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EUR/USD Emerging Signal

admin — Mon, 26 Sep 2011 21:39:05 +0000

The pair is still biased to the downside, where consolidation below 1.3665 supports the bearishness that could lead the pair to test 1.3320 and maybe towards 1.3110. Our expectations are based on the breach of 61.8% Fibonacci correction as shown above; in addition to the possible harmonic formation that is likely a Bat pattern which will be completed at 88.6% Fibonacci correction of CD leg at 1.3110. In result, we expect the downside movement to extend this week.

The trading range for this week is among the major support at 1.3110 and the major resistance at 1.3840

The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

Support: 1.3395, 1.3320, 1.3250, 1.3180, 1.3110
Resistance: 1.3480, 1.3530, 1.3600, 1.3665, 1.3720

Recommendation Based on the charts and explanations above, we recommend selling the pair around 1.3480, and take profit in stages at (1.3320 and 1.3110) and stop loss with a daily closing above 1.3600 might be appropriate.

EUR/USD Emerging Signal

admin — Thu, 22 Sep 2011 22:18:06 +0000

After the pair ideally respected yesterday’s scenario and reached the awaited targets, the euro declined strongly affected by the FOMC decision to return to trade within the main descending channel shown above, in addition to breaching the critical support at 1.3590. Those factors alongside trading below the MA 50 make us favor an intraday downside move today targeting mainly 1.3360; breaching areas of 1.3590 might delay the awaited targets while breaching 1.3700 might revive the upside move once again.

The trading range for today is among the major support at 1.3320 and the major resistance at 1.3700.

The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

Support: 1.3530, 1.3480, 1.3435, 1.3360, 1.3320
Resistance: 1.3590, 1.3645, 1.3700, 1.3760, 1.3805

Recommendation Based on the charts and explanations above our opinion is selling the pair around 1.3590 targeting 1.3360 and stop loss with hourly closing above 1.3700 might be appropriate

EUR/USD Emerging Signal

admin — Wed, 21 Sep 2011 23:38:39 +0000

We negated our negative expectations and turned positive in our previous report, where we expected the positivity to return after the pair reached around 1.3665 again, which supported the pair’s positive momentum. Currently, the pair is trading positively above the Simple Moving Average 20, in attempts to breach 38.2% Fibonacci correction. A breach of this correction at 1.3720 could support the pair to extend the upside move, despite the fact that Stochastic is within overbought areas, where consolidation above 1.3665 support our positive expectations to remain valid.

The trading range for today is among the major support at 1.3320 and the major resistance at 1.3900

The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

Support: 1.3680, 1.3665, 1.3600, 1.3570, 1.3530
Resistance: 1.3760, 1.3805, 1.3860, 1.3880, 1.3900

Recommendation Based on the charts and explanations above, we recommend buying the pair around 1.3680, and take profit in stages at (1.3760 and 1.3800) and stop loss below 1.3590 might be appropriate

EUR/USD Emerging Signal

admin — Tue, 20 Sep 2011 02:01:32 +0000

The pair declined sharply with a bearish opening gap, which could be covered later, however, this gap did not negate the formation of the suggested CD leg of the harmonic structure, which suggests more downside movement. Stochastic provided a negative crossover, while RSI is turning positive; where all those signs together contradict each other, in addition to the need to cover the opening gap and our belief that the pair is still forming the CD leg of the bearish harmonic structure. Therefore, we remain neutral in our weekly report, awaiting more confirmations.

The trading range for this week is among the major support at 1.3110 and the major resistance at 1.4155

The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

Support: 1.3600, 1.3530, 1.3435, 1.3395, 1.3320
Resistance: 1.3720, 1.3765, 1.3840, 1.3880, 1.3910

Recommendation Based on the charts and explanations above we remain neutral awaiting more confirmations

EUR/USD Emerging Signal

admin — Wed, 14 Sep 2011 19:12:38 +0000

The pair continues to fluctuate around 61.8% Fibonacci correction at 1.3665; however, negatively biased over intraday basis. Therefore, we expect an intraday downside movement today targeting 1.3320 primarily. The positivity seen on momentum indicators weakened the bearish wave and triggered heavy fluctuations around the current levels.

The trading range for today is among the major support at 1.3320 and the major resistance at 1.3910

The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

Support: 1.3600, 1.3580, 1.3530, 1.3480, 1.3435
Resistance: 1.3665, 1.3710, 1.3775, 1.3800, 1.3840

Recommendation Based on the charts and explanations above we recommend selling the pair below 1.3665, and take profit in stages at (1.3530 and 1.3435) and stop loss with 4-hour closing above 1.3840 might be appropriate.

