EUR Trading Outlook Archive

There has been no change from yesterday with a strong technical support level at .9060, which is the 76.4% retracement of the rally from .8845 to .9750, still providing the base. The short-term charts remain bearish but seem to be entering a consolidation phase (see… Read more

Technical support level at .9060, which is the 76.4% retracement of the rally from .8845 to .9750, has basically provided support despite a marginal break on Friday. This level is growing in importance now. The short-term charts are also flattening out as bearish momentum wanes… Read more

Technical support level at .9060, which is the 76.4% retracement of the rally from .8845, held on the first test. The short-term charts are showing a possible reversal pattern (see chart) which the retail market in particular tends to trade off. Hourly closes back above… Read more

The next technical support level is at .9060 (see chart) which is the 76.4% retracement of the rally from .8845. If that level breaks then it opens the way for a full retracement to .8845 and possibly to more long-term technical support near .8650. Initial… Read more

The almost vertical fall on the short-term charts has re-commenced and the inability to break back above relatively minor resistance levels (and then fall heavily) shows just how strong the downtrend is. Next support levels come in near .9060 (see chart) which is the 76.4%… Read more

After an almost vertical fall, the hourly chart looks like it’s taking a breather and we could see a modest retracement back towards Friday’s highs and a 38.2% near .9245 (see chart). There is more short-term resistance ahead of there at .9185/00 and support levels… Read more

Short-term momentum remains very bearish and any rallies back towards previous support and Friday’s highs at .9225/50 should be considered a selling opportunity. The move from .8845 to .9755 developed as a 5-wave up-trend and that should be respected, meaning that the 76.4% Fibo at… Read more

The market is currently testing technical support levels near .9225 (see chart) but an inability to close below there would suggest that bearish momentum isn’t overly strong. There are more technical support levels at .9195/00. Resistance levels will start intraday at .9285/90.

Resistance levels held firm near .9455 and the focus is now on downside support levels at .9270 and at .9225 below there (see chart). Intraday resistance levels are reasonably light until .9400. I’m still of the view that the medium-term direction is up.

Initial resistance comes in now at a 38.2% Fibo near .9455 (see chart) but I find technicals in general to be quite untrustworthy in choppy sideways markets. I would still look to longer-term charts for signals but I tend to ignore the short term stuff…. Read more