURUSD, M10, 2013.05.16

MetaQuotes Software Corp., MetaTrader 5, Demo

eurusd m10 for short

EURUSD, M10, 2013.05.16, MetaQuotes Software Corp., MetaTrader 5, Demo


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