Download MetaTrader 5

EURUSD Technical Analysis 2015, 25.10 - 01.11: key support level to be broken for the breakdown to be continuing

To add comments, please log in or register
Hundreds of articles will help you to create a trading robot. Come and read them!
Sergey Golubev
Moderator
93764
Sergey Golubev 2015.10.25 10:46 

Daily price was on the reversal from the primary bullish to the primary bearish market condition with the breaking key support levels: price broke Ichimoku cloud together with two 'reversal' Sinkou Span lines and it was stopped to be below Ichimoku cloud in the bearish area of the chart within the following key support/resistance levels:

  • 1.1713 key resistance level located far above Ichimoku cloud in the primary bullish area of the chart;
  • 1.0461 key support level located far below Ichimoku cloud in the primary bearish area of the chart.

Intermediate s/r levels for this pair on the way to the key s/r are the following:

  • 1.1494 resistance located above Ichimoku cloud in the bullish area of the daily chart, and
  • 1.0807 bearish support level.

D1 price - bearish breakdown:

  • Tenkan-sen line broke Kijun-sen line from above to below for the bearish trend to be continuing.
  • Absolute Strength indicator's data is estimating the bearish trend.
  • Chinkou Span line crossed the price for the bearish breakdown.
  • 'Reversal' Sinkou Span line (as the border between the primary bullish and the primary bearish on the chart) is located above the price.
  • Nearest support levels are 1.0807 and 1.0461.
  • Nearest resistance levels are 1.1494 and 1.1713.

If D1 price will break 1.0807 support level on close D1 bar so the bearish breakdown will be continuing up to 1.0461 as the next bearish target.
If D1 price will break 1.1494 resistance level on close D1 bar so the bullish trend will be started with the secondary ranging condition.
If not so the price will be on ranging within the levels.

  • Recommendation for long: watch close D1 price to break 1.1494 for possible buy trade
  • Recommendation to go short: watch D1 price to break 1.0807 support level for possible sell trade
  • Trading Summary: breakout
Resistance
Support
1.14941.0807
1.1713
1.0461




SUMMARY : bearish

TREND : bearish breakdown
Sergey Golubev
Moderator
93764
Sergey Golubev 2015.10.26 10:39  

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2015.10.26 10:37

EURUSD Intra-Day Technical Analysis - stop near key support for the bearish breakdown to be continuing (based on efxnews article)

Skandinaviska Enskilda Banken made intraday technical forecast for EUR/USD pair estimated new support level around 1.08 with stop loss at about 1.15:

"With additional selling on Friday prices broke and closed below the March support line, the floor of the large bear flag. The break now suggests that we have left the seven months long correction having resumed the longer term underlying bear trend. The next key support is 1.0869- 1.0808. Short term there is however a growing risk for at least a minor reaction higher. Lower the stop from 1.1510 to 1.1306."


From the technical point of view - the intra-day price was stopped by 1.0996 support level on the way to the bearish breakout to be continuing, and reversal resistance level is 1.1339.


Sergey Golubev
Moderator
93764
Sergey Golubev 2015.10.26 14:28  

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2015.10.26 14:26

Trading ideas for EUR/USD by UBS Group (based on efxnews article)

UBS Group made a weekly technical forecast making the trading recommendations for the EUR/USD pair related for the trading.

EURUSD:

  • "We are struggling to see value in shorts."
  • "Sell at 1.1060, adding at 1.1085, with a stop at 1.1110."


The price is trading to be below Ichimoku cloud for the crossing 23.6% Fibo support level at 1.1021 from above to below for the bearish trend to be continuing. The nearest bearish target is Fibo support level at 1.0811, and if the price crosses this target so we may see the good bearish breakdown up to 1.04/1.05.

If the price will break 1.1021 support level on close W1 bar so the primary bearish will be continuing up to 1.0811 as the next target.
If the price will break 1.0811 support level on close W1 bar so we may see good breakdown within the primary bearish market condition.
If not so the price will be ranging within the levels.


Cuong Truong
4249
Cuong Truong 2015.10.26 18:28  
Do you honestly believe that?
Sergey Golubev
Moderator
93764
Sergey Golubev 2015.10.28 07:59  

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2015.10.28 07:58

EUR/USD: Levels & Targets - UOB (based on efxnews article)

EURUSD traded sideways as expected, notes UOB Grou:

  • "Market appears to be biding time ahead of FOMC and this pair is expected to stay within 1.1000 and 1.1100 for now. In view of the weak mid-term outlook, the risk appears to be greater on the downside."
  • "The key level on the upside remains at 1.1140 as a break above this level would be a strong indication that we have seen a short-term low."

Sergey Golubev
Moderator
93764
Sergey Golubev 2015.10.29 11:01  

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2015.10.29 11:00

Technical Ideas for EUR/USD by SEB (based on efxnews article)

Skandinaviska Enskilda Banken made intraday technical forecast for EUR/USD pair estimated new support level at 1.0896:

"The rejection from the recently broken flag floor and the break below the support was exactly what was needed to trigger the next part of the decline. Selling will likely take short pause arriving at 1.0896 but probably not for long. The current wave three should stretch out for the 1.05-area before any more profound reaction likely to occur."


From the technical point of view - the intra-day price is on bearish ranging within 1.1095 resistance and 1.0896 support levels. If support level will be broken from above to below so the bearish trend will be continuing, otherwise - ranging.

Sergey Golubev
Moderator
93764
Sergey Golubev 2015.11.01 05:52  

Forum on trading, automated trading systems and testing trading strategies

Press review

Sergey Golubev, 2015.11.01 05:50

Fundamental Analysis by Credit Agricole: what we’re watching (based on efxnews article)

Credit Agricole made a fundamental forecasts related to the price of some pairs movement during some high impacted news events for the week.

Fundmental analysis:

  • USD - "Friday’s US labour data should prove constructive enough to keep the Fed on track with considering higher rates in December. As such, we remain in favour of buying USD on dips."
  • GBP - "Although next week’s inflation report is likely to confirm rising downside risks to growth and inflation, we believe there is little scope of falling BoE rate expectations from the current levels."
  • AUD - "Given more muted price developments and ongoing uncertainty as related to Asia, it cannot be ruled out that the RBA will decide in favour of lower rates. We favour selling AUD rallies."
  • NOK - "We see little scope of the Norges Bank turning more dovish next week. The NOK should remain driven by external factors such as oil prices."

Technical analysis:

  • EUR/USD - the price is located below YR1 Central Pivot for the bearish market condition with the ranging within S1 Pivot at 1.1337 and S2 Pivot at 1.0672 for crossing 1.0962 support level from above to below. if the price breaks S2 Pivot at 1.0672 so we may see good breakdown possibility with 1.0461 as the next bearish target.


InstrumentS2 Pivot
S1 Pivot
Yearly PP
R1 Pivot
EUR/USD 1.0672 1.1337
1.2665
1.3329

To add comments, please log in or register