EUR/USD Opinion

[usgalla]

Wait for a proper breakout on the upside or the downside. Upside breakout would be favored and could be a reversal in play. In case of downward breakout we have a recent bottom on Daily Charts at 1.2330. This level would be considered as ideal target level. Below this level we can expect further slide.

Overall Trend is Still Bearish.

 

[usgalla]

Now that we have had a breakout from the above trendine. We have a Resistance at a major trendline as seen on the 4H Chart. In case of a breakout above this we may get into bullish mode for the medium trend. The triangle target would be 1.2872 which is well above the major trendline resistance. However caution needs to be maintained at the trendline as it may resist the up move.

 

[jeffsmith]

Today’s support: - 1.2870 and 1.2844(main), where correction is possible. Break would give 1.2813, where correction also may be. Then follows 1.2782. Break of the latter would result in 1.2744. If a strong impulse, we would see 1.2690. Continuation will give 1.2656.
Today’s resistance: - 1.2960 and 1.2995(main). Break would give 1.3027, where a correction is possible. Then goes 1.3057. Break of the latter would result in 1.3072. If a strong impulse, we’d see 1.3094. Continuation will give 1.3136.

 

[usgalla]

EU is in a Flag type formation in the 4H Charts. It's recent action also creates a Triangle formation as marked on the chart. In case of a downward breakout we can expect the Price to move to 1.2600 levels.
However I would prefer the pair to break above the upper trendline of the Flag pattern which could yield very good returns.

 

[usgalla]

EUR/USD had a Breakout from the Minor Triangle as seen in Chart. The Ideal Target of which should be 1.353x Level. But considering the the Minor & Major Trend line of the Flag Formation we should ideally initially target 1.331x Level, Followed by 1.345x Level. However a breakout above 1. 345x Levels also would mean the breakout of the Flag Pattern which should give us a Target of 1.46xx Level.

 

[usgalla]

The Breakout of the Minor Triangle Pattern was a False Breakout as the Price Returned into the Triangle. Needs to be seen if the price breaks on the Upside or Downside. We still would prefer a breakout to the upside.

 

[usgalla]

Now EUR/USD seems to have broken on the upside on Hourly Charts. We will need to wait for the prices to remain above the upper trendline for next 2-3 4H Bars. Then we could be sure about the uptrend. We would wait for a few hours considering the fact that in the last few few weeks we had a number of false breakouts. Looks Bullish Those holding Short positions should maintain strict stops.

 

[jeffsmith]

Yesterday the short term resistance is yesterday's and this morning's top 1.3335. Break on top of this level may cause a further increasing impetus with testing of 1.3440 and 1.3555. Immediate support is yesterday's bottom 1.3030. The CCI indicator is in the neutral area on the 4 hour and daily charts.
Technical resistance levels: 1.3335 1.3440 1.3555
Technical support levels: 1.3120 1.3030 1.2900
Trading range: 1.3260 - 1.3325
Trend: Upward
Buy at 1.3271 SL 1.3241 TP 1.3311

 

[jeffsmith]

The Euro (EUR/USD) the Euro moved advanced during the Asian session, fell down at the London open, recovered and then fell down in the US session, finally ending the day slightly higher. Volume was low as of the bank holiday in most of Europe and the pair managed to hold more than the 100-day simple moving average. Today, there was a no Euro-zone economic release.

 

[usgalla]

EUR/USD has broken out of the Flag pattern and retested its breakout trendline. Possible Target is around 1.4063. Watch out for Resistance at 1.3738 Zone.

 

[jeffsmith]

EURO/USD made the upward rise towards close of US session to slide again today.
From the high of 1.3438 it is predictable to move to 1.3223 throughout European session and then move upward again throughout US session to 1.34 areas. Wide range swings are to prevail till mid week. Quick drops below low 1.3331 are buy opportunities to book profit during quick rise.

 

[jeffsmith]

EURO completed the high 1.3489 and low 1.3425.The fall is week start counterfeit move. It is predictable to create a novel low under the low momentarily throughout seal of Japanese session and then swing and rise throughout European session to plunge once more towards close of European session to go up during US session on top of high.

 

[usgalla]

Was on a Holiday so could not update Opinion.
EUR/USD has created a Heads & Shoulders Pattern and has broken down below its neckline at 1.3815 Level. Ideal Target of this pattern should be at 1.3275 Level.
Watchout for support at 1.3422.

 

[usgalla]

Looking at the Daily and 4 Hrs Chart of EUR/USD There are Triangle formations on both charts.The Green Lines on Daily charts mark the triangle on Daily Charts.The Red Lines on 4H Charts mark the Triangle an upward breakout of which would give us an target of 1.4720 which is also an resistance on the Daily Charts.However the green line may act as a stiff resistance. Buying on break of the upper Red line with additional positions on break above upper Green trendline is suggested. Looking at the Daily charts our bias would be to the upside. On the lower side the Red and then the Green Trend lines would act as supports.