Daily Forex Technical Forecast (Dec-05-2011)
EURUSD Forecast The EURUSD failed to continue its bullish correction on Friday, fell back below 1.3420 support area after the US NFP data. The bias is bearish in nearest term but note that as long as moving inside the bullish channel (see my hourly chart below) price is still in a bullish correction phase and [...]
Daily Forex Technical Forecast (Oct-26-2011)
EURUSD Forecast The EURUSD was indecisive yesterday. The bias is neutral in nearest term. Overall price is still in a bullish phase since bounced from 1.3145 and violated the bearish channel as you can see on my daily chart below but found a good resistance around 1.3913/50. The area between 1.3913 – 1.4000 could be [...]
Daily Forex Technical Forecast (Oct-25-2011)
EURUSD Forecast The EURUSD was able to maintain its bullish intraday bias yesterday. Price attempted to push lower after some bad Euro zone manufacturing/services PMI numbers but found a good support around 1.3820 before closed higher at 1.3918. My overall intraday bias remains bullish, still testing 1.4000 key/major/psychological level but there are hesitations to make [...]
Daily Forex Technical Forecast (Oct-24-2011)
EURUSD Forecast The EURUSD was indecisive last week. As you can see on my hourly chart below price is moving inside a range area of 1.3913 – 1.3670/55. However as long as price stays above 1.3670/55 the bullish phase since bounced from 1.3145 and broke above the bearish channel should remain intact. A clear break [...]
EUR/USD Weekly Summary (Oct-22-2011)
The EURUSD was indecisive this week. Price attempted to push lower on Tuesday and Thursday but found a strong support around 1.3670/55 before closed higher at 1.3894 on Friday. On my h4 chart below we can see price is moving in a range area between 1.3913 – 1.3670/55. However the overall technical bias remains bullish [...]
Daily Forex Technical Forecast (Oct-21-2011)
EURUSD Forecast The EURUSD had another volatile but indecisive movement yesterday. If you look at the daily chart, price has been closing near the opening price since Tuesday, simply suggests indecisive condition. I prefer to see price action this week as a sideways condition between 1.3913 – 1.3670/55 now. My H&S scenario seems failed, but [...]
Daily Forex Technical Forecast (May-31-2011)
EURUSD Forecast The EURUSD continued its bullish momentum, break above 1.4340 and hit 1.4405 earlier today in Asian session. The bias remains bullish in nearest term testing 1.4420/70 resistance area (50% Fibonacci retracement of 1.4939 – 1.3968). A clear break above that area would be a threat to the medium term bearish outlook since the [...]
Daily Forex Technical Forecast (May-30-2011)
EURUSD Forecast The EURUSD continued its bullish momentum on Friday, closed at 1.4315. As you can see on my hourly chart below price is moving inside the bullish channel suggests a bullish intraday outlook since the failure to make a clear break below 1.4000, testing 1.4340. Note that the medium/h4 chart bearish scenario since the [...]
Daily Forex Technical Forecast (May-27-2011)
EURUSD Forecast The EURUSD was volatile yesterday but overall still able to maintain its bullish intraday bias so far after found support around 1.4070. On hourly chart below we can see price is moving inside a minor bullish channel suggests a bullish outlook since the rejection to move consistently below 1.4000. However, note that the [...]
Daily Forex Technical Forecast (May-26-2011)
EURUSD Forecast The EURUSD attempted to push lower yesterday, but failed to make a clear break below 1.4000 key support area and whipsawed to the upside hit 1.4171 earlier today in Asian session. The bias is bullish in nearest term testing 1.4230. A clear break above that area could trigger further bullish pullback testing 1.4300/50 [...]