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-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 [...]
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 [...]