EUR/USD

It is Daghi tomorrow along with US jobless claims, not to mention the uproar if BOE goes 9-0. We could see the 1.13, or we could see the return down to 1.10 levels.

The single currency recorded considerable profits on Wednesday session and thus managed to overcome its recent upwards range. The euro added nearly 200 pips to a closing price of 1.1102. The daily extreme values were reached respectively at 1.1137 over three-month high and 1.0903. The index of relative strength highlights the dominance of bulls as immediate goal appears to be 1.1105.

Yesterday the EURUSD rallied again with a wide range and managed to close near the high of the day, furthermore closed above the previous day range, suggesting a strong bullish momentum.

The pair continues to close above the 10 and the 50-day moving averages that are acting as dynamic support, and closed for the first time in three months above the 200-day moving average.

The key levels to watch are: The daily resistance at 1.1236, the daily resistance at 1.1097, the 200-day moving average at 1.1028 (support), the 10-day moving average at 1.0874 (support) and the 50-day moving average at 1.0893 (support).

On January 6. I posted these signals off the weekly chart.

Weekly chart:
The weekly chart shows a price consolidation with currently 6 bars.
As I have written before, the 6th bar in consolidation is the most difficult to trade and should be avoided.
There are 3 legitimate MAJOR entry signals visible.
Buy-stop at the high from last week (1.0991 on our chart) plus 1 pip (ASK price)
Buy-stop at the high from 3 weeks ago (1.1058 on our chart) plus 1 pip (ASK price)

The low of 5 weeks ago is also a legitimate MAJOR entry signal as it is a down-hook. (1.0515 minus 1 pip BID price)
-------------------------------------------------------------------------------------
Either one of the buy-stop entries would have worked and currently are about 200 pips plus.
If you read my entire posting from January 6. you will see that there was also a buy-stop entry suggested off the monthly chart.
It was a minor entry signal, but worked as one can see.

Now it is just a matter of managing the SL properly to maximize the trade's profit.

I also mentioned many times, that a price consolidation cannot consist of more than 10 bars.
This weeks bar is Nr. 10 and therefore the break could be traded legitimately.

The suggested sell-stop entry was never reached.

Major trade entry signals have a very high success rate, especially when using long-term timeframes, like daily, weekly and monthly charts. They are easy to trade, as there is plenty of time to place the trade.

A higher risk-factor can also be used with majors on long-term charts.

The simplest way to trade these trades is, to place the orders and just wait.
They are much more lucrative and require very little maintenance as compared to intraday charts, which are very time consuming to trade and at the end of the day there is hardly ever any monetary reward.

Eur/Usd just broke the psychological level at 1.1200, it seems nothing to stop the pair rising towards next handle around 1.1500.

The pair retraced back below 1.1200 and will probably continue falling towards 1.1160, but that move to the downside is likely only temporary.

The EUR/USD boost higher today above the daily resistance at 1.1192 and in my opinion it will climbs to the 1.1291.

Things look pretty crap for USD,Draghi will have to talk down the Euro next week!

Another good bullish day on EUR/USD but I guess there will be a pause here, on the 4 hours chart the market formed a doji which makes me cautious.

Yesterday the EURUSD continued the rallied but with a narrow range and managed to close near the high of the day, furthermore closed above the previous day high, suggesting a strong bullish momentum.

However it made a pause on mid-term resistance at 1.1236 possibly waiting for today’s nonfarm payrolls number.
The pair continues to close above the 10, 50 and the 200-day moving averages that are acting as dynamic support.

The key levels to watch are: The daily resistances at 1.1556, other daily resistance at 1.1460, daily support at 1.1097, the 200-day moving average at 1.1028 (support), the 10-day moving average at 1.0965 (support) and the 50-day moving average at 1.0910 (support).

Next big mover is the NFP tomorrow. Don't think BoJ or ECB is particularly happy with the weaker dollar.

A weak NFP such as in october (about 130K) might because it to rally upwards of 1.15.

The NFP pushed EUR/USD down and it will probably continue falling towards 1.1100. The question is whether this is the end of the move to the upside.

The US job data killed the EUR/USD elevation but it still moving over the 1.1119 support today.

It is likely not over, but one might write off the extreme upward movements. Unless there are some big surprises in the upcoming data from either US, Japan or Europe. Eyes will be on Yellen the 10. february, and next weeks jobless claims. Then we have eurozone GDP and US retail sales on Friday.

Lol, so, it did not go as I was thinking hence I am flat on eurusd. it is basically ranging but this can be a large move.

There is nothing in front of the pair to stop the price climbing MA and resistance levels are broken.

@sherifFares yes there is the European economy is still going through QE and a strong euro hurts their economy it's not what Draghi is looking for, they will most definitely implement further QE measures.

It seems like the pair is far from parity now.