EURUSD - Trends, Forecasts and Implications (Part 1) - page 33
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in fact now the movement is classic!!!
I don't know yet. It's hard to say.
But I'm up on the euro myself.
That's the thing, I haven't covered the lows yet, but I need to turn around)
will it go any lower?
>> or the second touch of the level
50/50 there may be surprises, end of the week after all
Today's movement originated yesterday...
Interesting turkey.
Took a closer look and started working on mine.
Thanks for the tip.
I think the eu is going to 1.4830
How ?
I think the eu will go towards 1.4830
How ?
Comment by the VTB
So, yesterday the markets stopped the rally of optimism despite the quite good data that came out during the US session. While the home mortgages and building permits, the Philly Fed Industrial Average showed a good increase, and the weekly jobless claims showed a decrease. Yesterday the Dow Jones index showed a decline of a token 0.08% to 9783. The Shanghai index was down 3.19% today. However, the Dow futures are now showing zero growth. The price of WTI crude oil fell slightly to the current $71.81 per barrel. The Euro, on the other hand, tried to correct down to 1.4646, but then rose again above 1.47.
Technically, the 1h chart shows that after the upside surge of the 8 Sep and the break-up of the summer channel, the Euro is in an ascending channel. The Euro has been in the upper part of this channel for the last two days, failed to break through the upside resistance, fell today and bounced back from the support (passes by the lows of September 14 at 1.4515, September 15 at 1.4560 and today's low). We believe the move in the uptrend channel should end up with a break of the channel resistance and an acceleration of the move upwards. As a matter of fact, so far, apart from September 8, we have not seen any powerful upward impulses inside the initiated uptrend. At the same time, the trends are characterized by powerful impulses, going up by 150 pips or more, day after day. This is connected, as it seems to us, with the fact that the trend itself drew only about one third of the way (to the mark 1.56, which we assume).
Most speculators still believe that the exit from the summer corridor upward is false, and the growth will be stopped at least by the resistance around the level of 1.47. For instance, the service of the famous American forex broker Oanda ( http://fxtrade.oanda.com/tools/statistical_information/fx_open_position_ratios.shtml ) shows that 62.5% of players are now selling the Euro, and 37.5% are buying. And roughly the same ratio has been observed since the Euro broke through the summer range upwards (before the release of the Nonfarm Payrolls of September 4, the ratio was 50% to 50%). Thus, the speculative masses in general continue to sell the Euro on the rise, without closing the loss-making sales that are stretching even from 1.40 ( http://fxtrade.oanda.com/tools/statistical_information/fx_open_position_summary.shtml ). There is no upward momentum in the Euro right now precisely because the speculators continue to be "patient".
A sharp upside break-up and an acceleration of the Euro probably will be possible, when it becomes clear that the resistance around 1.47 has not held. We expect that to happen in the coming days.
VTB comment
. There is no upward momentum in the euro right now precisely because speculators continue to "tolerate" .
.....
To all the "tolerant" people here, I suggest you close your shorts.
Stop being patient! Time to go up again!
If we don't hit 1, I'll take something off myself.
You may start ;)
Although I do not trade this pair as a principle, but I see 1.4680 to close today ;)
My humble opinion....