EUR/USD Emerging Signal

admin — Tue, 13 Sep 2011 18:48:54 +0000

The pair inclined to cover the opening gap seen yesterday supported by momentum indicators that traded in oversold areas. In fact, the downside movement is still valid and could continue towards 1.3320-15, where a breach of which could trigger a test of 1.3110, as stability below 1.3910 supported the possibility of forming a harmonic structure, however, we will discuss the pattern later in case the pair completes the formation. In general, consolidation below 1.3775 could support the pair to extend the downside movement today, while any trading below 1.3910 should keep the negativity valid for the coming period.

The trading range for today is among the major support at 1.3320 and the major resistance at 1.3910.

The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

Support: 1.3665, 1.3600, 1.3580, 1.3530, 1.3435
Resistance: 1.3710, 1.3775, 1.3800, 1.3840, 1.3880

Recommendation Based on the charts and explanations above we recommend selling the pair below 1.3710, and take profit in stages at (1.3530 and 1.3435) and stop loss with 4-hour closing above 1.3840 might be appropriate.

EUR/USD Emerging Signal

admin — Mon, 12 Sep 2011 21:46:33 +0000

The pair’s upside move failed with the breach of 1.3910, as we can see a possible harmonic Bat Pattern. This suggested pattern should be completed at 1.3110, where this level represents 88.6% Fibonacci correction of the XA leg of the suggested pattern, however, 78.6% Fibonacci correction represents a barrier facing the pair’s downside trend. A breach of 61.8% Fibonacci correction of the XA leg at 1.3665 proposes completing the suggested pattern, therefore, the downside movement could continue towards the PRZ as long as the pair is stable below 1.3910 and preferably below 1.3665.

The trading range for this week is among the major support at 1.3110 and the major resistance at 1.3910.

The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

Support: 1.3530, 1.3435, 1.3395, 1.3320, 1.3250
Resistance: 1.3600, 1.3665, 1.3720, 1.3765, 1.3880

Recommendation Based on the charts and explanations above we recommend selling the pair below 1.3665, and take profit in stages at (1.3320 and 1.3110) and stop loss with daily closing above 1.3840 might be appropriate.

EUR/USD Emerging Signal

admin — Wed, 07 Sep 2011 17:16:25 +0000

The classic support levels mentioned in our previous report around 1.3970 stopped the pair’s negative momentum, and supported the pair to rebound to the upside. Consolidation above this level could support the pair to enter another upside wave, while stability above the exponential moving average 200 at 1.4110 should confirm our positive outlook. A breach of 1.3910 and stability below it could negate our expectations for today, where the pair could extend the downside movement.

The trading range for today is among the major support at 1.3845 and the major resistance at 1.4365

The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.3910.

Support: 1.4025, 1.3970, 1.3910, 1.3880, 1.3845
Resistance: 1.4110, 1.4155, 1.4250, 1.4255, 1.4300

Recommendation Based on the charts and explanations above we recommend buying the pair around 1.4025, and take profit in stages at (1.4150 and 1.4255) and stop loss with 4-hour closing below 1.3910 might be appropriate

EUR/USD Emerging Signal

admin — Thu, 01 Sep 2011 14:04:11 +0000

The decline seen yesterday, led the pair to breach the ascending channel’s main support, which lifted the pair from (D) point of the Bat pattern reaching the first extended target at 127.2% of the CD leg of the harmonic structure. Furthermore, the pair trades today around 78.6% Fibonacci retracement of the CD leg at 1.4365; however the pair didn’t stabilize below this level. Stochastic attempts to provide positive crossover, but ADX confirms that a breach of the ascending main support suggests a downside movement. Therefore, we remain neutral today, awaiting more confirmations regarding the bullish Bat pattern’s effect.

The trading range for today is among the major support at 1.4255 and the major resistance at 1.4565

The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

Support: 1.4365, 1.4320, 1.4300, 1.4205, 1.4255
Resistance: 1.4410, 1.4455, 1.4490, 1.4535, 1.4565

Recommendation Based on the charts and explanations above we remain neutral awaiting more confirmation

EUR/USD Emerging Signal

admin — Thu, 01 Sep 2011 00:27:37 +0000

The sharp decline seen yesterday was unable to provide 4-hour closing below 1.4410, which could support the pair to attempt reaching 127.2% Fibonacci retracement of the CD leg of the bullish Bat harmonic pattern. The positivity could return today, as stability above 1.4455, which represents the top of (C) point, should confirm the bullishness, while 4-hour closing below 1.4365 should negate our expectations for an intraday upside movement.

The trading range for today is among the major support at 1.4255 and the major resistance at 1.4700

The short-term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

Support: 1.4410, 1.4365, 1.4325, 1.4300, 1.4255
Resistance: 1.4455, 1.4090, 1.4535, 1.4560, 1.4620

Recommendation Based on the charts and explanations above we recommend buying the pair around 1.4410, targeting 1.4560 and stop loss with 4-hour closing below 1.4325 might be appropriate.