EURUSD - Trends, Forecasts and Implications (Part 1) - page 926
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Latest forecast from DailyFX-Plus:
Our preference: Short positions below 1.395 with targets @ 1.385 & 1.3775 in extension.
Alternative scenario: Above 1.395 look for further upside with 1.399 & 1.4025 as targets.
Comment: thye pair has broken below its bullish channel lower boundary and should face a further weakness as the RSI is badly directed.
Key levels
1.4025
1.399
1.395
1.3897 last
1.385
1.3775
1.375
Of course, I don't claim to be 100% accurate. :)
The global trend is still downwards, I agree with that, but there is a probability of a resistance test at 1.3950 .
If my picture comes true, it will be a good bearish signal... :)
In principle, my statement was justified by the acceleration of the movement of euro/dollar in the direction of strengthening the dollar during the Asian session.
In the calculations we got the point 1.3855, which is the first corrective point on the way down, on the history this point is often the support resistance level, and therefore here we will watch the part of a small reversal for a further jump down, further to 1.3805 and most probably the final point, the final move will be, probably, 1.3855.
Good luck to everyone in predicting the trend move.
The latest forecast from DailyFX-Plus:
The forecast shown by you from DailyFX-Plus only really matches at a point after 1.3897 and only after the shift when the trend is moving downwards, if you use it as a reason to trade then it will be very easy to catch the los and nerves, when the price slowed down then it automatically changed the direction of the channel and constantly tried to break down all the time making a zigzag lunge towards the downward movement none of the TFs from 15 and above have seen a reversal trend which would allow to say with certainty that the price is about to correct.the channel at 20 pips was steadily moving downwards with a 38.1 Fibo deviation from the channel edge, so that was another sign of a stable directional move downwards.
Dow Jones Newswires column, by Stephen Cox
Intraday stop orders are placed at the technical stop-turn point, which is between the first support and the first resistance.
EUR/USD: Intraday stop orders should be placed at 1.3942.
Dollar/Japanese Yen: Stop orders for intraday trades should be placed at 91.07. This level may be an important intraday high or low, depending on the direction set at the beginning of the trade.
-Author Stephen Cox, 212-416-2212; stephen.cox @ dowjones.com; translation by PRIME-TASS; + 7 495 974 7664; dowjonesteam @ prime-tass.com.
/Steven Cox, a chartered technical analyst, is chief technical analyst at Dow Jones Newswires.
ecpulse
The Euro/Dollar pair is consolidating in a range of 1.3866 - 1.3902 and is currently trading around 0.3890. Yesterday the pair broke the support at 1.3900 and today we expect a further decline. The pair is supported at 1.3800 along with resistance at 1.4145. According to the four-hour Momentum, the pair is trading in the oversold area, so we might see a slight correction before the decline, also today the ECB will make its interest rate decision, which will have an impact on the market.
fxteam
EUR/USD - (1.3891)
Sell from 1 .3861. Stop at 1 .3891.Target - 1.3810.
Believe it or not, it is up to you to decide
FXpro
We would also remind you that today will be full of important fundamental data, which will surely have a strong impact on further developments in this currency pair:
- ECB will publish its decision on the main interest rate
- Jean-Claude Trichet ( European Central Bank Governor) will give a speech at the monthly press conference.
- US initial jobless claims for the week to 29 January
Resistance levels: 1.3900/20, 1.3950, 1.3975, 1.4000/10, 1.4040/50
Current price: 1.3887
Support levels: 1.3850/40, 1.3810/00, 1.3770, 1.3750, 1.3710/00
Histogram MACD is in the negative zone, has crossed its signal line from above and continues to decline, thus giving a sell signal for the Euro.
Stochastic Oscillator entered the oversold zone and formed a similar signal, as %K line decreased below %D line.
Therefore, as a confirmation that the forex market for this currency pair may become more bearish, we just have to wait for a breakdown of the local low 1.3850, which will open the way to the levels of 1.3810/00 and 1.3710/00.
If you look at the beginning of the branch you have been giving your own forecasts and opinions more than promoting other brokerage companies, and now you are taking someone else's opinion for your own, the relevance of the branch has almost lost its original meaning. At the beginning there were people who gave forecasts very well and the discussion was very interesting, and now it is just dry figures from other people's newspapers.
If you look at the beginning of the branch you have been giving your own forecasts and opinions more than promoting other brokerage companies, and now you are taking someone else's opinion for your own, the relevance of the branch has almost lost its original meaning. At the beginning there were people who made forecasts very well and the discussion was very interesting, and now it is just dry figures of other people's newspapers
I think the thread is relevant. Reading information from other sources is a useful thing, but if it doesn't suit you - there are personal opinions, prognoses. So what prevents you from discussing information or publishing your forecast?
Axel
LONDON, Feb 4 (ANI). /Dow Jones/. Sliding charts for 24 hours: