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Thread: EUR/USD Daily Technical Analysis

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    EUR/USD Daily Technical Analysis

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    Date: 15th June 2011Currency Pair: EUR/USDPivot Point: 1.4380Resistance Levels: 1.4940, 1.4696, 1.4651, 1.4497, 1.4320, 1.4298, 1.4047, 1.3969

    Comments:The pair has hit the resistance level of 1.4696 and hit a low of 1.4320, the 50% fibo level. Price rallied off 1.4320 up to 1.4497, just shy of the 50% fibonnaci level and resumed it's fall downwards. The pair looks bearish. The stochastics are mixed; MACD curving down. The pair's making lower highs while testing the support; Could break through to the supports. Long term 1.4100 is the target long term. A break of 1.43 could call on a test of 1.4200, 1.41 and possibly 1.40.
    Risk Warning: Terms of Use / Terms of Service
    Important News Events for the Pair:
    EURO
    Industrial Production m/m

    USD
    Core CPI m/m
    CPI m/m
    Empire State Manufacturing Index
    TIC Long-Term Purchases
    Capacity Utilization Rate
    Industrial Production m/m
    Crude Oil Inventories


    Past TrendsForecasted Trends
    Hourly Trend (past):
    One Week Forecast: 1.4350

    Daily Trend (past):
    One Month Forecast: 1.4350
    Weekly Trend (past):
    One Quarter Forecast:1.4100

    Chart Analysis






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  3. #3
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    Overview
    Date: 16th June 2011Currency Pair: EUR/USDPivot Point: 1.4215Resistance Levels: 1.4940, 1.4696, 1.4651, 1.4497, 1.4320, 1.4298, 1.4047, 1.3969

    Comments:The pair has broken through the long term bullish trend line and has turned bearish. This trend line which acted as support could possibly now act as a resistance. The stochastics are leaning towards oversold. The trade idea is to sell rallies when they stall. 1.4000 is the target long term. Possible strategy, short at 1.4205, target 1.4070 and 1.4020
    Risk Warning: Terms of Use / Terms of Service
    Important News Events for the Pair:
    EURO
    ECB Monthly Bulletin
    CPI y/y
    Core CPI y/y

    USD
    Building Permits
    Unemployment Claims
    Current Account
    Housing Starts
    Philly Fed Manufacturing Index
    FOMC Member Fisher Speaks



    Past TrendsForecasted Trends
    Hourly Trend (past):
    One Week Forecast: 1.4350

    Daily Trend (past):
    One Month Forecast: 1.4350
    Weekly Trend (past):
    One Quarter Forecast:1.4100

    Chart Analysis






    Last edited by FatCatDaily; 06-16-2011 at 08:30 AM.
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    Date: 17th June 2011Currency Pair: EUR/USDPivot Point: 1.4215Resistance Levels: 1.4940, 1.4696, 1.4651, 1.4497, 1.4320, 1.4298, 1.4047, 1.3969

    Comments:The pair has broken through the long term bullish trend line and has turned bearish. This trend line which acted as support could possibly now act as a resistance. The stochastics are leaning towards oversold. The trade idea is to sell rallies when they stall. 1.4000 is the target long term. Possible strategy, short at 1.4205, target 1.4070 and 1.4020
    Risk Warning: Terms of Use / Terms of Service
    Important News Events for the Pair:
    EURO
    ECB President Trichet Speaks
    USD
    Prelim UoM Consumer Sentiment


    Past TrendsForecasted Trends
    Hourly Trend (past):
    One Week Forecast: 1.4350

    Daily Trend (past):
    One Month Forecast: 1.4350
    Weekly Trend (past):
    One Quarter Forecast:1.4100

    Chart Analysis






    Last edited by FatCatDaily; 06-17-2011 at 08:44 AM.
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    Date:20th June 2011Currency Pair: EUR/USDPivot Point: 1.4180Resistance Levels: 1.4940, 1.4696, 1.4651, 1.4497, 1.4320, 1.4298, 1.4047, 1.3969

    Comments:

    Risk Warning: Terms of Use / Terms of Service
    Important News Events for the Pair:
    EURO
    German PPI m/m
    Current Account

    ECOFIN Meetings

    USD
    -


    Past TrendsForecasted Trends
    Hourly Trend (past):
    One Week Forecast: 1.4050

    Daily Trend (past):
    One Month Forecast: 1.4000
    Weekly Trend (past):
    One Quarter Forecast:1.3800

    Chart Analysis






    Last edited by FatCatDaily; 06-20-2011 at 11:43 AM.
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    Date:21st June 2011Currency Pair: EUR/USDPivot Point: 1.4290Resistance Levels: 1.4940, 1.4696, 1.4651, 1.4497, 1.4320, 1.4298, 1.4047, 1.3969

    Comments:The pair has been in a recent hourly uptrend. We still hold our bearish view on the pair and believe the current price movement is just a consolidation on an overall downwards trend. The stochastics are edging towards overbought. The trade idea is to sell rallies when they stall. 1.4000 is the target long term.

