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EUR/USD : Objective 1.35...No, the bullish movement is over!
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#1 ⇑ Haut ⇑ 03-01-2013 11:06:24
- Bruno
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EUR/USD : Objective 1.35...No, the bullish movement is over!
The pair EUR/USD has never been able to break the resistance at 1.33. The price has launched yesterday a powerful bearish rally, validating a return below 1.32 (sell signal).
On this movement, the pair has also validated an output of the medium term bullish channel (brown lines on the charts). On the shorter term, the price is moving into a bearish channel (purple segments on the 1h chart).
I advise traders to trade the pair according to 1.32:
Currently valid - only short positions below 1.32. A return below 1.3150 will consolidate our bearish sentiment. A break of 1.31 will boost the downward momentum for a return to 1.3050 or lower level if it is broken.
- Only long positions above 1.32. A break of 1.3250 will give a new buy signal for a new test of the resistance at 1.33
1H chart on EUR/USD
On this movement, the pair has also validated an output of the medium term bullish channel (brown lines on the charts). On the shorter term, the price is moving into a bearish channel (purple segments on the 1h chart).
I advise traders to trade the pair according to 1.32:
Currently valid - only short positions below 1.32. A return below 1.3150 will consolidate our bearish sentiment. A break of 1.31 will boost the downward momentum for a return to 1.3050 or lower level if it is broken.
- Only long positions above 1.32. A break of 1.3250 will give a new buy signal for a new test of the resistance at 1.33
1H chart on EUR/USD
4H chart on EUR/USD
#2 ⇑ Haut ⇑ 04-01-2013 10:33:28
- Bruno
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Re: EUR/USD : Objective 1.35...No, the bullish movement is over!
The pair EUR/USD extended its rally yesterday with strenght on U.S. news.
The price has validated the downward breaks of 1.31 and 1.3050, offering new sell signals.
The bearish rally is held by a medium term bearish slant (orange segment on 1h chart).
I advise traders to trade only short positions as far as the price will be located below 1.31.
A stay below 1.3150 will comfort our bearish sentiment.
A break of 1.30 will give a new sell signal for an extension of the bearish rally towards 1.2950 / 1.2900 (level of a double bottom shaped at the end of 2012, clearly visible in the 4h chart) or lower if these levels are broken.
In case of return above 1.31, i will then advise traders to wait for a breakout of 1.3150 before trading only long positions.
1H chart on EUR/USD
The price has validated the downward breaks of 1.31 and 1.3050, offering new sell signals.
The bearish rally is held by a medium term bearish slant (orange segment on 1h chart).
I advise traders to trade only short positions as far as the price will be located below 1.31.
A stay below 1.3150 will comfort our bearish sentiment.
A break of 1.30 will give a new sell signal for an extension of the bearish rally towards 1.2950 / 1.2900 (level of a double bottom shaped at the end of 2012, clearly visible in the 4h chart) or lower if these levels are broken.
In case of return above 1.31, i will then advise traders to wait for a breakout of 1.3150 before trading only long positions.
1H chart on EUR/USD
4H chart on EUR/USD
#3 ⇑ Haut ⇑ 07-01-2013 11:19:44
- Bruno
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Re: EUR/USD : Objective 1.35...No, the bullish movement is over!
The pair EU /USD has made a pullback on Friday on the resistance at 1.3090. On this pullback, the price has validated a break of its bearish slant (orange segment on the 1h chart) and has plunged below 1.3050 last night. The medium-term trend is still held by different downward slants (blue segments on the 1h chart).
I advise traders to trade only short positions as far as the price will be located below 1.31.
A stay below 1.3050 will comfort our bearish sentiment.
A break of 1.30 will give a new sell signal for an extension of the bearish rally towards 1.2950 / 1.2900 (level of a double bottom shaped at the end of 2012, clearly visible in the 4h chart) or lower if these levels are broken.
In case of return above 1.31, i will then advise traders to wait for a breakout of 1.3150 before trading only long positions.
1H chart on EUR/USD
I advise traders to trade only short positions as far as the price will be located below 1.31.
