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EURUsd to retreat once more

Based on the charts I see EurUsd retreating down once more before a rise
If we look at the weekly chart we see that the pair is still to retrace back up from its weekly move down from 1.40
Pair has not touched - even - 38.2% retracement yet at 1.18 area, and should eventually reach 50, or 61.8% (at least)
This is normal retracement for EurUsd - at least 50% before any intended move lower
And if the low is in place - then 1.40 will be taken out eventually..
On the weekly chart we also see a upwar…
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After a move up yesterday - Eur is on the way down now towards 1.11

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pair put in a low just above 1.10 today after strong US data - now trading back up at 1.11 again,
further weakness is to be expected, though

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EURUsd on the way down again

EurUsd seems on its way down again towards support

I will explain why I think this, but first I need to share something
Note: From now on I will be using DiNapoli based indicators when doing my technical analysis
I will explain them now, and refer future questions about my indicators to this post, here goes:
For momentum/market direction I am using DiNapoli based Stochastic and MACD
A combination of these two indicators is used to determine if market is bearish or bullish
i.e. if they both poin…
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AdamFx42 27 Feb

For clarification: the SMA 3x3 is the line that is green when trend is up and red when down,
the SMA 25x5 is blue when trend is up, and red when trend is down

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AdamFx42 27 Feb

For larger view of the charts go here:
https://www.dropbox.com/sh/be10e2p3zongdmw/AADfdHxKgHY_HlSz_1IM0t80a?dl=0

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AdamFx42 29 Feb

Pair moving below 1.09 now for starters - bearish pattern

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Pair is testing 1.08, I expect it to break to the downside soon

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More fireworks on the agenda today

After yesterday market turmoil after the Canadian interest decision we have ECB today
Expected is that a less dovish tone today could help Eur/Usd break above 1.10
After last months speech that sent Eur/Usd up 400 pips traders are expecting a big move in Eur
I personally think that we may be expecting too much from today's decision
Markets are in retreat all over the world
The commodity crunch is hurting investors and it is bound to affect currencies more that now
gl all today
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USD crosses finding good technical support

The downmove in Eur/Usd and Aud/Usd was halted yesterday
Looking over my charts yesterday I noticed strong support levels in Eur/Usd
Aud/Usd showed an excellent setup for buying too
Combinations of important Fibonacci retracement levels coincided with 100/200 SMA crosses,
Stoichastic bullish divergence and pivot support - I provided snapshots of the charts with my positions
Usd was still looking to move up, but I decided to buy at these levels with tight stops
My stops were hit first time, so I …
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EUR/USD next target around 1.13

Eur/Usd is turning bullish on the charts
After the last sharp move up on the weekly chart, the pair looks to have turned from bearish to bullish now
Usually, before a major reversal like this is confirmed we will see a deep retracement before the next leg up
Let me first explain my next target for Eur/Usd with my weekly chart:
From the weekly move down at 1.40 the pair has yet to retrace to 38.2% fibonacci level
Stoch indicator shows a strongly moving bullish upturn that will grow
First 23.6% f…
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AdamFx42 24 Dic

Pair is back on the move up again - like I predicted. Challange of preevious highs is the next target now

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Oeps, back again to 50% retracent now - looks like retracement wasn't over - should be now though, I expect a move up when markets open again

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retracement has now hit 61.8% fibonacci retracement on daily chart, should be up from here again

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price action is following my prediction on the daily chart perfectly

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AdamFx42 15 Ene

Pair ready to challenge 1.10 now - I expect to be above this level next week

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Greeks voting 'oxi' = no, at referendum today

The Greek referendum almost certainly will have a 'no' vote outcome\
With almost all the votes counted now, the 'no's' represent 62% of the votes
It means that Greece has refused any further loans from the IMF and ECB,
and will probably be left to its own devices, sooner or later
Unless some kind of deal is made with Greece soon, they will be out of the Eurozone too
The Eur/Usd is set to open (much) lower (again), like last week when the deal failed
This time though, it will probably not recover…
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Contemplating EUR and USD dollar trades today

Today there are two big data releases: European GDP, and the NFP (US)
This morning German data release - factory orders came in strong
and the Eur/Usd shot up to 1.125 from 1.1210
This indicates the market is willing to buy the pair - strength is not over yet
If the more important data release - European GDP comes in strong, then we will probably break 1.13
The NFP, later today will either bring Eur/Usd down, or strengthen its position
There is a tough battle going on in this pair
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EUR/USD low in place

Eur/Usd low is in place -- it is up from here
Here it is: short and sweet -- Eur/Usd is going up
Draghi has said that selling the Euro now is pointless
We have a double bottom on the daily chart -- 1.05 is support
We see this on my first daily chart
Eur/Usd daily chart 1
The only thing to do is to predict the action upwards
On my second daily chart I have used the lows to calculate the Fibonacci expansion levels
I have also put in the Fibonacci retracement levels of the last big move down
You ca…
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AdamFx42 20 May

Support area - former resistance area on my Eur/Usd chart 2 - is being broken as I write
Price falling below 1.11 now and on target - resistance area chart 2 now back in play

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AdamFx42 22 May

Pair is now coiling around previous support and resistance levels, holding above 1.1050 which is now support (broken previous daily highs)
I hope this level is tested again so I may end up nearer to my target,
but I also hope it holds because a move below this level could take me away from my target again
Due to weakness last week and ECB it does seem unlikely we see a move up

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AdamFx42 22 May

1.1050 support broken and acting as resistance now -- 1.10 is support for now

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AdamFx42 25 May

1.10 broken now, too  -- I guess it will act as resistance if the pair intends to continue lower,
if that does not happen soon we will probably see a break above 1.10 this week
and maybe some sideways action until a direction can be found

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AdamFx42 29 May

Support is now at 61.8% daily fibonacci retracement around 1.085
Pair has bounced from there and is heading back up towards 1.10 at the moment
I hope Eur/Usd will break above 1.10 today to give me a chance

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Draghi on the wire again today

Will Draghi help the Euro out today?
On the economic calender today we have ECB interest rate decision
and ECB's Mario Draghi his speech
Interest rate decision is expected to remain unchanged,
it is up to Draghi to let us know whether bond buying program will continue much longer
If he indicates it is no longer necessary for EU to continue buying bonds much longer
this will be seen as hawkish and Euro bullish/EU economic recovery
A dovish tone will probably send the Euro (much) lower again
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EUR/USD still weak at market open

Eur/Usd is still low as the week starts
If the bottom holds - now 1.08, then we should see some recovery this week
I am long Eur/Usd since friday, and it looks to be holding for now
I have decided to add Eur/Aud and Eur/Nzd longs in time
because the retracement should come in the crosses too
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