EURUSD Weekly Summary: Will the rally continue?

EURUSD Weekly Summary: Euro rebounds significantly on Greek rescue package. Will the bullish continue? After the pair dropped and bottomed at 1.3267, the Euro was supported significantly on Friday as EU finally “agreed” on IMF involvement to provide a rescue package for Greece, drove the pair higher, topped at 1.3424 during a volatile  market. The [...]

Daily Forecast for Majors

EURUSD Forecast: The EURUSD dropped significantly on Portugal downgrade yesterday. Price break below 1.3450/35 key support area, confirms technical bearishness targeting 1.3100 this week. Trichet is going to speak today and it makes sense for me that probably he will say something “positive” about the Euro zone or the Euro to prevent further and faster [...]

Daily Forecast for Crosses

EURJPY Forecast The EURJPY had a bullish momentum yesterday, but still unable to break above my range. Although the bias is more to the upside in nearest term, we will need a clear break above 123.00 to cancel the bearish outlook targeting 124.00 area. On the downside, 121.50/00 area should remain a key support level [...]

Daily Forecast for Majors

EURUSD Forecast: The EURUSD attempted to push lower yesterday, bottomed at 1.3463 but further bearish momentum was rejected as price whipsawed to the upside and closed at 1.3566. The bias is neutral in nearest term. I am still expecting further downside pressure after violation of the bullish channel re-testing key support area around 1.3545/35 area [...]

Daily Forecast for Crosses

EURJPY Forecast The EURJPY attempted to push lower yesterday, bottomed at 121.06 but whipsawed to the upside and closed higher at 122.20. This fact leads me to a no trading zone condition with expected range at 121.50/00 – 123.00 as direction is unclear for me. A breakout could trigger further bullish momentum testing 124.00 while [...]

EURUSD Weekly Summary

Re-testing triple bottom formation as bullish momentum wanes, potential target at 1.3100 The EUR/USD failed to continue the bullish momentum this week. After the pair attempted to push higher, topped at 1.3817, price fell on Friday, bottomed at 1.3502 and closed at 1.3528. On daily chart below we can see that the bullish channel which [...]

Daily Forecast for Majors

EURUSD Forecast: The EURUSD had a significant bearish momentum yesterday, broke below the bullish channel indicating potential bullish failure testing 1.3530 area even 1.3450/30 key support level. The bias is bearish in the nearest term however note that the bullish reversal scenario triggered by the triple bottom formation technically still provides technical bullish scenario. Only [...]

Daily Forecast for Crosses

EURJPY Forecast The EURJPY had a significant bearish momentum yesterday, break below the bullish channel indicating potential threat to the bullish scenario. The bias is bearish in the nearest term but we need a consistent move below 123.00 – 122.50 area to confirm the bearish scenario targeting 121.70 even 119.70 area. From a longer term [...]

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