EURUSD Technical Analysis 2015, 26.04 - 03.05: This is key week - Brearish or Bullish? Reversal breakout continuing or bearish breakdown to be started - page 2
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Press review
newdigital, 2015.04.30 07:37
EUR/USD Technical Analysis: Resistance Now Above 1.12 (based on dailyfx article)
The Euro continues to push higher against the US Dollar having reversed as expected after showing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1266, the 38.2% Fibonacci retracement, with a break above that on a daily closing basis exposing the 50% level at 1.1515. Alternatively, a move back below the 1.0959-1.1040 area (23.6% Fib, March 18 high) clears the way for a test of the March 31 low at 1.0712.
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newdigital, 2015.04.30 10:45
Focus Now Turns to 1.15 for EUR-USD
Analysts are now talking about 1.15 being achievable. The question on everyone's mind is this - will 1.10 finally break and lead to higher levels for the euro?
"We still believe the gains in the EUR/USD are corrective, but purely technically alone this range breakout can allow for some upside extension. 1.1275-1.1500 is a very strong technical resistance zone to be mindful of in that regard," says a morning forecast note from Lloyds Bank.
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Sergey Golubev, 2015.05.01 08:21
AUDIO - Spotting the Patterns with Bill Henner
Economic data and the fed proved to be the major market movers on Wednesday, yet special guest Bill Henner spotted something different. With 25 years of floor trading experience in Chicago, Mr. Henner is no stranger to market patterns. The duo discuss the current market condition as well as what Bill has gleaned from the charts.
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Sergey Golubev, 2015.05.02 11:26
EUR/USD May Target Mid-$1.1500s; USD/JPY Best Bet for USD Gains (based on dailyfx article)
The ECB's QE trade has consisted of three components in 2015: a weaker Euro; higher bond prices/lower bond yields; and higher equity markets. This week especially, we've seen that trend reverse, and quite quickly: the Euro has rallied; German yields, especially at the long-end, have shot higher; and equity markets across the Euro-Zone have slipped.
There is thus a split in the US Dollar's prospects, depending upon where you look. In EURUSD, the potential for a move into the mid-$1.1500s seems possible given the potential double bottom nature of the recent consolidation breakout, boosted by the extreme Euro short positioning seen in the futures market. On the other hand, if the US Dollar is to continue its recovery after the shelling it took over the past two weeks, then USDJPY may offer the best opportunity, given that the market is the least short the Japanese Yen since Q4'12 - right before Abenomics began and the Yen's meltdown commenced.