EUR/USD

victoriajensen posted:
Indeed, EUR/USD moved to the upside again today and appears that the correction continues. The likely target is, I think, 1.2570.

Between this week's activities and current positions I'm leaning toward bullish positions for now, but that can change any moment.

The year end we will see a lot of unexpected moves

There is a gap, continue to go up.

This may mean the correction has more room to run.

EURUSD hiked higher during the course of Friday’s session, but struggled at the 1.25 handle again. The pair closed near the high of the day and its range is within the previous day range creating an inside day.

A daily close above the 50-day moving average can change the mid-term outlook from bearish to bullish. A head fake on the 50-day moving average can offer a great selling opportunity as the market then should drive down to the 1.2250 level.

EUR/USD formed a marubozu candlestick on the daily filter chart and, as expected, started descending again. That said, I am not so sure whether that new movement to the downside is part of the correction or the overall bearish trend and considering how sluggishly the market is moving at this time of the year it may not become clear until January.

EUR/USD moved high after finding support on the moving average of 50 periods and break above the falling trend line.
However, the movement stopped by the moving average of 200 periods.
The short-term signs indicate the possibility of a downward movement with the daily chart reveal maximum and minimum lower below the moving averages of 50 and 200 days.
R3 - 1.26001
R2 - 1.25425
R1 - 1.24988
Daily Std. Pivot - 1.24412
S1 - 1.23975
S2 - 1.23399
S3 - 1.22962
https://bewayopa.wordpress.com/

The pair is in the bearish trend and it will continue till the end of the year i guess .

well 1.2480 proved to be a strong resistance point price keep rebounding from there. In my opinion going short now will not be the best option. I will wait either breaking under yesterday candle or breaking the resistance line.

could have hit the bottom acc to the monthly chart ascending triangle ,50/50 now on will it goes up or down ? medium trend

sherifFares posted:
well 1.2480 proved to be a strong resistance point price keep rebounding from there. In my opinion going short now will not be the best option. I will wait either breaking under yesterday candle or breaking the resistance line.

I think that's a good call.

The Dollar is likely to be driven by the FOMC this week.

short term seems to be a buy

The past several days has seen EURUSD enter a sideways consolidation pattern between 1.25-1.24, perhaps before the all-important US CPI data out today, which is expected to heavily influence the Fed’s interest rate timeline.
As a reminder, high inflation will lead to expectations of an early 2015 interest rate raise, while low or below expected inflation numbers will push back rate hike expectations. An interest rate hike is generally seen as a positive for the currency with the higher rate.

trade reference EUR/USD
hooks, 4 hr. chart
As I posted last week, hooks on the 4 hr. chart can be traded to the 'last full correction' high on the daily chart.
The price of the LFC is 1.2530
The last hook on the 4 hr. chart to place a buy-stop was 1.24842

The LFC high is also the highest point of the last 3 weeks
The high of the last 3 weeks has not been violated since June 2014
which is also a crucial price-point.

EUR/USD moved high after finding support near the 1.2406 line (S1). However, the movement has been overcome by the moving average of 200 times, which proved to be a good resistance to the recent price action.
Would expect a break above the moving average of 200 periods trigger more increases extensions.
On the daily chart, there are maximum and minimum lower, below the moving averages 50 and 200 days, and this keeps the downward trend overall.
The positive difference between the daily momentum studies and the price is still intact, indicating that the downward trend in long-term is losing momentum, allowing the EUR negotiate corrective way up.
R3 - 1.25350
R2 - 1.25067
R1 - 1.24708
Daily Std. Pivot - 1.24425
S1 - 1.24066
S2 - 1.23783
S3 - 1.23424
https://bewayopa.wordpress.com/

Despite the marubozu candlestick on the daily filter chart EUR/USD continued on its way up until it reached the strong resistance at 1.2570. In case it does break above that resistance level I think it will likely reach target 1.2700.

Today was a good day as soon as the price broke 1.2480. my position got target 50 pips in less than 30 minutes. now I will wait a break over 1.2575 which is a strong resistance or under 1.2420

Be careful of FOMC tomorrow. Dollar most likely will go up vs EUR.
EDIT: Also, the US Stock market is rallying, especially the energy stocks.