A stay below 1.3050 will comfort our bearish sentiment.
A break of 1.30 will give a new sell signal for an extension of the bearish rally towards 1.2950 / 1.2900 (level of a double bottom shaped at the end of 2012, clearly visible in the 4h chart) or lower if these levels are broken.
In case of return above 1.31, i will then advise traders to wait for a breakout of 1.3150 before trading only long positions.
1H chart on EUR/USD
4H chart on EUR/USD
#4 ⇑ Haut ⇑ 08-01-2013 10:56:32
- Bruno
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Re: EUR/USD : Objective 1.35...No, the bullish movement is over!
The pair EUR/USD has validated yesterday a return above 1.31 on a correction of the last bearish rally. With a Fibonacci retracement of that rally (from 1.32995 to 1.29975), we see that the price is moving on the 38.20% fibonacci retracement (plots not shown on the graphs for the sake of space). The price is now above the upper band of its short-term bearish channel (purple segments on the 1h chart). This line will be now used as a support.
I advise traders to remain flat on the pair between 1.31 and 1.3150. I will advise traders to wait an output of the range to take position :
- Short postions if a downward break of 1.31 occur. Be careful, 1.3090 could give suport on the short term and allow a fake breakout. A break of 1.3050 will give a new sell signal for a return on the support at 1.30. (NB: do not forget the minor supports at 1.3075 and 1.3025).
- Long positions of an upward break of 1.3150 occur. Breaks of 1.3175/1.32 will offer new buy signals for an extension of the correction towards 1.3250/1.33.
1H chart on EUR/USD
I advise traders to remain flat on the pair between 1.31 and 1.3150. I will advise traders to wait an output of the range to take position :
- Short postions if a downward break of 1.31 occur. Be careful, 1.3090 could give suport on the short term and allow a fake breakout. A break of 1.3050 will give a new sell signal for a return on the support at 1.30. (NB: do not forget the minor supports at 1.3075 and 1.3025).
- Long positions of an upward break of 1.3150 occur. Breaks of 1.3175/1.32 will offer new buy signals for an extension of the correction towards 1.3250/1.33.
1H chart on EUR/USD
4H chart on EUR/USD
#5 ⇑ Haut ⇑ 10-01-2013 11:03:44
- Bruno
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Re: EUR/USD : Objective 1.35...No, the bullish movement is over!
The pair EUR/USD continues to evolve without a strong short-term trend, leading by the resistance line of the medium term bearish channel (purple segments on the 1h chart).
Since the last follow-up analysis, the price has validated a return below 1.31, giving a sell signal.
The pair is back on the Fibonacci retracement 23.60% as resistance.
I advise traders to trade the pair outside the range 1.31 / 1.3150.
Currently valid - Only short positions below 1.31. A stay below the Fibonacci retracement 23.60%(1.3069) will reinforce the bearish sentiment. A break of 1.3050 will give a new sell signal for a return on the support at 1.30. (NB: do not forget the minor support located at 1.3025).
- Only Long positions above 1.3150. The upward break of 1.32 will offer a new buy signal and allow a return on the highest at 1.3250 and 1.33 in extension.
1H chart on EUR/USD
Since the last follow-up analysis, the price has validated a return below 1.31, giving a sell signal.
The pair is back on the Fibonacci retracement 23.60% as resistance.
I advise traders to trade the pair outside the range 1.31 / 1.3150.
Currently valid - Only short positions below 1.31. A stay below the Fibonacci retracement 23.60%(1.3069) will reinforce the bearish sentiment. A break of 1.3050 will give a new sell signal for a return on the support at 1.30. (NB: do not forget the minor support located at 1.3025).
- Only Long positions above 1.3150. The upward break of 1.32 will offer a new buy signal and allow a return on the highest at 1.3250 and 1.33 in extension.
1H chart on EUR/USD
4H chart on EUR/USD
Index » Forex-Tribe Daily Technical analysis »
EUR/USD : Objective 1.35...No, the bullish movement is over!
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