    The currenct debt crisis in the Euro is weighing heavily on the pair with a lot of dissagreement within the Eurozone on how to deal with Greece and the other countries which are in trouble; Ireland and Portugal. There is a Greek Vote of Confidence scheduled this evening for 21:00 GMT which all eyes will be on so make sure you take this into consideration when making your trades. The hope of a rate hike is a major factor which could possibly raise the EUR/USD, however, in the long term it looks like the Euro could be in for a rough time. We expect to see the 1.3*** within the coming months.

    The next major technical resistance is the 50% fibonacci level which lies at 1.4395 (1.4700/1.4080).

    Do not be surprised if the EUR/USD ranges.

    Fitch's comments warning the US rating will be turned to negative if their debt ceiling is not raised by Aug 2nd; US would be in a restricted default if the August 15th coupon payment isn't met.

    China's foreign minister has said that China is “willing to help European countries realise economic growth in a stable manner".

    Risk Warning: Terms of Use / Terms of Service
    Important News Events for the Pair:
    EURO
    German ZEW Economic Sentiment

    ZEW Economic Sentiment

    USD
    Existing Home Sales


    Past TrendsForecasted Trends
    Hourly Trend (past):
    One Week Forecast: 1.4050

    Daily Trend (past):
    One Month Forecast: 1.4000
    Weekly Trend (past):
    One Quarter Forecast:1.3800

    Chart Analysis






    Last edited by FatCatDaily; 06-22-2011 at 08:35 AM.
    Please read the Terms and Conditions - Forex trading is risky: You could lose more than your initial deposit!

  7. #7
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    Date:22nd June 2011Currency Pair: EUR/USDPivot Point: 1.4325Resistance Levels: 1.4940, 1.4696, 1.4651, 1.4497, 1.4443, 1.4320, 1.4298, 1.4047, 1.3969

    Comments:The pair has been in a recent hourly uptrend. We still hold our bearish view on the pair and believe the current price movement is just a consolidation on an overall downwards trend. The stochastics are edging towards overbought. The trade idea is to sell rallies when they stall. 1.4000 is the target long term.

    The currenct debt crisis in the Euro is weighing heavily on the pair with a lot of dissagreement within the Eurozone on how to deal with Greece and the other countries which are in trouble; Ireland and Portugal.

    The Greek vote of confidence last night has thus far just caused erratic movements in the currency pair. It's all a mess. There are some more important talks and votes coming in the coming weeks for Greece which is critical for European stability. Europe is in it's worst economic state since World War 2.

    The hope of a rate hike is a major factor which could possibly raise the EUR/USD, however, in the long term it looks like the Euro could be in for a rough time. We expect to see the 1.3*** within the coming months.

    The next major technical resistance is the 55 daily moving average which lies around 1.4415. There is bearish divergence on the hourly MACD suggesting the bullish move could be running out of steam.

    Risk Warning: Terms of Use / Terms of Service
    Important News Events for the Pair:
    EURO
    Industrial New Orders m/m
    USD
    OFHEO HPI m/m
    Crude Oil Inventories

    FOMC Statement

    Federal Funds Rate

    FOMC Press Conference



    Past TrendsForecasted Trends
    Hourly Trend (past):
    One Week Forecast: 1.4050

    Daily Trend (past):
    One Month Forecast: 1.4000
    Weekly Trend (past):
    One Quarter Forecast:1.3800

    Chart Analysis






    Last edited by FatCatDaily; 06-22-2011 at 08:32 AM.
    Please read the Terms and Conditions - Forex trading is risky: You could lose more than your initial deposit!

  8. #8
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    Date:23rd June 2011Currency Pair: EUR/USDPivot Point: 1.4360Resistance Levels: 1.4940, 1.4696, 1.4651, 1.4497, 1.4443, 1.4320, 1.4298, 1.4047, 1.3969

    Comments:The pair has been in a recent hourly down trend. We still hold our bearish view on the pair and believe the current price movement is just a consolidation on an overall downwards trend. The stochastics are mixed; no clear trading opportunities from those. The trade idea is to sell rallies when they stall. 1.4000 is the target long term. Maybe short positions at 1.4350 with 1.41010 the target.

    The currenct debt crisis in the Euro is weighing heavily on the pair with a lot of dissagreement within the Eurozone on how to deal with Greece and the other countries which are in trouble; Ireland and Portugal. Focus was on the FED last night with the FED's chairman's second ever post meeting press conference. There was caution about the economy, pointing out that inflation had risen. QE3 seemed like a distant prospect. Dollar strengthened against most currencies.

    The hope of a rate hike is a major factor which could possibly raise the EUR/USD, however, in the long term it looks like the Euro could be in for a rough time. We expect to see the 1.3*** within the coming months.

    Poor French PMI data has caused stop to be triggered at 1.4280. Lot's of news today; keep your eyes on it.

    Update: Finland Prime Minister says there is a serious risk of financial crisis and that the possibility of recession in Europe is very high.

    Risk Warning: Terms of Use / Terms of Service
    Important News Events for the Pair:
    EURO
    French Flash Manufacturing PMI
    French Flash Services PMI
    German Flash Manufacturing PMI
    German Flash Services PMI
    Flash Manufacturing PMI
    Flash Services PMI
    EU Economic Summit
    Belgium NBB Business Climate
    ECB President Trichet Speaks
    USD
    Unemployment Claims
    New Home Sales
    Natural Gas Storage



    Past TrendsForecasted Trends
    Hourly Trend (past):
    One Week Forecast: 1.4050

    Daily Trend (past):
    One Month Forecast: 1.4000
    Weekly Trend (past):
    One Quarter Forecast:1.3800

    Chart Analysis






    Please read the Terms and Conditions - Forex trading is risky: You could lose more than your initial deposit!

  9. #9
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    Date:24th June 2011Currency Pair: EUR/USDPivot Point: 1.4190Resistance Levels: 1.4940, 1.4696, 1.4651, 1.4497, 1.4443, 1.4320, 1.4298, 1.4047, 1.3969

    Comments:The pair has been in a recent hourly down trend. There has been a retracement / rally from yesterdays lows to close to the 50% Fibonacci level. We still hold our bearish view long term on the pair and believe the current price movement is just a consolidation on an overall downwards trend. The stochastics are mixed; no clear trading opportunities from those. The trade idea is to sell rallies when they stall. 1.4000 is the target long term. Maybe short positions at 1.4350 with 1.41010 the target.

    The current debt crisis in the Euro is weighing heavily on the pair with a lot of dissagreement within the Eurozone on how to deal with Greece and the other countries which are in trouble; Ireland and Portugal. Focus was on the FED last night with the FED's chairman's second ever post meeting press conference. There was caution about the economy, pointing out that inflation had risen. QE3 seemed like a distant prospect. Dollar strengthened against most currencies.

    The EU has appointed Draghi ECB president until 2019.

    The hope of a rate hike is a major factor which could possibly raise the EUR/USD, however, in the long term it looks like the Euro could be in for a rough time. We expect to see the 1.3*** within the coming months.
    Finland Prime Minister says there is a serious risk of financial crisis and that the possibility of recession in Europe is very high.

    Risk Warning: Terms of Use / Terms of Service
    Important News Events for the Pair:
    EURO
    German Ifo Business Climate
    Italian Retail Sales m/m
    EU Economic Summit
    USD
    Core Durable Goods Orders m/m
    Durable Goods Orders m/m
    Final GDP q/q



    Past TrendsForecasted Trends
    Hourly Trend (past):
    One Week Forecast: 1.4050

    Daily Trend (past):
    One Month Forecast: 1.4000
    Weekly Trend (past):
    One Quarter Forecast:1.3800

    Chart Analysis






    Last edited by FatCatDaily; 06-24-2011 at 08:30 AM.
    Please read the Terms and Conditions - Forex trading is risky: You could lose more than your initial deposit!

  10. #10
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    Overview
    Date:27th June 2011Currency Pair: EUR/USDPivot Point: 1.4200Resistance Levels: 1.4940, 1.4696, 1.4651, 1.4497, 1.4443, 1.4320, 1.4298, 1.4047, 1.3969

    Comments:The pair has been in a recent hourly down trend.

    We still hold our bearish view long term on the pair and believe the current price movement is just a consolidation on an overall downwards trend. The stochastics are mixed; no clear trading opportunities from those. The trade idea is to sell rallies when they stall. 1.4000 is the target long term. Maybe short positions at 1.4190 with 1.41010 the target.

    All eyes are on what the Greek parliament votes on this week; this will ultimately set the tone for the Euro. The price of Gold is also falling which will strengthen the USD.

    The current debt crisis in the Euro is weighing heavily on the pair with a lot of dissagreement within the Eurozone on how to deal with Greece and the other countries which are in trouble; Ireland and Portugal.

    The hope of a rate hike is a major factor which could possibly raise the EUR/USD, however, in the long term it looks like the Euro could be in for a rough time. We expect to see the 1.3*** within the coming months. The word 'vigilant' has been used many times which usually suggest they are going to increase interest rates very soon.

    Finland Prime Minister says there is a serious risk of financial crisis and that the possibility of recession in Europe is very high.

    Risk Warning: Terms of Use / Terms of Service
    Important News Events for the Pair:
    EURO


    USD
    Core PCE Price Index m/m
    Personal Spending m/m
    Personal Income m/m
    FOMC Member Kocherlakota Speaks



    Past TrendsForecasted Trends
    Hourly Trend (past):
    One Week Forecast: 1.4100

    Daily Trend (past):
    One Month Forecast: 1.4000
    Weekly Trend (past):
    One Quarter Forecast:1.3800

    Chart Analysis






    Please read the Terms and Conditions - Forex trading is risky: You could lose more than your initial deposit!

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